Singapore is a real estate oasis amid COVID-19 and US-China tensions

The economic battering Singapore has endured from the pandemic and global trade tensions does not appear to be reflected in its property market.

At the same time as government data showed that the national economy shrank by 13.2 per cent year-on-year in the second quarter, private home prices rose by 0.3 per cent quarter-on-quarter, according to the Urban Redevelopment Authority (URA).

And while the third quarter revealed some economic relief – the contraction moderated to just 7 per cent – the URA’s latest data shows that private home prices rose again, gaining an additional 0.8 per cent, with even stronger growth in the volume of new home sales.

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SOURCE: South China Morning Post 

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