Singapore house prices fall for eighth quarter

Singapore house prices have fallen for the eight quarter in a row, according to new data.

Preliminary figures from the Urban Redevelopment Authorit show that prices fell 1.3 per cent in the third quarter of 2015, the worst slump recorded since June 2009 and the eighth quarterly drop in a row. The fall has been attributed to the cooling measures introduced by officials in 2009 to prevent overheating.

Nicholas Mak, an executive director at SLP International Property Consultants in Singapore, tells the SCMP that the impending slowdown in the Chinese economy "may also have slowed demand as Chinese buyers were the more active buyers in Singapore".