Private property prices down 3.7% in 2015: URA

Prices of private homes fell 3.7 per cent for the whole of 2015, easing from a 4 per cent decline in 2014, according to data released by the Urban Redevelopment Authority (URA) on Friday (Jan 22).

Prices fell 0.5 per cent in the fourth quarter, compared with the 1.3 per cent decline in the previous quarter.

For the whole of 2015, prices of non-landed properties in the Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) fell by 2.5 per cent, 4.3 per cent and 3.7 per cent, respectively. Prices of landed properties declined by 4.1 per cent, URA said.

Rentals of private residential properties fell by 4.6 per cent for the year, URA added. Rentals of non-landed properties in CCR, RCR and OCR declined by 3.8 per cent, 4.9 per cent and 5.6 per cent, respectively. Rentals of landed properties declined by 4.5 per cent.

Source : Channel NewsAsia – 22 Jan 2016

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