Property
Why Are Private Home Sales And HDB Prices Rising Despite The Recession?
By Stacked Homes  •  October 6, 2020
From all the property news you’ve read, you might be inclined to think real estate is pandemic proof. As of August, new private home sales in Singapore are up for a fourth straight month – according to URA data, 1,307 new non-landed private homes (including Executive Condominiums) were sold, up about 16.3 per cent from July. On the HDB front, resale HDB prices seem to be on the rise after almost seven years of decline. Resale HDB prices are up 1.4 per cent in Q3 2020, with momentum gaining after a 0.3 per cent increase in Q2. Perhaps a graph will best demonstrate how dramatic the price movement has been: If we look back five years ago, resale HDB prices (average for all flat types in all towns) were $421 psf. April saw it fall to the lowest point in five years, at $408 psf. By August, the price had rocketed back up to $421 psf, the same as five years previous;...
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By Stacked Homes
The Stacked Homes editorial began in February 2017 to provide the latest news and analysis on property in Singapore.
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