House prices rose again in the first quarter, as the private domestic market grew 3.3%, the highest in nearly three years, raising hopes that the government will soon intervene to stabilize the market.

Singapore: Are winder Kaur and her husband have spent more than two years looking for their first house in Singapore, hoping that house prices will fall while hunting.

The couple eventually bought their houses in December as prices rose within a quarter, but in the last quarter of the year, even the city-state sent its strongest decline during the COVID-19 epidemic.

“We started to worry because we saw people snatching houses from the left, right, and center”

House prices rose again in the first quarter as the private domestic market grew 3.3%, the highest in nearly three years, raising hopes that the government will soon intervene to stabilize the market.

Low cost of living, confidence in long-term value security, and fear of loss encourage the government to conflict with consumers with a government that has warned consumers about caution.

The Singapore authorities, where buildings are a haven for foreign investors, are paying attention to property prices to ensure that housing remains affordable for locals and meets financial needs.

Launching deliberate orders late last year, Prime Minister Tharman Shanmugaratnam warned again in April that home buyers should be wary of not allowing a higher tax. Instead, some clients try to move forward with intervention and continue to drive up.

“Given that the value of real estate alone seems to continue to grow, and some stamps may soon begin to cool in the market, it’s better to invest in a new home now,” said condom-looking sales engineer Faye Zhou.

State instruments to cool the market include raising the stamp duty rate for foreign buyers and traders with more homes or increasing the share of low-wage earners. It can also increase the supply of land through deliveries.

Household prices have fallen 11.6% since 2013 in the 15th quarter since the government took action to curb real estate market growth as Singapore emerged from the global financial crisis.

The government last added the brakes in 2018 as prices rose to 19% a year, and analysts expect it to rise again as urban economies recover from the scourge of inequality and a slowdown in short-term wage growth.

In addition to stimulating demand, construction consultants Orange Tee say it will help accelerate sales of luxury properties to their highest level from the third quarter of 2017.

Total sales in the first quarter doubled from the previous year and were the highest after two years.

Mortgage financing by DBS Group, Singapore’s largest bank, has grown.

“Part of it is based on people’s perception that you see ways to cool down. So people are trying to get ahead,” CEO Piyush Gupta said in a statement to the bank to callers.

Stock squeezing

In addition, supply will be strengthened in the private and public markets due to delays caused by the construction epidemic.

The number of unfinished homes for builders is down and down 40% in the first quarter compared to two years ago.

Developers may want to acquire land to supplement their lists, regardless of whether government websites or existing homes can be improved. Scientists expect a more competitive country that, like oil, can raise prices.

Singapore’s poorest farmhouse has always attracted the richest people from Asia, with political instability in Hong Kong’s competition helping to grow.

And even if prices fall shortly – when viewed from above, consumers are confident that they will not remain low at all.

“Property prices are rising in Singapore over time … there are few places, but more people are coming to Singapore,” said Sky Chen, a 30-year-old architect who bought his house in November.

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