Singapore’s GDP decreased as Covid-19 paralyzed the economy but property market was least affected by the pandemic. As e-commerce businesses boom, demand for warehouses increase and offices’ rent fell less than what was anticipated. Private home sales also increase despite of the economy pressure and new home sale remained resilient with total figure achieved in 2020 comparable to that of 2019. We would expect pent-up demand in 2021 as low pipeline of supply of homes due to limited land parcel supply either through government land sale or enbloc cycle. Canninghill Piers is the latest integrated development and with its proximity to parks and lifestyle spots, will definitely attract keen investors or home-stayers who aspire to live close to Fort Canning Park.

Source: The Business Times

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