by OrangeTee & Tie Pte Ltd.

Singapore private home prices rise by 0.8% in Q3 amid recession

URA Quarterly Data

URA Quarterly Data

SG, 22 Oct 2020

Private home prices in Singapore continue to rise despite the pandemic-induced recession, with a 0.8 per cent gain in the third quarter from the previous three months, according to final data from the URA on Friday (Oct 23).

"The third-quarter price increase was driven by landed homes and a burst of buying in the city fringes and suburbs after the two-month circuit breaker ended on June 1," said Ms Christine Sun, OrangeTee & Tie's head of research and consultancy. "Many long-term investors and wealthy buyers are on the prowl for properties as many are repositioning their wealth from riskier assets," she added.

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