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Confidence In Home Ground

Confidence In Home Ground

Residential Market Watch Q4 2020 Burst of Activity The confidence which crept back slowly after the economy reopened in late-June gained speed as the strict enforcement of safe distancing measures help to reduce the community spread. As more new projects were launched, buyers returned with fresh enthusiasm. The burst of activity seen in new projects launched from August onwards helped to push new home sales in H2 2020 to 1.6 times of that in H1 2020 and the price index to rise by 2.9% over the same period. Extraordinary take-up rates were seen at some much-anticip...

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Occupiers Review Space Needs

Occupiers Review Space Needs

Commercial Market Watch H2 2020 Office Market Awaits The Return Of Workforce The office market went through a period of adjustment during the second half of 2020 as the economy and businesses responded to the impact of the Covid-19 pandemic. The most drastic change came during the 2-month circuit breaker (7 April-1 June) when the government enforced the closure of workplaces and employees to work from home (WFH) for business that are less critical to daily living. Even when the government implemented the Phase Two reopening of the economy from 19 June onwards, telecommuting remaine...

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Bungalows: Timeless Luxury

Bungalows: Timeless Luxury

Luxury Homes H2 2020 Luxury bungalows led the way The buoyant mood of the bungalow market in the second half of 2020 resulted in the sale of 31 bungalows in the Good Class Bungalow (GCB) areas and nine bungalows at Sentosa Cove. The sales momentum in first half of 2020 was much slower with 14 deals in the GCB areas and four at Sentosa Cove, largely attributable to the outbreak of the Covid-19 pandemic. In order to prevent the spread of the virus, the government imposed a two-month circuit breaker (7 April to 1 June) during which property viewing and face-to-face meetings among buy...

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Residential Market Bounced Back

Residential Market Bounced Back

Residential Market Watch Q3 2020 Strong demand upheld prices Contrary to market expectations that demand for homes would slow and prices would cool in the midst of a recession hit economy, the Q3 2020 total home sales volume turned out to be the highest since Q2 2018 with the price index edging up for the second consecutive quarter. This shows that there is still liquidity in the market and that investors’ confidence in residential property is returning despite the recession. After the two-month circuit breaker ended on 1 June, the government allowed the economy to reopen in...

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Residential Market Persevered

Residential Market Persevered

Residential Market Watch Q2 2020 Homebuyers remain engaged Defying the odds that the two-month circuit breaker from 7 April to 1 June might cause the residential market to stall in Q2 2020, a very encouraging result of 2,664 transactions and a 0.3% q-o-q rise in prices surprised the market. This could be attributed to genuine purchases by homebuyers with strong financial health. It also shows that the cooling measures put in place by the government in the past years had helped to ensure financial prudence among buyers as well as a sustainable rate of price growth. At...

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Covid-19 Tested Office Market

Covid-19 Tested Office Market

Commercial Market Watch H1 2020 Rise Of Telecommuting The Covid-19 pandemic have led to more than 80% of the Singapore workforce telecommute during the lockdown period. Businesses have made that leap to remote working, setting off a trend that might displace the need for huge office spaces. Even as the lockdown is gradually easing, companies will have to rethink how work desks should be arranged and whether ideas such as hot desking should be continued. As telecommuting becomes more and more acceptable, firms may downsize their footprint within the Central Business District (C...

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Bungalow Sales Bolster Luxury Market

Bungalow Sales Bolster Luxury Market

Luxury Homes H1 2020 Luxury homebuyers tread carefully The COVID-19 pandemic, described as “the crisis of a generation” by PM Lee, disrupted the global economy in a way never seen before. Global economies almost came to a standstill from March to May as most countries shut their borders and imposed lockdown measures on workplaces, schools, malls and F&B outlets in a bid to stop the spread of the coronavirus. In the property market, sales galleries were closed and all property viewings suspended until 1 June. The lockdown has since gradually eased. Some of the l...

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Covid-19 Shocks The Market

Covid-19 Shocks The Market

Residential Market Watch Q1 2020 Covid-19 the economic contagion Two waves of contagion were created by Covid-19. The first is a disease-based contagion that threatens human lives as it overwhelms domestic healthcare and social protection systems. The second wave is the adverse effects of Covid-19 on both the economic demand and supply sides that is sweeping through more and more countries. Governments need to respond swiftly with adequate and integrated policies to prevent this outbreak from turning into an even bigger crisis which will affect businesses and livelihoods. In...

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Capitalising On New Projects

Capitalising On New Projects

Residential Market Watch Q4 2019 Mass market prices led the way Private home prices edged up by 0.5% q-o-q in the fourth quarter, based on the movement of the URA price index. This modest upside followed the 1.3% and 1.5% gains in the previous two quarters even though there was a 0.7% decline in Q1 2019. Prices of non-land homes in Q4 2019 were largely supported by mass market transactions, as evidenced by the 2.8% q-o-q increase in the price index for Outside Central Region (OCR). The price index for both the Core Central Region (CCR) and the Rest of Central Region (RCR) post...

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A Good Run For Office Market

A Good Run For Office Market

Commercial Market Watch December 2019 Slowing economy In the first three quarters of 2019, Singapore economy grew by 1.1%, 0.2% and 0.7% when compared to the same period last year. Advanced estimates by the government showed that the economy grew by 0.8% in the final quarter which puts the economy on track for a growth of 0.5% to 1.0% in 2019.  Singapore’s export-oriented economy hit a snag amid the ongoing trade war between the US and China as well as a cyclical downturn in the electronics sector. Firms took a cautious stance as they weighed their decisions...

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