by OrangeTee & Tie Pte Ltd.

Pandemic-fuelled demand drives EC prices to record high



Singapore, 01 Apr 2021

REAL estate markets have been booming globally amid the macroeconomic headwinds and market uncertainties. Strong buying sentiment, fuelled by record-low interest rates and ample liquidity, drove up prices of properties higher in many advanced cities.

As a prominent property hotspot, Singapore has similarly seen a sales rebound for both the private and public housing sectors. Property demand remains fundamentally strong and many Singaporeans were snapping up properties around the island. The strong buying momentum, coupled with a depleting housing supply, is starting to weigh on the market as home prices creep up in recent months.

As work-from-home policies become the standard across many industries, people are now enjoying greater liberty to live where they want rather than where their jobs require. Buyers are shifting away from the city centre and looking for larger and cheaper homes in suburban areas. As they expand their search to the broader reaches of the island, executive condominiums (ECs) have caught the eye of many prospective buyers.

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