Prices of Singapore's private residential properties fell 0.5 percent in the first quarter of 2017, said Urban Redevelopment Authority (URA) in its flash estimate released on Monday.
The URA said the private residential property index fell to 136.5 points from 137.2 points in the fourth quarter of 2016, representing a decline of 0.5 percent.
As for different locations, prices of non-landed private residential properties in downtown area fell by 0.2 percent, in contrast to the 0.1 percent increase in the previous quarter.
Prices of non-landed private homes in city fringe remained unchanged after registering a decrease of 2.0 percent in the previous quarter.
Prices of non-landed private homes in suburban area increased by 0.1 percent after registering a 0.6 percent decline in the previous quarter.
Meanwhile, prices of landed residential properties fell by 2.8 percent in the first quarter of 2017, compared to a 0.8 percent increase 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 till the middle of March.
The URA said the statistics will be updated four weeks later when the URA releases the full real estate statistics for the first quarter.
About 80 percent of the resident population in Singapore live in units built by the Housing and Development Board and sold to eligible households.
The private residential properties in the city state typically refer to those built by private developers. Transactions involving private residential properties are carried out in a market separate from public housing market.
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