In a surprising turn of events, private housing prices have registered a 0.2% quarter-on-quarter decline in 2Q2023, marking the first downturn since 1Q2020. This unforeseen setback has raised concerns amongst experts, calling for a deeper analysis of the factors contributing to this unexpected drop in prices.
In a steady streak, HDB prices have achieved their 13th consecutive quarterly increase, surging by 1.5% in the second quarter of 2023. The latest data highlights the ongoing resilience of Singapore’s public housing market despite external uncertainties, indicating a stable and promising investment avenue for homeowners and potential buyers.
Prices in prime central London continue to rise despite the recent increase in interest rates. This unexpected trend suggests a resilient property market, defying the effect of higher borrowing costs. Experts attribute this to the enduring appeal of the city as a safe haven for investment, particularly for overseas buyers. With limited supply and an insatiable demand, prices are expected to maintain their upward trajectory in the near future, firmly establishing London’s status as a prime real estate market.