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Singapore private home prices fell in December from the previous month, according to data from the National University of Singapore, showing signs that new measures to curb the housing market are taking effect, reported Reuters.
Prices of private non-landed residential properties in Singapore dipped 0.8% last month, flash estimates from the university’s Singapore Residential Property Index (SRPI) showed. This compared with a revised 1.4% rise in November.
Singapore acted to cool the city-state’s housing market in December, saying foreigners who buy private homes will have to pay an additional stamp duty equal to 10% of the property value.
SRPI said home prices in the central region of the city-state dipped by 0.4%, while those in the non-central region fell 1%.
Last week, data from the Urban Redevelopment Authority showed private home prices rose just 0.2% in the fourth quarter of 2011 from the previous three months, slowing for nine consecutive quarters.
