SC Capital staying clear of Singapore home market until prices drop 30%
Founder says intensity and severity of government cooling measures "caught us by surprise"
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Singapore
SC CAPITAL Partners, which booked a loss from the sale of Singapore apartments to Blackstone Group LP in January, said that prices in the city-state need to drop another 30 per cent.
Suchad Chiaranussatti, founder of the Asian property fund, said that he won't be re-entering the Singapore residential market until he sees a further decline in prices. Prices need to drop by about 20 per cent to 30 per cent to make residential investments attractive again, he said in an interview.
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