Prices of Singapore non-landed private homes drop by 31% in first quarter of 2016 compared to the last 3 months of 2015, according to the latest Global House Price Index of Knight Frank.
The index, which judged the performance of 55 housing markets, Singapore ranked 51st place among the countries with worst performance.
Globally, the index rose by 3.4% on average for the year to March 2016. However, despite the rising trend, growing of prices rate is slowing, Knight Frank stated.
The cooling is notably seen at the leading performing markets, such as Turkey, which ranked first in yearly ranking for the fourth straight quarter. Turkey seen its rate of annual price growth fall from 18 percent in fourth quarter of 2015 to 15 percent in Q1 2016.
The country Ukraine remains weakest performing market worldwide, with 10.5% dropped of prices in Q1 from a year ago.
Singapore Property continue to offer excellent quality private homes such as The Asana and Gramercy Park.
