Singapore’s property market has weathered the city’s worst recession on the back of low interest rates and government stimulus. And buyers are coming back to the market, with the government forecasting the economy will expand 4% to 6% next year due to easing of travel restrictions and local safety rules.
The city-state last week lifted border restrictions for visitors from Taiwan and is eyeing lifting virus measures which could see the maximum capacity for public gatherings raised from five to eight.
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“With countries already buying vaccines and Singapore expected to ease more virus measures in the coming months, there’s optimism in the market that home prices will jump,” said Christine Sun, head of research and consultancy at OrangeTee & Tie. “Locals who want to purchase a home to live in and investors want to capitalize on current prices. So, they’re coming out to buy.”
