SINGAPORE: The latest data from the Urban Redevelopment Authority revealed that home prices in Singapore saw a modest increase of 1.4% from the previous three months, compared to a preliminary estimate of 1.5%. This marks a slowdown from the previous quarter’s 2.8% surge in 2023.
Yahoo Finance reports that despite the consecutive quarterly increases in home prices, factors like high-interest rates and government measures aimed at cooling the market have put pressure on demand, especially among foreign buyers eyeing luxury properties.Morgan Stanley, for instance, anticipates a 3% decrease in private home valuations in 2024, while Bloomberg Intelligence foresees prices remaining flat with a possibility of a decline.
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