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Property Market Updates

Singapore Quarter 3, 2020

2020 Q3

15 min read

Based on advanced estimates released by the Ministry of Trade and Industry (MTI) on 14 Oct 2020, the Singapore economy contracted by 7.0% year-on-year (y-o-y) in 3Q 2020 following the 13.3% y-o-y decline in 2Q 2020. The two quarters marked the steepest declines in the post Global Financial Crisis period (Table 1). On a quarter-on-quarter (q-o-q) basis, the Singapore economy expanded by 7.9% in 3Q 2020, an improvement from the decline of 13.2% in 2Q 2020. Read More

Singapore Quarter 2, 2020

2020 Q2

15 min read

Liquidity amid low-interest environment continues to support transactions even as overall market remains subdued. The deferment of mortgage payments till the end of the year will help homebuyers that are struggling with their finances. The extension of the project completion period and extension of the sale of housing units relating to the Additional Buyer’s Stamp Duty (ABSD) remission will also assist developers who were affected by manpower constraints. Read More

Singapore Quarter 1, 2020

2020 Q1

15 min read

Real estate markets grapple with pandemic headwinds as COVID-19 anticipated to persist through 2020. The Novel Coronavirus (or COVID-19) pandemic, which emerged in late 2019, has caused global disruptions to the economy that was already weak in 2019. Construction activities were impacted significantly due to supply chain disruptions and delays in the return of foreign workers. Read More

Singapore Quarter 4, 2019

2019 Q4

15 min read

Based on Q4 2019 Urban Redevelopment Authority (URA) flash estimates released on 2 January 2020, private home prices for the fourth quarter of 2019 reflected a marginal 0.3 per cent q-o-q and 2.5 per cent y-o-y increase. Read More

Singapore Quarter 3, 2019

2019 Q3

15 min read

Residential prices continued to rise for the second consecutive quarter, and, in this regard, appeared to have diverged from economic fundamentals. However, this does not allude to a buoyant market as other factors such as declining average sell-down rates, higher land costs and compressing developer’s margin, have to be taken into account. Read More

Singapore Quarter 2, 2019

2019 Q2

15 min read

The slowing global economy and the escalation of the trade conflict between the US and China prompted the Ministry of Trade and Industry (MTI) to lower Singapore’s gross domestic product (GDP) growth forecast to 1.5 to 2.5 per cent (from 1.5 to 3.5 per cent) in May 2019. However, this revised forecast is being reviewed with early indicators suggesting that Q2’s growth rate could be less than Q1’s 1.2 per cent. Read More