SINGAPORE
This is a quick housing update for Singapore for the third quarter of 2020.
Are sales up or down (hard numbers) during the continuing COVID crisis? What about prices?
- Overall all the housing market remains soft for 2020 due to the pandemic.
- Real Estate market is seeing a rise in sales and prices post COVID lockdown.
- Housing market supply / demand has been relatively stable.
- Prices vary per area.
Are new construction projects moving forward (housing start numbers)?
- New constructions projects have been slow with developers concentrating on the completing existing projects.
What status of the COVID pandemic for Singapore and the government's continued response?
- COVID situation remains under control. Singapore government warns that everyone should stay alert and continue keeping social distancing.
- Airport remains closed to foreign visitors, except for business purpose, special permission, and work permit. Three countries have the priority entry permission: China, Brunei and New Zealand. Government is considering opening to Japan. Mandatory 14-days state quarantine applies.