"Investors continue to throng the property market ... amid the growing economic uncertainties and turbulent equity markets," said Ms Christine Sun, head of research and consultancy at OrangeTee.
“Some sectors – such as financial services and tech - have held up better than others amid the COVID-19 pandemic ... those who feel more secure about their job prospects or have built up substantial savings ... may see this as an opportune time to enter the market,” said Ms Wong Siew Ying, head of research and content at Propnex.
“Should Singapore’s GDP growth be in such negative territory in 2020, the inevitable job losses and business closures will take its toll on the private residential market despite its current characteristic resilience,” said Leonard Tay, head of research at Knight Frank Singapore.Meanwhile sales of pricier homes, which are typically bought by investors and higher-income Singaporeans, hit a seven-year high, based on analysis by Ms Sun of OrangeTee.
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