Singapore home prices dropped by 2.4% year-on-year in second quarter of 2016, placing Singapore among the worst performers, together with Taiwan and Hong Kong, according to Knight Frank's Global House Price Index.
The result shows a weak economic growth, the current tough property cooling measures and the US dollar's strength continue hampering sales of home in Asian markets, Knight Frank reported.
With 13.9 percent annual house price growth, Turkey leads the ranking followed by New Zealand with 11.2 percent house price growth.
Canada occupy the third place while Chile in fourth spot and Sweden in the fifth place. Rounding up the top 10 spots are Germany, Mexico, Iceland, Austria and Malta.
The overall aggregate index of Knight Frank has consistently registered a yearly growth of 4 percent, or approximately, over the past two years.
Best Singapore Property to check out in the coming years includes, The Park Place Residences and Gramercy Park.
Written by Siang Teck of Property Review. I can be contacted at [email protected]
