Singapore demand nearly triples in New Year
Singapore’s demand for new residential projects almost tripled in January according to the country’s Urban Residential Authority.
1,872 new home sales were recorded in the city-state last month, compared to 632 in December.
Donald Han, special advisor for HSR International Realtors, said that the demand spike is down to “the fact that investors still have confidence in the residential property market, the Singapore economy as well”.
“There is a fair amount of pent up demand for good located, mass market products,” he added.
The news comes despite warnings from local experts that the Singapore market is heading towards a recession, as reported by OPP.