Where’s the Singapore property market headed in 2021? In this post, we take out our crystal ball and gaze into it to see where property prices will end up by the end of the year.
We won’t give you what we think, but we’ll draw on experts in the business who track the market day in and day out, to see how they think prices will fare this year.
Starting with Morgan Stanley. They think prices will rise 5% this year.
From a stable 2020 to a rising year, Morgan Stanley expects home price growth to accelerated to 5% from 2% growth in 2020, as the global and Singapore economies enter a V-shaped recovery.
Demand is also likely to come from additional headcount of multi-national companies such as Google, Zoom, Tencent and Bytedance expanding their operations in the country.
Positively for property prices, the net wealth of Singaporeans in property is at a historically low level. On the other hand, many Singaporeans are sitting on a lot of cash....