With cracks beginning to emerge in Singapore's housing market following multiple rounds of cooling measures, questions are arising as to when the government will begin roll back its tightening policies.
Private home prices in the city-state registered their first drop in seven quarters in the October-December period, falling 0.8 percent on-quarter. Meanwhile, public housing prices posted their second consecutive quarterly drop, down 1.3 percent – the worst reading in eight years.
(Read more: Singapore real estate may be losing its shine)
Meantime, developer sales fell 30 percent to 14,678 units in the first eleven months of 2013, from the 20,880 units sold in the same period a year earlier.
Tricia Song, analyst at Barclays says that based on historical experience, the government is unlikely to relax the measures until prices decline 10-15 percent.