04 Jul '17, 9am

Property prices in Singapore have fallen for a record 15th quarter

Singapore home prices fell in the quarter ended June, extending the drop in property values to a record 15th quarter as most measures to cool the market remain in place despite a slight easing in March. An index tracking private residential prices fell 0.3 per cent in the three months ended June 30 from the previous quarter, according to preliminary data from the Urban Redevelopment Authority released Monday. The almost four-year decline in prices is the longest since the data was first published in 1975. Singapore’s leaders, determined to keep a lid on home prices in the city-state, have unleashed a series of measures to cool the market since 2009. The government in March rolled back some property-market restrictions for the first time in eight years, although it has cautioned that those adjustments don’t signal an unwinding of the measures. “We don’t expect a recovery in...

Full article: http://www.scmp.com/property/international/article/210123...

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