Singapore's home prices could fall more than expected this year and unwinding cooling measures may not staunch any damage, Nomura said.
Most analysts already expect the city-state's private home prices to decline, forecasting a peak-to-trough correction of around 10 to 15 percent through 2016, with a drop of around 5 percent this year, Min Chow Sai, an analyst at Nomura, said in a note.
But he thinks 2014's pace of decline could surprise, potentially falling more than 10 percent by the end of the year.
(Read more: Is Singapore set for an Icelandic-style crash?)
