Cooling measures have desired effect in Singapore
Private home prices in Singapore have now reached their lowest level in more than four years, after falling for the eighth straight quarter; prices fell 1.3% in 3Q on the same period in 2014. Reports claim that the decline has been brought on by cooling measures introduced by the government, which have included increases in stamp duty and tougher mortgage conditions. Prices are expected to fall 0.8% to 1.2% in 4Q.

Prospective buyers look at a model of an upcoming suburban private condominium development during its launch in Singapore. Prices of Singapore's private homes fell for the eighth straight quarter due to government cooling measures. Photo: Reuters