23 Mar '16, 7am

Home prices in Singapore fell by 3% after dropping by 4% percent in 2014. @SGPropertyGuru

Singapore’s property market is still struggling, said a new report. Home prices in Singapore fell by 0.49 percent in the fourth quarter of 2015, revealed the latest survey from Global Property Guide. For the entire year, prices fell by 3.06 percent after dropping by 3.97 percent in 2014, said the report, adding that “Singapore’s housing market continues to struggle amidst a slowing economy”. However, housing demand seems to be gradually improving. According to data from the Urban Redevelopment Authority (URA), the number of private homes sold increased by 1.7 percent to 7,440 units in 2015. On the other hand, supply continues to fall, noted Global Property Guide. “The number of uncompleted private units launched fell by about 8.3 percent to 7,056 units in 2015.” According to the International Monetary Fund (IMF), Singapore’s economy is expected to grow by only 2.9 percent ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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