Economics
Singapore Home Prices Post First Drop in Six Quarters
- Luxury residential prices dipped 1.5% in December quarter
- City-state’s July cooling measures slow pace of gains in 2018
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Singapore home prices posted their first decline in six quarters as the government’s cooling measures imposed in July started to bite.
Private residential prices slid 0.1 percent in the last three months of the year, according to preliminary data from the Urban Redevelopment Authority released Wednesday. Luxury was the segment hit the hardest, with prices in prime areas dropping 1.5 percent after climbing 1.3 percent in the previous quarter. Still, the index posted a 7.9 percent gain for 2018 as a whole, the best annual increase in eight years.