Unfazed by the economic uncertainties brought on COVID-19, property prices have continued to rise for the sixth consecutive quarter. PropertyGuru's Singapore Property Market Index Q4 2021 saw an increase of 3.88 per cent, or 4.73 points.
Still, the Government does not feel that the property market is overheated yet. But if trends persevere, the likelihood of cooling measures being introduced looms heavier.Tightened COVID-19 safety measures during the Phase 2 from Jul 22 to Aug 9 limited physical property viewings. Like in the previous quarter, this probably lengthened transaction periods and online property advertisements lifespans.
This is due to the good performance from launches in the past two years and the preference for larger homes due to enduring work-from-home arrangements. Also, mass-market condominiums in the OCR hit the sweet spot between price and size.
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