Property Wire, 3 Jan 09
Residential property in Singapore fell 5.7% in the fourth quarter of 2008, the steepest drop in a decade, according to the latest figures.
The global financial crisis and an economic recession are deterring buyers in the country, experts believe.
Property prices have retreated for two straight quarters after a four year real estate boom, the data from the Urban Redevelopment Authority shows. A spokesman confirmed it was the biggest fall since 1998.
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