Singapore’s renovation business is experiencing a boom, mainly due to the upcoming Lunar New Year and the anticipated improvement in the property market.
According to several contractors, they have seen business increase by 20 percent from Q4 2009.
For contractors, the New Year period is customarily a boom time, as homeowners usually want to renovate their homes in time for the Lunar New Year.
However, more renovations mean a longer time for work to be completed.
To cope with this scenario, contractors said they either decline some projects or hire more workers.