09 Dec '11, 12am

Property measures: Home prices may fall 30%, say analysts

Property measures: Home prices may fall 30%, say analysts

Property prices could fall by as much as 30 per cent next year as a result of the Government's latest move to cool the market, analysts have predicted. -- ST PHOTO: ALPHONSUS CHERN By Yasmine Yahya & Esther Teo Property prices could fall by as much as 30 per cent next year as a result of the Government's latest move to cool the market, analysts have predicted. This would be a chilling replay of what happened during the global financial crisis in 2008 and 2009, when home prices slid 25 per cent over 12 months. These sobering warnings arrived on Thursday amid a slew of analyst reports taking stock of the surprise measures to cool Singapore's property market announced on Wednesday night. Related Links PRIVATE HOME PRICES The curbs include an unprecedented extra stamp duty of 10 per cent on any foreigner buying a residential property here. Please enable JavaScript to view the ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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