In a stark contrast to global gains, non-landed private home prices fell in Singapore last year, Knight Frank’s latest Global House Price Index showed.
In 2015, prices of private homes in Singapore dropped by 3.6 per cent year-on-year, putting the island nation at 51st spot on an index comprising of 55 countries across the world.
Its market had showed signs of stabilisation at the end of last year, said Knight Frank’s Singapore research head Alice Tan.
“However, with Singapore’s anaemic economic growth and jobs outlook turning south for the past few months, there has been weakening buying sentiment in both the new sale and resale private homes markets, especially for mass-market private homes,” she said.
Turkey topped the chart as prices of homes gained 18 per cent last year. On a whole, global housing prices rose 3 per cent in 2015, building on a 2.3 per cent growth in the previous year. Asian residential markets only managed a 1.9 per cent average annual price growth.
Check out The Business Times for the full report.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
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