“This was the largest quarterly negative magnitude registered since 2Q09, when prices fell 5.2% q-o-q,” Wong adds.
SINGAPORE (Apr 2): Prices of non-landed residential property in Singapore’s prime district, or Core Central Region (CCR), fell 2.9% q-o-q in 1Q19 – dragging the private residential property price index (PPI) down for a second consecutive quarter.
“This weakness does not come as a surprise to us, given that the CCR was most likely to be adversely impacted by the set of property cooling measures introduced in July last year,” says OCBC Investment Research in a Tuesday report led by analyst Andy Wong Teck Ching.
