Home RSS
Real Estate

Singapore home prices continue to defy expectations

Property Report
Singapore home prices continue to defy expectations - Singapore - home prices

Will home prices ever fall in Singapore? It did marginally in the first quarter by 0.1 per cent after the Additional Buyer’s Stamp Duty (ABSD) was introduced in December last year. However, the property market has since rebounded inching up 0.4 per cent in the second quarter to reach an all-time high of 206.9 points.

While many foreigners and speculators have exited the market, driving demand now are genuine home buyers, especially for homes in the suburbs. Factors leading them to purchase homes include the low interest rates, a more affluent population with substantial cash savings and the need to upgrade or start a family. In addition, developers are ramping up supply by continuing to launch mass market condos.

This begs the question if property prices in Singapore will ever fall? Well, for this to happen it will take more than just the government’s intervention. The only time property prices fell in Singapore is during a financial crisis like the last one we had in 2008/2009.


Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.