Property market overview in 2020 & how it will impact 2021?
- Shirley and Pamela
- Feb 9, 2021
- 1 min read
There’s no doubt that 2020 was a watershed year for the real estate industry in Singapore. Despite recession, Singapore’s property market continued to grow bullish with HDB resale prices climbing 5% in 2020, as sales hit 8-year high. While the Resale condo prices maintain an upward trend with a resale volume 18% higher than for 2019.
Against the backdrop of the unemployment market & recession, why are Singapore properties going against the economic fundamentals? This is not an uncommon scene. When the unemployment rate surges, the weakening of the economy will create a lower cost of debt, creating opportunities for many home buyers & investors.
As we approached 2021, the real estate market is expected to defy gravity, with housing demand and buying sentiments to continue picking up. Especially with growing vaccine optimism & potential macroeconomic recovery.
The lack of supply in the new launch segment has come to an almost complete halt, coupled with the high demand interest, would there be a resurgence in new pricing?
Owning a home has arguably been one of the best ways to ride Singapore's growth and development. But according to the government's latest remarks on the possible property cooling measures has also sparked new concerns among property watchers.
Despite the recession and growing unemployment, demand for property is expected to remain resilient in 2021. Discover the latest property insights to find out the best investment deals today before the market inch up further with the recovery of the economy.
At Wonder Homes, we have helped many people make the best of the property market.
Check out our website, at www.wonderhomesg.com, and drop us a call today!
Pamela Tan: 9457 6525
Shirley Wang: 9436 1909
Comments