The prices of residential properties in Singapore, including both the public housing resale market and the private home market, dipped in the first quarter of the year, according to statistics released on Friday.

The resale prices of public housing flats built and sold by the Housing and Development Board (HDB), which house about 80 percent of the resident population, fell 1.6 percent from the last quarter of 2013, according to statistics released by the Housing and Development Board.

The prices for private homes, which are typically more expensive properties such as apartments and landed homes, declined by 1.3 percent, according to statistics released by the Urban Redevelopment Authority.

Singapore home prices have fallen in recent months. The government put in place several rounds of cooling measures in the residential property market to curb rising housing prices in the aftermath of the global financial crisis as they rebounded sharply.

The resale prices for HDB flats have dropped for three consecutive quarters, while private home prices are down for the second straight quarter.