The PropertyGuru Singapore Property Market Index Report Q3 2020 examines what played out in the sector during an unprecedented second quarter of the year, identifying key trends that are unfolding as we enter the third quarter, marked by the opening up of the economy and a well-managed health crisis.
Due to the stringent circuit breaker measures that put a pause on most of Singapore’s economy, the quarter was off to a slow start. However, when showflats reopened in June, there was a market rebound likely caused by pent up demand. According to the PropertyGuru Property Market Index Q3 2020, the quarter eventually closed with a slight gain, registering a 2.15% increase to 111.9 points.
There was a relatively higher proportion of new launch condominiums sold in the quarter, as many expect the economy to recover by 2022 to 2023, when most of these projects are slated for completion.
The PropertyGuru Property Market Index Q3 2020 report examines the observed trends in greater detail and distils key insights and likely better performing regions in the second half of 2020.