Some months ago, property prices hit a 5-year high, which gave rise to increased concerns over the widening affordability gap between private housing prices and wages.
Some reasons for the rising prices in private housing include heightened foreign buyer sentiment as Singapore is seen as a 'safe haven', as well as higher costs of new launches, since developers bought land at a high cost during the property boom in 2017 and 2018.
With these pressures surrounding the current property market, here are 5 property trends from PropertyGuru's Property Market Outlook 2020 you should know about if you're thinking of buying property in the coming year.
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Decentralisation of Core Central Region CCR