Property developers facing better year ahead in 2021
Add BT as a preferred source
A FEARED slump in the private property market did not quite materialise in 2020; and with the ongoing momentum in the sales of private homes, things may have turned a corner for developers heading into 2021.
Despite the pandemic, the Private Residential Property Index rose 2.2 per cent for 2020 as a whole after notching a quarter-on-quarter gain of 2.1 per cent in Q4 2020, based on the Urban Redevelopment Authority's (URA) latest flash estimate.
This came even as the pandemic sent the economy spiralling into a recession, with gross domestic product (GDP) contracting 5.8 per cent last year, advance estimates from the Ministry of Trade and Industry showed.
TRENDING NOW
Haidilao co-founder’s family buys second bungalow in Cluny Hill for S$85 million
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Prabowo’s biggest crackdown on tycoons shocked his own officials
Apex court rejects resulting trust claim in 99-1 condo dispute
