Both HDB and private property prices fall further in Q2 2014

Dear valued media partners,

The HDB resale market continued to cool in Q2 2014; this is also the fourth consecutive quarter of price drops. According to HDB’s full quarterly data released today, resale flat prices fell 1.4 per cent to 195.7 points — the lowest in 2 years. For the first 2 quarters of 2014, the fall of 3 per cent has already eclipsed the 0.6 per cent registered in the entire 2013, and this sets the stage for further price falls in the year.

Similarly, URA’s Q2 2014 result also shows that prices of private homes in Singapore are firmly on the downtrend. The price index fell by 1.0 per cent quarter-on-quarter (QoQ) in Q1 2014, after a decline of 1.3 per cent QoQ in the preceding quarter – this is the third consecutive quarter of moderation.

Download the full report HERE.