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While property prices have historically risen, economic uncertainties and demographic shifts suggest a more complex future, says NUS Business School's Sing Tien Foo.
The assumption that property prices will always rise is not guaranteed. (Illustration: CNA/Clara Ho)
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SINGAPORE: Many people subscribe to the belief that property prices can only go up. It’s not hard to fathom why: Flash estimates show Housing and Development Board (HDB) resale prices surged 9.6 per cent in 2024, almost double the 4.9 per cent increase in 2023. The private housing market, while more subdued, still grew by 3.9 per cent.
The demand for resale HDB flats also remained strong, with transaction volumes increasing by 8.28 per cent, totalling 27,889 sales.
The government has intervened several times to prevent the resale HDB market ...
English (US)