Singapore Home Prices Have Longest Drop in Almost 2 Decades

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Singapore Home Prices Have Longest Drop in Almost 2 Decades

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02-04-2016, 05:40 AM

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Singapore Home Prices Have Longest Drop in Almost 2 Decades

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“Prices will continue their slide this year as the government has said it’s too early to remove the curbs,” said Nicholas Mak, an executive director at SLP International Property Consultants in Singapore. Mak estimates prices could decline from 2 percent to 5 percent in 2016.

Kwek Leng Beng, the billionaire executive chairman of City Developments Ltd., which built luxury condominiums such as the St. Regis Residences near the Orchard Road shopping belt, said in February he is expecting the government to remove stamp duties on home purchases.
The government needs to calibrate the cooling measures to engineer a soft landing, the Real Estate Developers’ Association of Singapore President Augustine Tan said in February.

http://www.bloomberg.com/news/articl...st-two-decades

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