Private homesPrices of Singapore private property drop 1.0 % in the Q1 2015 from the past 3 months, it is according to more complete data of released by Urban Redevelopment Authority (URA). At the start of April this year, flash estimates revealed a lightly bigger drop of 1.1 %.

However, this shows the sixth straight quarter of price drop for the private residential market which has been extremely affected by certain rounds of cooling measures.

In fourth quarter of 2014, the prices of private homes dropped to 1.1 %, while for the whole year of 2014, prices of units dropped to 4.0 %.

Price declines of private homes were seen across all section of the private residential market.

Prices of non-landed property in the city area also dropped 0.4 %, lower than 0.9 % drop in the past quarter. The rest of Central Region area recorded a price decline of 1.7 %, higher than the 1.3 % drop in the previous quarter. Area outside Central Region recorded a drop of 1.1%, higher than the 0.8 % drop in the previous quarter. Prices of Singapore landed properties fell 0.9 %, lower than 1.3% decline in the previous quarter.

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