SINGAPORE, Jan 22 — Private home prices fell 0.5 per cent in the final quarter of last year, marking the longest losing streak in 17 years.

Prices of private residential properties fell at a slower pace for three months to December, down 0.5 per cent to 141.6 points compared to the preceding quarter’s 1.3 per cent decline, data from the final Urban Redevelopment Authority’s (URA) price index showed today.

In the fourth quarter, non-landed private homes prices fell 0.3 per cent in the Core Central Region (CCR) or city centre, compared to the 1.2 per cent decline in the previous quarter. The Rest of Central Region (RCR), or city fringes, fell 0.4 per cent, compared to the 1.6 per cent decline in the previous quarter. There were no price changes for homes in the Outside Central Region (OCR), or suburbs, following the 1.6 per cent decline in the previous quarter.

For the full year, private home prices fell by 3.7 per cent, compared with the 4 per cent decline in 2014, while prices in the CCR, RCR and OCR fell by 2.5 per cent, 4.3 per cent and 3.7 per cent, respectively.

In the landed property segment, prices fell 1.8 per cent, extending from the 0.4 per cent decline in the previous quarter. For the full year, prices of landed homes slipped 4.1 per cent, the URA data showed.

Developers launched 1,333 uncompleted private residential units for sale for the fourth quarter, down from the 2,435 units in the third quarter. Transactions dipped to 1,603 units compared to the 2,410 units sold in the preceding quarter.

For the full year, developers sold 7,440 units, compared with 7,316 units in 2014. ― TODAY