Chart of the Day: Check out the declining residential property prices

Price index decreased by 0.5% in 4Q16.

According to the latest figures from URA, prices of landed properties rose by 0.8%, compared with the 2.7% decline in the previous quarter. Prices of non-landed properties decreased by 0.8%, compared with the 1.2% decline in the previous quarter. For the whole of 2016, prices of landed properties decreased by 4.5% while prices of non-landed properties fell by 2.6%.

"Prices of non-landed properties in Core Central Region (CCR) increased by 0.1%, compared with the 1.9% decrease in the previous quarter. Prices of non-landed properties in Rest of Central Region (RCR) and Outside Central Region (OCR) decreased by 2.0% and 0.6% respectively, compared with the 1.0% decrease in RCR and 1.0% decrease in OCR in the previous quarter. For the whole of 2016, prices in CCR, RCR and OCR declined by 1.2%, 2.8% and 3.4% respectively," URA said.

Rentals of private residential properties fell 1.0%, compared with the 1.2% decline in the previous quarter. For the whole of 2016, rentals of private residential properties fell 4.0%, compared with the 4.6% decline in 2015.

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