Reuters, 1 Apr 2009, Kevin Lim
SINGAPORE, April 1 (Reuters) - Singapore private home prices suffered their biggest drop in more than 30 years in the first three months of 2009 as the country's worst-ever recession hammered investor sentiment in the recently booming property market.
Home prices fell 13.8 percent in the first quarter of this year compared with the previous quarter, the Urban Redevelopment Authority said on Wednesday, more than twice as much as the 6.1 percent drop in October-December 2008.
The fall marked the third straight quarterly drop and was the steepest fall since the second quarter of 1975, URA said.
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