Singapore residential sales fall 14% due to COVID-19

Singapore-based property consultant EDMUND TIE & Company has reported that private home prices in Singapore fell by 1% quarter-on-quarter (q-o-q) in Q1 2020, according to their URA All Residential Property Price Index.

The Non-Landed Property Price Index (PPI) and the Landed Property Price Index also registered q-o-q declines of 1% and 0.9% in Q1 2020 respectively. The price decline amid the COVID-19 pandemic and economic slowdown has dampened market sentiments and reduced demand for homes as local homebuyers held back their purchase plans to assess their financial positions.

The COVID-19 pandemic has also led to lockdowns in many countries, restricting short-term visitors and potential foreign homebuyers entering Singapore.

As the number of new cases of COVID-19 has grown since March 2020, increased restrictions on mobility in Singapore with social distancing and limits on the number of visitors to residential show flats have reduced purchasing and leasing activities, impacting the private home transactions and prices. (Read more)

- Video Advertisement -

Related Post

Cambodia to Establish Private Business Centers in the UK and India to Attract Investors

Cambodia is set to establish private trade centers in London and New Delhi to promote Cambodian products in international markets and draw foreign investors. This initiative was discussed during a meeting on January 20, 2025, between Lok Chumteav Chamnimol, the Minister of Commerce, Tycoon Lim Bunsour, CEO of AZ Group, and Mr. Jas Sohl, Director […]

China and Cambodia Forge Tech Partnerships for Economic Growth

In a significant step towards technological collaboration, China is eager to connect its thriving internet technology sector with Cambodian enterprises, aiming to enhance knowledge transfer and foster strong partnerships. This initiative was highlighted during a recent meeting between HE Hem Vandy, Cambodia’s Minister of Industry, Science, Technology and Innovation, and Mr. Yu Junfang, President of […]

Cambodia and Germany Forge Alliance for Enhanced Waste Management

In a significant step towards improving urban aesthetics and environmental sustainability, Cambodia and Germany have joined forces to strengthen the nation’s waste management strategy. The Ministry of Environment and the German Agency for International Cooperation (GIZ) have embarked on a collaborative project titled “Green Initiative for Chakra Economy for Sustainable Waste and Solid Waste Management […]

China to Invest in Agriculture and Animal Husbandry in Stung Treng

In a significant development for Stung Treng Province, the Stung Treng Provincial Administration has announced a partnership with Yong An Li Co., Ltd., a Chinese corporation, to launch investment projects focusing on agriculture and animal husbandry. A Memorandum of Understanding (MoU) was signed on January 13, 2025, marking a new chapter in agricultural investment for […]

Temporary Closure of Shipping Lanes for conducting the essential testing of Cambodia-Korea Friendship Bridge Construction

The Ministry of Public Works and Transport (MPWT) has temporarily closed certain shipping lanes on the Tonle Sap and Mekong rivers to conduct essential testing for the Cambodia-Korea Friendship Bridge construction site. This important infrastructure project will connect Phnom Penh with Kandal province. The study is expected to disrupt normal navigation in the affected areas. […]

Progress on National Road No. 10 and Tallest Bridge

As of January 20, 2025, significant advancements have been made on National Road No. 10, now 96% complete, alongside the tallest bridge in the project, which has reached 93% completion. This bridge, measuring 530 meters in height, is scheduled to open for trial use by the end of March 2025. According to HE Phorn Rim, […]