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SINGAPORE, April 1 (Reuters) – Private housing prices in Singapore recorded their biggest drop in two-and-a-half years. Preliminary data revealed Monday a 0.6% drop in the first quarter, following tighter ownership restrictions last year.
The Singapore government stepped up property restrictions in July, following a 9.1% annual increase in home prices and the fact that developers paid record amounts to buy land.
Prices fell 0.1% in the fourth quarter of 2018, the first decline in six quarters, according to the Urban Redevelopment Authority. (Report by Aradhana Aravindan, edited by Gopakumar Warrier)
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