HDB resale, private home prices fall in first 3 months of 2014

Singapore home prices fell in the first quarter of this year from the last three months of 2013, data released by the Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) on Tuesday showed.

HDB resale prices declined for the third consecutive quarter, dropping 1.5 per cent in the January-March period from October-December period.

Prices had fallen by 1.5 per cent in the fourth quarter and by 0.9 per cent in the third quarter.

Meanwhile, prices of private homes fell for the second straight quarter, declining by 1.3 per cent in the first quarter after a 0.9 per cent drop in the fourth quarter, URA’s private residential property price index showed.