Overall home prices continued their steady upward pace in 2021; but property analysts have tipped private property prices to continue their rise as 2021 comes to a close. Prime region properties, which were lagging far behind fringe region counterparts, have shown signs that demand could be on the uptrend. Let’s look at what’s been happening and some of the possible reasons why:
How do non-landed residential prices look in Q3 2021?
The condo market retains its momentum, climbing for the sixth consecutive quarter. URA flash estimates show prices edging up to around 0.9 per cent, broadly similar to the pace set in Q2 (0.8 per cent rise).
While modest, Q3 mostly beat expectations. It was thought that a combination of the Heightened Alert (July to August), and the Seventh Month Festival (August to September) would see a much cooler market in Q3. As it turns out, most buyers have shrugged off these concerns.