More than 2,400 new private homes were sold last month, according to preliminary data from the Urban Redevelopment Authority, putting sales on pace for their best month in more than a decade.
Singapore authorities may need to add more “aggressive” real estate curbs down the road if they fail to tackle a homebuying frenzy by early next year, Barclays warned.
A recent resurgence in the private market driven by a blockbuster November has “raised the likelihood of a revival in property prices”, and a repeat of 2017-2019 when buyers shrugged off cooling measures, analysts Brian Tan and Audrey Ong wrote in a note Monday. “A lack of response may well be interpreted as confirmation that policymakers are only half-heartedly trying to contain property prices.”
