Hello,
What is the current property market like in Singapore?
How is the property market in Singapore now?
Are property prices going down in Singapore?
What is the property trend in Singapore 2022/23?
Is it a good time to buy property in Singapore now?
Overall, the Singapore property market has remained resilient despite the impact of the COVID-19 pandemic.
In 2021, private home prices rose by 7.7%, the highest annual growth rate in nearly a decade, according to data from the Urban Redevelopment Authority (URA).
Demand for private homes has been driven by low interest rates, pent-up demand from the pandemic, and increased demand from foreign buyers.
The rental market has been more subdued, with rental prices for private non-landed properties remaining relatively stable in 2021, but with an increase in rental demand as Singapore continues to attract expatriates.
The HDB resale market has seen a strong recovery in 2021, with prices increasing by 10.9% from 2020, according to the Housing and Development Board (HDB).
The Singapore government has implemented various measures to cool the property market, such as increasing stamp duties and tightening loan-to-value ratios for property purchases.
Despite these measures, some analysts predict that private home prices could continue to rise in 2022/23, but at a slower pace than in 2021.
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