Report named China as worst performer, with private home prices falling by 6 per cent in the April-June quarter from the same period a year ago.
Singapore private homes prices have dropped by the second-largest margin in Asia in the last quarter, with only China performing worse, according to Knight Frank’s Global House Price Index.
The report, released on Sept 4, showed that Singapore private home prices fell by 3.2 per cent in the April-June quarter from the same period a year ago. China posted a 6 per cent drop.
Ms Alice Tan, Knight Frank Singapore’s director and head of consultancy and research, said the continual fall in prices shows buyers are remaining cautious, with existing cooling measures and the anticipation of further price correction.
Private home prices in Hong Kong saw the biggest gains, defying government cooling measures, with prices increasing by 20.7 per cent in the second quarter.
Australia recorded a 7 per cent increase in prices, while Malaysia saw a gain of 4 per cent.
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