Singapore private home prices drop 1.2% in Q1 amid coronavirus outbreak

SINGAPORE – Singapore’s property market may have caught its first chill from the coronavirus with quarterly private home prices declining for the first time in a year.

According to flash data from the Urban Redevelopment Authority (URA) on Wednesday (April 1), prices of private residential properties dropped 1.2 per cent in the first three months of the year from the previous quarter.

Private home prices rose 2.7 per cent last year in a modest recovery from the July 2018 cooling measures, with prices rising 0.5 per cent in the final quarter of 2019.

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