29 Apr '14, 4am

Private home resale prices fall again: Index, #Singapore #Property News,

WEAK rental demand and tight loan curbs hammered private home resales again last month, deepening the gloom that has settled over the overall property market since the start of the year. The price slide picked up speed from January to last month, according to Singapore Residential Price Index flash estimates out yesterday, with experts tipping worse to come. Consultants expect prices to tumble 7 per cent to 11 per cent by the end of the year. The central region bore the brunt of the slump, but the entire island took a hit, with overall prices down 1.1 per cent from levels in February, which in turn recorded a 0.9 per cent fall from January and a 0.4 per cent slip from last December. This was due to a double whammy of lower demand from investors and upgraders, and the increased supply of homes, consultants said. "Buyers of resale properties are more savvy and actively do th...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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