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SINGAPORE — Despite a dampened economic outlook, the private property market was in rude health in the second quarter, with the transaction volume of new homes and prices both rising.
Nevertheless, with Singapore’s economic growth set to slow in the second half of the year, analysts were divided on how the chips will fall for the property market — given that the global uncertainty has already seen an influx of foreign investors snapping up homes here in recent months.
SINGAPORE: Private home prices in Singapore bounced to a five-year high in the second quarter after slipping in the prior two quarters in the face of property curbs, underlining the resilience of the country's real estate sector widely seen as a safe haven.
The private residential property index increased 1.3 per cent to 150.5 points in the second quarter, from 148.6 points in the first quarter, according to flash estimates from the Urban Redevelopment Authority (URA). The index was at its highest since the first quarter of 2014.
