Quit complaining: Singapore houses actually got cheaper in real terms

Price change after inflation fell 3.28% in Q212 compared to 5.27% rise a year ago.

No end to the global housing market downturn is in sight, except probably in the US, according to a survey of global house price trends by the Global Property Guide. Asia is weakening, and house price falls in the worst-hit European crisis countries are dramatically accelerating.

The Global Property Guide's statistical presentation uses price changes after inflation, which it claims, gives a more realistic picture than the more upbeat nominal figures usually preferred by real estate agents. Nominal figures can be misleading, as suggested by the fact that year-on-year in Q2, nominal house prices rose in more countries (21 countries) than fell (18 countries).