Market Pulse Ep 7: Private Residential Market Performance 2021 Q1

The overall price index for private residential properties rose by 3.3 per cent in Q1 2021, the steepest quarterly increase since Q2 2018. Sales of luxury and city fringe homes increased significantly due to a few mega launches in the Core Central Region and Rest of Central Region. Luxury homes hit their highest quarterly sales in over three years (since Q3 2017) as more ultra-high net worth individuals and foreign investors return. Foreign buying activities rose to a one-year high as more non-landed private homes were bought by non-permanent residents. Private home purchases by permanent resident surged almost 30 per cent quarter-on-quarter. Foreign demand is expected to return with more economies re-opening and prospects of further price growth.

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