Singapore’s house prices are now falling
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Singapore's housing market continues to decline, despite a reasonable rate of economic growth. The private residential property price index dropped 0.75% during the year to Q1 2014, in contrast with the 3.5% annual rise seen y-o-y to Q1 2013, based on figures released by the Urban Redevelopment Authority (URA). When adjusted for inflation, house prices fell by 1.68% over the same period.
On a quarterly basis, private residential property prices fell 1.26% (-1.43% inflation-adjusted) in Q1 2014.
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