According to the URA’s flash estimates, private home prices in the third quarter this year will see steeper declines across all market segments.
Private home prices in Singapore are set for a steeper decline in the third quarter this year, falling about 1.3 per cent more than in the second quarter.
This is according to October 1 flash estimates from the Urban Redevelopment Authority (URA), released four weeks ahead of full real estate statistics for the third quarter.
The drop follows a 0.9 per cent decline in private home prices the second quarter. It is the fastest pace of decline since the first quarter of last year, The Straits Times reported. Analysts said the estimated price fall is in line with expectations of a 4 to 6 per cent drop for the full year.
The estimates showed that private home prices in the central region fell 1.3 per cent, and prices in the city fringes fell 1.5 per cent. Both segments saw a 0.6 drop in the second quarter.
Visit The Straits Times for the full report.
If you enjoyed this article, you might be interested in Further price drop may prompt reversal of property curbs and Resale market for newer BTO flats looking gloomy.
Find the home of your dreams today at Singapore’s largest property portal, 99.co!
About 99.co
We are a property search engine with the overarching goal of building a more transparent and efficient property market. We are working towards that future by empowering people with the tools and information needed to find a place to live in the best way possible.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!
Facebook | Instagram | TikTok | Telegram | YouTube | Twitter
Leave a comment