THE CHARTIST: CON­TIN­U­ING DE­CLINE IN PRI­VATE RES­I­DEN­TIAL PROP­ERTY PRICES

Singapore Business Review - - FIRST -

Prices of pri­vate res­i­den­tial prop­er­ties have con­tin­ued their de­cline, ac­cord­ing to a re­port by ERA Realty Net­work. There is an es­ti­mated 0.4% slide in Q4, bring­ing the full year price de­cline in 2016 to 3%. “Amongst the dif­fer­ent geo­graph­i­cal seg­ments, the Core Cen­tral Re­gion out­per­formed the rest of the mar­ket, with prices re­main­ing un­changed in Q4 2016 and an over­all 1.3% de­crease for 2016. Prices fell 2.8% and 3.1% in the city fringe and sub­ur­ban ar­eas re­spec­tively,” says the re­port.

Fur­ther, it says Sin­ga­pore is tran­si­tion­ing to a pe­riod of slower eco­nomic growth, with flash es­ti­mates show­ing a 1.8% growth. “This pe­riod of slow eco­nomic growth has been a drag on prices, as home buy­ers be­come more price sen­si­tive.”

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