Luxury residential home prices down 6% in 2014, record biggest drop in Asia Pacific

Prices will slip further this year.

Prices of luxury homes in Singapore recorded the biggest drop in Asia Pacific in 2014, after declining 6% for the full year.

According to JLL, the decline was brought about by a myriad of policies aimed at a piloted market adjustment.

In contrast, Hong Kong market expanded by over 2% on the back of pent-up demand arising from policy relaxation.

The strongest price growth was recorded in Manila last year, with property prices jumping 9.7% year-on-year.

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