Singapore drops to 9th place in Knight Frank house price index
Annual price growth in Singapore, which ranked No 5 on the list in the March quarter, stood at 6.7 per cent in the second quarter of the year, down from 37 per cent a year earlier.
Knight Frank, which concluded the global housing market is at its weakest since 2009, said similar patterns are emerging in India and China, which recorded quarterly price falls of 1.7 per cent and 0.1 per cent respectively.
"There are clear signs that Asian policy measures, aimed at cooling asset price growth are having some success," the report said.
Despite these more muted results, Asia continues to be the top-performing continent in terms of house price inflation - a position it has held for seven consecutive quarters.