New private home sales up almost 15%, thanks to HDB upgraders: The Straits Times

Singapore’s property market is artificially suppressed by the government via rounds and rounds of cooling measures. The market was dampened but we did not witness a significant drop in property prices. On the contrary, property prices continued to increase slowly, but steadily.

With more HDB reaching MOP, and more Singaporeans who aspire to stay in private housing (different lifestyle, status, environment, etc), and also the increase in population every year, there will still be demand for new private homes. This demand for new homes also positively affects the property market, and we are expecting a 2% growth in the next 1 to 2 years.



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