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S'pore residential property market remains resilient despite downturn
Experts point to cooling measures, massive govt stimulus to save jobs
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The HDB resale price index has had six straight years of decline, but is poised to defy the pandemic and post the strongest annual growth since 2012. With demand expected to stay robust, HDB resale prices could grow by 2.5 per cent to 3 per cent this year, said Ms Wong Siew Ying, PropNex's head of research and content.
ST PHOTO: LIM YAOHUI
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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.
