
Give me a low five: Singapore home prices slipped to 5-year low
Property measures nailed it.
Private home prices in the city dropped the most in almost five years, according to a Bloomberg report, after the government introduced housing curbs in 2009 to guard against property market speculation and price bubbles.
Government data reveals that private residential prices fell 1.3% in the first quarter, after a 0.9% drop in the previous three months.
Standard Chartered’s CEO for ASEAN Lim Cheng Teck refuses to disclose how much he expects prices to drop before the property measures will be lifted, only indicating that it will not be sharp or drastic.
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