Bloomberg.com, 2 Jan 2009, Chen Shiyin
Jan. 2 (Bloomberg) -- Singapore’s fourth-quarter private home prices declined 5.7 percent, the steepest drop in a decade, as the global financial crisis and an economic recession deterred buyers.
The price index of private residential property fell to 163.4 points in the three months ended Dec. 31, from 173.30 in the previous quarter, the Urban Redevelopment Authority said in a statement on its Web site today. That’s the largest drop since the three months ended Dec. 31, 1998, according to data tracked by Bloomberg.
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