Private home prices may end 2020 in positive territory despite economic malaise: analysts
Prices rose 0.8 per cent in Q3, up from 0.3 per cent in Q2; market sentiment may continue to improve as more sectors of economy reopen
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Nisha Ramchandani
Singapore
PRIVATE residential property prices for 2020 as a whole may end in positive territory, some analysts say, after prices rose 0.8 per cent quarter-on-quarter (q-o-q) in Q3, nudging the overall price index up 0.1 per cent year-to-date.
As the economic recession puts job security and household income under pressure, Colliers International had previously expected private home prices to decline 5 per cent this year. "However, with the resilience of the market and price index up 0.1 per cent year-to-date, we now expect prices could be flat in 2020," said Tricia Song, Colliers' head of research (Singapore).
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