Singapore Home Prices Post Longest Losing Streak
Singapore home prices dropped for an 11th quarter, posting the longest losing streak on record. An index tracking private residential prices fell 0.4% in the three months ended 30th June from the previous quarter, capping the longest series of quarterly losses since 1975 when prices were first published according to data from the Urban Redevelopment Authority.
“Home values have dropped 9.4 percent from the peak in 2013 and sales have declined to about half the level that year.”
The government has signaled its reluctance to lift property tightening measures it brought in over the last seven years as it wants to avoid overheating in the market again. It is too early to relax the curbs, as doing so could result in a market rebound. Home values have dropped 9.4 percent from the peak in 2013 and sales have declined to about half the level that year.
Related Reports: Bloomberg
About Urban Redevelopment Authority
The Urban Redevelopment Authority is Singapore’s land use planning and conservation authority. Our mission is to make Singapore a great city to live, work and play. We strive to create a vibrant and sustainable city of distinction by planning and facilitating Singapore’s physical development in partnership with the community.
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