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Private, HDB resale home prices continue to soften in Q2

Private home resale prices fell 1.1 per cent while HDB resale prices fell 1.3 per cent in the second quarter, according to URA and HDB flash estimates.

SINGAPORE: The price index for private homes fell 1.1 per cent in the second quarter, the third continuous quarter of price decrease, according to flash estimates released by the Urban Redevelopment Authority (URA) on Tuesday (July 1).

Prices of non-landed private residential properties in all market segments declined in the second quarter, the agency said. In the core central region, prices fell 1.5 per cent, higher than the 1.1 per cent decline in the previous quarter. Prices outside the central region decreased by 1.1 per cent, higher than the 0.1 per cent decrease in the previous quarter. In the rest of the central region, prices fell 0.6 per cent, compared with the 3.3 per cent decline in the previous quarter.

Prices of landed properties fell 1.5 per cent, higher than the 0.7 per cent decline in the previous quarter, the URA said.

Prices of resale HDB flats in the second quarter also fell 1.3 per cent from the previous quarter, according to flash estimates released by the Housing and Development Board (HDB) on Tuesday.

A total of 9,707 flats under three Build-To-Order (BTO) exercises and 3,383 flats under a Sale of Balance Flats exercise were sold in the first half of 2014, HDB said, adding that it will offer about 3,810 BTO flats in Punggol, Sembawang, Toa Payoh, Woodlands and Yishun this month.

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