Singapore market sinks to lowest point since 2009

The rate of home price increases in Singapore slowed to a crawl in the fourth quarter of 2011, and the market is now at its lowest point since the third quarter of 2009, official government data showed this week.

Residential prices were up 0.2% from Q3 2011 when the market was 1.3% up according the latest data from Singapore's Urban Redevelopment Authority.

Prices of non-landed private residential properties in Singapore's core central region rose 0.5% in the fourth quarter, easing from a 0.7% rise in the third quarter, the URA said in its statement this week.

Resi values in the rest of the central region rose 0.1%, compared with a 1.2% rise in the July-September period.

Source: OPP.org.uk