Private residential property prices dip 1.5% in Q3

It widened the 0.4% decline in Q2.

The city-state's housing market has experienced dip in the prices for the third quarter this year, further diving from the decline posted in the previous quarter.

According to the latest flash estimates by the Urban Redevelopment Authority (URA), the private residential property index fell 1.5% to 137.9 points in Q3, widening the 0.4% decline recorded in Q2.

For non-landed private residential properties in Core Central Region (CCR), prices slipped 1.8%, swinging to the red from 0.3% increase in the past.

The Rest of Central Region (RCR) also saw a slip in the said quarter, declining 1.3% after registering an increase of 0.2% in the previous quarter.

Meanwhile, prices in Outside Central Region (OCR) declined by 1.2%, following a 0.5% decline.

URA said these figures are compiled based on transaction prices given in contracts submitted for stamp duty payment, and data units sold by developers.