SINGAPORE (Jan 2): Singapore home prices posted their first decline in six quarters as the government’s cooling measures imposed in July started to bite.

Private residential prices slid 0.1% in the last three months of the year, according to preliminary data from the Urban Redevelopment Authority released Wednesday. Luxury was the segment hit the hardest, with prices in prime areas dropping 1.5% after climbing 1.3% in the previous quarter. Still, the index posted a 7.9% gain for 2018 as a whole, the best annual increase in eight years.

See: Singapore raises ABSD, tightens LTV after strong property price gains

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