Property investors anticipated a boom in Singapore as prices increased sharply by 9.1 percent over the past year. However, the Monetary Authority of Singapore (MAS) introduced strong measures to dampen what it describes as “euphoria” in the market.
Hong Kong’s richest man signaled he sees no end in sight for the demand in property that’s been driving up prices in the world’s most expensive real estate market.
Singapore developers may extend their share rally into 2018 on a reviving home market, according to money managers and analysts, who say the central bank’s warning on a potential oversupply may not play out for years.
Singapore’s home prices rose for the first time in four years, snapping a record run of declines and confirming recent signs that the property market is rebounding.
Singapore home prices have reached a bottom and will rebound, while Hong Kong’s “crazy” housing market will continue to defy gravity, according to BNP Paribas.
After years of declining home prices in Singapore, analysts are expecting a turnaround as early as this year even as most of the government’s property cooling measures remain in place.