Five-year low: Prices of private homes slide further in 2Q

Rental prices follow suit.

It’s time to hit front porches as price decline continues to be observed across all segments of the private residential property market.

In a recent real estate release by the Urban Development Authority (URA), prices of non-landed properties in the Core Central Region (CCR) declined by 1.5%, following the 1.1% decrease in the previous quarter. Prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) declined by 0.4% and 0.9% respectively. Also, prices of landed properties declined by 1.7%.

Overall, private residential properties fell by 0.6% in 2Q14, further pulling down the statistic which also declined 0.7% in 1Q14.

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