SINGAPORE — Despite talk of a possible recession and the global economic uncertainty, private property prices in Singapore have hit a five-year high.
This is based on second quarter flash estimates published on Monday (July 1) by the Urban Redevelopment Authority (URA).
The jump follows two straight quarters of falling prices. Industry analysts attribute the rise to factors such as large sums of en-bloc sale money filtering into the market, and Singapore’s reputation as a safe haven in troubled times pulling in some foreign investment money.