Singapore residential property market remains resilient despite downturn

Analysts say this is due in large part to a slew of cooling measures coupled with massive government stimulus.
Analysts say this is due in large part to a slew of cooling measures coupled with massive government stimulus.ST PHOTO: LIM YAOHUI

SINGAPORE - The residential property market has proven to be one of the few recession-proof sectors amid a pandemic that has plunged the Singapore economy into its worst-ever contraction.

Analysts say this is due in large part to a slew of cooling measures to curb speculation and ensure that home buyers do not over-leverage, coupled with massive government stimulus to save jobs and prop up the economy.

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