by OrangeTee & Tie Pte Ltd.

Singapore private home prices rise by faster pace in Q3, defying Covid-19 recession

SRX Private Residential Data

SRX Private Residential

SG, 01 Oct 2020

After a nearly two month long circuit breaker, Singapore enters the second phase and despite the recession, private property pricing is steadily increasing in the 3rd quarter. Flash estimates from URA showed that the overall price index for private residential properties rose by 0.8 per cent.

 "Waves of quantitative easing (QE) by central banks around the world to stimulate their economies may also have the effect of pushing up asset values and property prices as new money filtering through the economies can increase the investment capital for properties. Investors’ confidence was also boosted by an increase in foreign direct investment, especially from healthcare firms and tech giants,” said Ms Christine Sun, head of research and consultancy at OrangeTee & Tie.

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