The last ten months have seen rising prices in the sales market. Hamptons International have reported an increase of between 10-15% uplift. In fact, in some cases, they achieved prices beyond the peak of the market in 2007. This is in despite of a lack of properties for sale and the overall stock levels down 27% year on year. This pattern is set to continue during the early part of 2010 with a steady climb until the general election. As always with political elections, the danger of rising interest rates and potential increase in taxation mean that the market will be nervous around this time; however once the election is over it will recuperate quickly.
Singapore will provide more 2-room and 3-room government flats next year. This was announced by Minister for National Development, Mah Bow Tan in Parliament when addressing the rising demand for such units. He said that this would help lower income families to own their own homes, as well as those that needed to downgrade their homes in these troubled times
