In the latest evidence of a cooling property market, landed homes are the next hit. Based on the flash estimates of the 4th quarter 2013 URA price index for private homes, prices of landed private residences slipped by 1.2% quarter-to-quarter. This is the first time, this segment registered a decline since 2nd quarter 2009 when the index tumbled 4.73% after already nosediving for three straight quarters. Here we present to you the URA price indices movements for overall landed homes, and its three different components: Detached, Semi-Detached and Terrace, for the last three years.

Table 1: URA Price Indices For Private Landed Homes

	Price Index: Landed Overall	Q-o-Q  Change	Price Index: Landed Detached	Q-o-Q  Change	Price Index: Landed Semi Detached	Q-o-Q  Change	Price Index: Landed Terrace	Q-o-Q  Change
4Q'13		-1.20% (flash estimates)
3Q'13	245.6	0.29%	252.5	-1.33%	229.5	1.06%	250.1	1.50%
2Q'13	244.9	0.33%	255.9	-0.31%	227.1	-0.48%	246.4	1.52%
1Q'13	244.1	0.45%	256.7	0.35%	228.2	0.13%	242.7	0.87%
4Q'12	243	1.80%	255.8	1.91%	227.9	2.84%	240.6	1.18%
3Q'12	238.7	1.14%	251	1.99%	221.6	0.64%	237.8	0.76%
2Q'12	236	0.43%	246.1	-0.40%	220.2	0.59%	236	1.24%
1Q'12	235	0.09%	247.1	-1.24%	218.9	0.18%	233.1	1.75%
4Q'11	234.8	0.13%	250.2	0.40%	218.5	-0.59%	229.1	0.22%
3Q'11	234.5	2.36%	249.2	0.65%	219.8	3.73%	228.6	3.91%
2Q'11	229.1	3.57%	247.6	3.25%	211.9	3.87%	220	3.77%
1Q'11	221.2	3.90%	239.8	4.08%	204	2.82%	212	3.92%

Source: URA The decline in the price index could well have been expected given that the price index for landed detached has been on a steady downward trajectory since the 2^nd quarter 2013. Semi-detached homes also shared the decline in the 2^nd quarter 2013. Nevertheless, the estimates for the 4^th quarter is only preliminary, and the actual estimates to be released at the end of this month may be uplifted by price growth in the smaller and more affordable terrace houses. The current bearish property market may well be a good time to secure a home. So start planning early, and speak to an iCompareLoan mortgage expert to assist you in sorting out your finances and select the ideal Singapore home loan!

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