Singapore's private home prices up 0.9% in Q2, fifth consecutive quarterly rise

With construction delays and a labour crunch amid the pandemic, more buyers are turning to the resale market, analysts said.

Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said there is an"enormous demand" for completed homes in the suburban areas.More buyers also opted for bigger homes, with 39.6 per cent of transactions with homes of at least 1,200 sq ft, up from 35.8 per cent. However, some landed home owners raised their asking prices after a strong run-up in prices in the first quarter. This put their properties out of reach of some buyers, resulting in slower price gains in the second quarter, said Huttons Asia CEO Mark Yip.

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