Prices in the first quarter fell by 0.6 percent quarter-on-quarter, and 4.3 percent year-on-year.
"Prices of luxury homes in Singapore are expected to fall by up to five percent for the rest of the year."
-according to Jones Lang LaSalle.
“The Singapore high-end residential market continues to face price corrections especially with the 7th round of cooling measures introduced by the government in January this year. Policy affect coupled with slower population and economic growth are likely to continue to add downside pressure to capital values albeit moderately,” said Chua Yang Liang, Research Head for Singapore and South East Asia at Jones Lang LaSalle.