SUBSCRIBERS

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

Nisha Ramchandani

Published Thu, Oct 1, 2020 · 09:50 PM

URA

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).

She added: "Private home prices are now 2.7 per cent above…