Singapore House Prices Decline For Fifth Straight Quarter

(RTTNews) - Singapore house prices declined for the fifth consecutive time in the fourth quarter as government measures to cool property market curbed demand, flash estimate released by the Urban Redevelopment Authority revealed Friday.

House prices were down 1 percent from the prior quarter following a 0.7 percent drop in the third quarter. As a result, prices fell 4 percent for the whole of 2014.

Prices of non-landed private residential properties declined in all market segments. In Core Central Region, prices fell 0.9 percent and in Rest of Central Region slid 1.2 percent in the fourth quarter. In Outside Central Region, house prices fell 0.9 percent.