The fundamentals that underpin housing demand in Singapore remain intact.
This chart from PropNex research shows that a look back in history paints a resilient picture of the residential market, which has recovered after each crisis with prices generally keeping pace with economic growth.
The fundamentals such as transparent regulatory framework, pro-business policies, safety and stable political environment that underpin housing demand in Singapore remain intact.
In addition, the government has opened its wallet, pouring nearly $100b to help cushion the financial and economic fallout in Singapore.
The pandemic has temporarily derailed the healthy growth in the property market. Going forward, demand and prices should track closely with Singapore’s economy. It will be long road to economic recovery, but the long-term outlook for the Singapore residential property market remains positive.
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