Chart of the Day: Non-landed property prices slid 1% QoQ in Q1

This is the second consecutive quarter of decrease for the Non-Landed PPI.

This chart from EDMUND TIE shows that the non-landed property prices registered a 1% QoQ decline in Q1.

This is the second consecutive quarter of decrease for the non-landed property prices. However, on a YoY basis, the index posted a 2% growth.

The decline in prices came amidst the COVID-19 pandemic and economic slowdown, dampening market sentiments and muted demand for homes as local homebuyers held back their purchase plans to assess their financial positions.

On a monthly basis, condo rent prices edged up 0.2% MoM in March. This is due to the drop of rents in the Core Central Region by 0.8%, with rents in the Rest of Central Region and Outside Central Region inching up 0.3% and 0.8%, respectively.