Singapore, 26 Apr 2022 House prices have soared over the world since the Covid-19 pandemic broke out. Concerns have been expressed regarding Singapore's public housing system's affordability, with secondary market prices jumping 12.7% last year.
Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said the pace of the price increase in the public housing market was “quite remarkable given all the global uncertainties right now”
While million-dollar transactions make for dramatic headlines, they only account for a small portion of public housing sales. The average price of a flat in mature estates — residential areas that are more developed and equipped with greater amenities and transportation infrastructure – was S$547,908 last year, according to data from OrangeTee & Tie.