Singapore, 26 Aug 2021 Singapore's construction industry’s challenges could continue for the rest of the year at least, despite support from the government, trade associations and banks. This is expected to continue fuelling demand and pushing property prices up, experts said.
About 88 per cent of developers recently polled by the National University of Singapore (NUS) indicated they were “very concerned” about high labour costs in the next six months, higher than the 71 per cent in the first quarter.
Steven Tan, director of property agency OrangeTee, said demand for public and private properties has been rising and listings for both new launches and resale flats are being snapped up on the same day. “Buyers are more willing to spend on bigger but older flats due to work-from-home requirements.”