Singapore home prices rise for first time in four years
October 06, 2017 - Singapore
Singapore’s home prices rose for the first time in four years, snapping a record run of declines and confirming recent signs that the property market is rebounding.
A jump in home sales and developers’ aggressive bids for land are stoking optimism that the property market is making a comeback. At the same time, the bulk of Singapore’s cooling measures rolled out from 2009 are still in place.
Before the latest data, a 15-quarter decline in prices was the longest since the index was first published in 1975.
“The price rise was expected because sentiment has been buoyant,” said Christine Li, director of research for Singapore at Cushman & Wakefield Inc.
Li expects prices to remain flat for 2017 and rise 5 percent in 2018, as developers market a “significant” number of new homes at higher prices.
Trends, real estate prices