Singapore Q2 property prices drop 5.9 percent
Singapore real estate prices fell in the
April-June period for a fourth straight quarter amid the
city-state's worst ever recession.
Private residential property prices fell 5.9 percent in the
second quarter from the previous quarter after plunging 14 percent
in the first quarter, the Urban Redevelopment Authority said
The property survey was carried out in the first 10 weeks of the
quarter, and the authority said it plans to release more complete
figures later this month.
Singapore's gross domestic product fell a seasonally adjusted,
annualized 14.6 percent in the first quarter. The government expects
the economy to shrink as much as 9 percent this year.
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