Singapore private home prices fall 5.7% in Q4

Special Report:Global Financial Crisis

SINGAPORE, Jan. 2 (Chinese media) -- Singapore's private

home prices fell 5.7 percent in the fourth quarter of 2008, the country's Urban

Redevelopment Authority (URA) said Friday.

Based on the estimated price index of private

residential property, prices fell to 163.4 points from 173.3 points in the third

quarter of 2008, which represents a decline of 5.7 percent, compared with the

2.4 percent decline in the previous quarter, the URA said.

Prices of non-landed private residential properties

decreased the biggest in core central region, down by 6.3 percent. Prices

declined 5.5 percent in rest of central region and 4.7 percent in outside

central region in the quarter.

Some experts expected the country's property prices

could decline further in 2009.