S'pore developers post worst showing on STI

[SINGAPORE] Singapore's developers posted the worst performance on the benchmark Straits Times Index this year after recording the biggest gains in 2012 as property curbs drove home sales lower and slowed price gains.

Property stocks in Singapore, ranked the most-expensive city to buy a luxury home in Asia after Hong Kong, may further languish next year after the government took measures to cool prices.

Home sales may decline 10 per cent next year while prices are expected to drop for the first time in two years, according to broker Chesterton Singapore.