By Property Soul (guest contributor)
The property market in 2014 started with a series of bad news from the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB).
How bad are the numbers?
On 2nd January 2014, HDB announced that the HDB Resale Price Index continued to drop in the 4th Quarter of 2013. The 1.3 percent decline was the worst since eight years ago in 2005.
The URA also released disappointing estimated figures of private home sales in the 4th quarter of 2013. The Private Residential Property Price Index fell 0.8 percent.
Even the usually resilient landed home market had its price index drop 1.2 percent from the previous quarter. Overall, luxury homes were the worst performer with prices falling by 2.1 percent last year. Residential units sold in the prime districts were down 20 percent compared with 2012.
In the entire year ...
