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Worst not over for Singapore property, billionaire Kwek says

Bloomberg Published on Thu, Feb 23, 2017 / 5:04 PM GMT+8

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SINGAPORE (Feb 23): The worst isn’t over for Singapore’s property market, after government curbs helped push home prices lower for a third year in 2016, said Kwek Leng Beng, the billionaire chairman of City Developments.

“I do not believe the worst is over although I think the worst has slowed down,” Kwek said in a Bloomberg Television interview with Haslinda Amin.

Singapore home prices fell 3% in 2016, as the government held steadfast on cooling measures. Prices slipped for a 13th straight quarter in the three months ended Dec 31, the longest streak since data was first published in 1975.