2020 has just zoomed past before we know it. What can we then expect from the property trend in 2021?
Real estate market in Singapore is poised for steady recovery and further price growth if economy rebounds strongly this year. Singapore's property market has witnessed a roller-coaster ride in 2020. Home sales have plunged to a historical low during the Circuit Breaker months in April & May 2020 however, things start to brighten up at the end of the movement restrictions with property buying activities rebounded strongly across many market segments.
Though the current pandemic may continue to cast a shadow over the broader economy, global markets have already looked past current headwinds and are now banking on the success of Covid-19 vaccines in the hope of returning to normalcy.
Below are the 4 property trends to watch in 2021;
1. Recovery to gather pace on fresh optimism
2. Diminishing home supply may continue to prop up prices
3. Final tranche of new homes to be released from latest collective sale cycle
4. HDB market emerging from the doldrums
