However, in the city fringe or rest of central region, prices fell 1.9 per cent quarter on quarter in Q2, a bigger drop compared with the 0.5 per cent decline in the previous quarter.
In the suburbs or outside central region, prices remained unchanged in Q2, compared with a 0.4 per cent decline in the previous quarter. The URA also said that prices of landed properties fell 2.7 per cent quarter on quarter in Q2, following a 0.9 per cent drop in the previous quarter. The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment, and data on units sold by developers up to mid-June. The statistics will be updated on July 24, when the URA releases its full set of real estate statistics for the second quarter.
"Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution," the URA said in its press release.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
Source: News Formal (newsformal.com)
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