Singapore’s property market is booming, with resale flat prices at eight-year-highs, and private home prices rising for four straight quarters. Coupled with job worries over Covid-19, and construction delays, all of this poses a problem for young, first-time home buyers. The hard truth is that, despite the volatile economy, home prices aren’t falling; and sellers have sufficient holding power to demand high prices.
Here’s a look at the issues facing young home buyers:
- Prices are rising in almost all property segments
- Condo prices supported by a slew of HDB upgraders
- The return of Cash Over Valuation (COV), with rising prices for resale flats
- Affordable new homes are often too small for families
- Construction delays coupled with rising rental rates
- Prices are rising in almost all segments
...
