{"id":28373,"date":"2016-10-03T22:16:07","date_gmt":"2016-10-03T15:16:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-witnesses-sharpest-fall-in-home-prices-in-7-years\/"},"modified":"2016-10-03T22:19:56","modified_gmt":"2016-10-03T15:19:56","slug":"singapore-witnesses-sharpest-fall-in-home-prices-in-7-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-witnesses-sharpest-fall-in-home-prices-in-7-years\/","title":{"rendered":"Singapore witnesses sharpest fall in home prices in 7 years"},"content":{"rendered":"


\nIt\u2019s now 12 consecutive quarters of losses for private home index
\nView from the deck of the Singapore Flyer. Vincent St. Thomas\/Shutterstock
\nPrivate home prices in Singapore experienced the steepest decline in seven years, data released Monday by the Urban Redevelopment Authority showed.
\nThe country\u2019s private residential property index sank 1.5 percent in the three months to September 30. Unit prices dropped 1.8 percent in prime districts, while those in the suburbs fell 1.2 percent. Prices\u00a0near prime districts decreased 1.3 percent.
\nThis is\u00a0the biggest plunge for the index since June 2009, when home values sagged 4.7 percent in the wake of the global financial crisis. With this latest decrease, the index marked\u00a0its\u00a012th consecutive quarter of falls.
\nMore: Singapore\u2019s \u2018plant whisperer\u2019 on why \u2018green walls\u2019 are now a thing
\nThe plunge is largely attributed to the government\u2019s unbending cooling measures, which have compelled developers to market their offerings at markdowns. These curbs include raised stamp duties for purchases by foreign buyers and a cap on debt coverage ratio set at 60 percent of a mortgagor\u2019s monthly income.
\n\u201cThe prices could be taking into account the delayed discounts offered in creative marketing by developers, which could be coming in with a lag,\u201d Nicholas Mak, an executive director at SLP International Property Consultants in Singapore, told Bloomberg.
\nThe Singapore market may finally be receiving the brunt of an economic slowdown, \u201con top of the downward pressure from the supply spike in 2016, 2017,\u201d Christine Li, head of research for Cushman and Wakefield in Singapore, told Reuters.
\nRead next: Pressed for land, Singaporean developers explore growing Indian cities
\n
\nSource : property-report.com
\nRead more…Singapore witnesses sharpest fall in home prices in 7 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s now 12 consecutive quarters of losses for private home index View from the deck...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-28373","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7nD","jetpack-related-posts":[{"id":84378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-rise-fastest-in-almost-eight-years-in-the-first-quarter\/","url_meta":{"origin":28373,"position":0},"title":"Singapore home prices rise fastest in almost eight years in the first quarter","date":"April 2, 2018","format":false,"excerpt":"\r Singapore\u2019s private home prices rose 3.1 per cent in the first quarter, the fastest quarterly growth in nearly eight years, in a further sign of a nascent recovery in the city state\u2019s housing market. The pace of growth was the quickest since the second quarter of 2010 when home\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resale-condo-prices-up-0-2-in-april-nus-index\/","url_meta":{"origin":28373,"position":1},"title":"Resale condo prices up 0.2% in April, NUS index","date":"May 29, 2019","format":false,"excerpt":"\r After remaining stagnant in March, resale condo prices saw a 0.2% increase in April.\u00a0 Prices of completed condominiums and apartments in Singapore edged up by 0.2 percent in April, after remaining flat in March, according to latest flash estimates of the NUS Singapore Residential Price Index (SRPI). This comes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105539,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resale-condo-prices-down-0-5-in-february-nus-index\/","url_meta":{"origin":28373,"position":2},"title":"Resale condo prices down 0.5% in February, NUS Index","date":"March 29, 2019","format":false,"excerpt":"\r Resale prices of non-landed private homes in Singapore fell by 0.5 percent in February, continuing the revised 0.2 percent decline registered in January, revealed latest flash estimates of the NUS Singapore Residential Price Index (SRPI). Excluding small units, prices declined by 1.5 percent in the central region, which is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28355,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-house-prices-fall-by-most-in-seven-years\/","url_meta":{"origin":28373,"position":3},"title":"Singapore house prices fall by most in seven years","date":"October 3, 2016","format":false,"excerpt":"\r Singapore home prices have dropped by the most in more than seven years as developers offered discounts amid signals from the government that it will not roll back property curbs initiated in 2009.An index tracking private residential prices fell 1.5 per cent in the three months ended September 30\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21672,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/completed-condo-prices-up-0-6-in-june-nus-index\/","url_meta":{"origin":28373,"position":4},"title":"Completed condo prices up 0.6% in June: NUS index","date":"July 29, 2016","format":false,"excerpt":"\r View of completed apartment buildings in Singapore. Prices of resale non-landed private homes across the island rose slightly by 0.6 percent in June, after falling by 0.9 percent in the previous month, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI). Excluding small units, prices in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/07\/NUS-Singapore-Residential-Price-Index-June-2016.jpg?fit=672%2C515&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":39167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resale-condo-prices-down-0-7-in-november-nus-index\/","url_meta":{"origin":28373,"position":5},"title":"Resale condo prices down 0.7% in November: NUS index","date":"December 29, 2016","format":false,"excerpt":"\r Condo prices fell slightly by 0.8 percent in the central region. \u00a0 Resale prices of non-landed private homes in Singapore fell by 0.7 percent in November, continuing the revised 0.2 percent decline registered in October, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI). Excluding small units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/28373"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=28373"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/28373\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=28373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=28373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=28373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}