Singapore house prices declined for the first time in six years in 2014, data from the Urban Redevelopment Authority showed Friday.
For the whole year of 2014, residential property prices fell 4 percent compared to an increase of 1.1 percent in 2013. This was the first full year decline since 2008.
In the fourth quarter, house prices decreased 1.1 percent, faster than a 0.7 percent drop in the prior quarter. This was the fifth straight quarter of gradual price decline.
According to flash estimate released earlier in January, house prices registered a 1 percent sequential fall in the fourth quarter.
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