Private home prices in Singapore rebounded 0.3% q-o-q in the second quarter of 2020, following a 1% decline in the previous quarter, revealed the latest report from URA. The report noted that landed property prices remained unchanged in Q2 2020, versus the 0.9% decrease registered in Q1 2020. Non-landed property prices, on the other hand, increased 0.4%, reversing the 1% drop posted in the previous quarter. CCR saw non-landed property prices increase 2.7% in Q2 2020, after falling 2.2% in Q1 2020. Prices of non-landed properties within RCR decreased 1.7%, steeper than the 0.5% drop in the previous quarter. OCR posted a 0.1% increase in non-landed property prices, compared with the 0.4% decline in Q1 2020. For the first half of 2020, overall prices dipped 0.7%, about six months after the onset of COVID-19 in Singapore. URA quarterly real estate statistics showed that the total number of transactions fell 37.6% to 2,664 units in Q2 2020, or its third consecutive quarterly drop since Q3 2019 when 5,763 units were transacted. Transactions within the secondary market declined 55.1% to 933 units in Q2 2020, while new home sales fell 20.3% to 1,713 units. Meanwhile, the overall rental index dropped 1.2% quarter-on-quarter and 1.1% year-on-year.... Continue Reading