Prices have increased for Singapore's private residential market, with the largest yearly price growth since 2010. The fourth-quarter growth continues of the back of seven consecutive price gains.
However, the growth in private home prices are likely to moderate this year due to the implementation of new cooling measures.
"After cooling measures were implemented in 2018, private home price growth moderated from 7.9 per cent in 2018 to 2.7 per cent in 2019 and 2.2 per cent in 2020. Similarly, the price index slipped for three years after cooling measures were implemented in 2013," Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie said.