The Circuit Breaker seems to have had the strange effect of slowing Covid-19, and accelerating property sales. We like to think the trauma of being stuck at home for so long has made everyone realise they really need their own place (either that or expensive therapy, should another lockdown be needed) – whether or not there’s any way to prove that. In any case, anyone hoping for cheaper homes due to Covid-19 fall out can probably throw in the towel. Both public and private housing sectors are booming:
What’s happened to the property market in Q1 2021?
URA flash estimates previously put new condo prices at an increase of 2.9 per cent, for Q1. As it turns out, the actual increase was 3.3 per cent for Q1. This makes it the fourth consecutive quarter of rising prices: