Economics
Singapore Home Prices Decline, And the Worst May Not Be Over
- Property prices dropped 1.1% in second quarter, data show
- City imposed a two-month long lockdown to curb virus spread
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Singapore home prices fell the most in three years in the second quarter as a city-wide shutdown to contain the coronavirus put the brakes on the property market. Analysts said the slide may not be over.
Property values declined 1.1% from the previous quarter, according to the Urban Redevelopment Authority’s preliminary estimate Wednesday. In the first quarter, prices dropped 1%.