Friday, July 24, 2009

Private home prices fall 4.7% in Q2

SINGAPORE: Private home prices in Singapore fell 4.7 per cent in the second quarter of this year, compared with the previous three months.

Although that marked the fourth straight quarter of falls, the pace of the decline appeared to be moderating.

Prices fell a record 14.1 per cent on quarter in the January to March period.

The second quarter decline was also better than 5.9 per cent fall predicted in the advance estimate released earlier this month.

Meanwhile, private residential rents fell 5.2 per cent in the second quarter, compared with an 8.5 per cent drop in the first quarter.

Source: Channel News Asia, 24 July 2009

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