Worst may not be over for Singapore

Housing prices may fall between 3% and 6% this year, according to analyst forecasts, as the city-state faces a sharp recession in the wake of the pandemic.

SINGAPORE: Singapore home prices fell the most in three years in the second quarter as a city-wide shutdown to contain the coronavirus put the brakes on the property market.

Analysts said the slide may not be over. Property values declined 1.1% from the previous quarter, according to the Urban Redevelopment Authority’s preliminary estimate yesterday. In the first quarter, prices dropped 1%.