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Singapore private home price fell for third straight quarter
Last Updated: 2014-07-25 10:24 | Xinhua
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Prices of private residential properties in Singapore decreased by 1.0 percent in the second quarter of 2014, following the 1.3 percent decline in the previous quarter, the third straight quarter of price decline, the Urban Redevelopment Authority said on Friday.

Price decline was observed across all segments of the private residential property market. Prices of non-landed properties in the core central region declined by 1.5 percent, following the 1.1 percent decrease in the previous quarter.

Prices in the rest of the central region declined by 0.4 percent, after decreasing by 3.3 percent in the previous quarter. Prices outside the central region declined by 0.9 percent, significantly more than the 0.1 percent decline in the previous quarter.

In land properties, the prices declined by 1.7 percent, significantly more than the 0.7 percent decrease in the previous quarter.

Rentals of private residential properties also saw a decline of 0.6 percent from April to June, compared with the 0.7 percent drop in the previous quarter.

In the private home resale market, the number of transactions rose to 1,314 in the second quarter, up from 941 transactions in the previous quarter, accounting for 31.9 percent of the total sale transactions.

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