Singapore Home-Price Growth Slows as Curbs’ Effects Linger
- Fourth-quarter gain revised to 0.5% from initial 0.3% estimate
- City-state has supply overhang of more than 32,000 apartments
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Singapore private home prices rose just 0.5% in the final quarter of 2019, with the slowdown reflecting the lingering impact of government curbs more than a year after they were imposed.
The rise was slightly higher than the preliminary estimate of a 0.3% gain, data from the Urban Redevelopment Authority released Thursday showed, and compared with a 1.3% expansion in the previous quarter. For all of 2019, apartment prices on the island increased 2.7%, well below a jump of 7.9% in 2018.