Singapore housing prices fell for the first time in five quarters, as purchase restrictions and high interest rates cooled the property market
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Singapore's property prices have fallen for the first time in five quarters, with the private residential price index dropping by 1.1% on a quarter-on-quarter basis. Due to purchase restrictions and high interest rates, the property market transactions have slowed down, and it is expected that new home sales this year will hit the lowest level since the global financial crisis. Morgan Stanley predicts that property prices will fall by another 1% in the fourth quarter, and by 5% next year
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