Singapore house prices declined for the third consecutive quarter during three months ended June, flash data from Urban Redevelopment Authority revealed Tuesday.
House prices fell 1.1 percent sequentially in the second quarter, following a 1.3 percent drop in the prior quarter. Data suggested that measures taken by the government since 2009 to cool property market helped to curb demand.
Prices of non-landed private residential properties in all market segments declined in the second quarter. In core central region, prices fell 1.5 percent, which was faster than the 1.1 percent decline in the previous quarter.
Similarly, prices in outside central region decreased 1.1 percent after falling 0.1 percent. Meanwhile, in rest of central region, prices fell 0.6 percent compared to the 3.3 percent decline a quarter ago.
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