This year, rising mortgage rates should further temper property price inflation but there will still be upward price pressure as household income is expected to continue to grow faster than home prices, which will improve affordability, says Fitch, the global credit ratings and research agency.
SINGAPORE (Jan 16): Singapore home prices are expected to show moderate growth of 2% in 2019 and 3% in 2020, according to Fitch Ratings in its 2019 Global Housing and Mortgage Outlook report.
Last July, Singapore raised the additional buyer’s stamp duty on purchases other than first homes for Singapore residents by an additional 5-10ppt and tightened various LTV limits each by 5ppt, including to 75% for first homes and 45% for second homes. These moves were aimed at cooling the property market as home price growth had begun to accelerate again.
