Despite Singapore’s GDP shrank and economy set into pressure as a result of covid-19 in 2020, real estate sector remains promising with private home prices rose 2.2% and new home sales achieved a total of 9,982 units as compared to ,9912 units in 2019. As more companies adopted working from home, e-commerce business continue to thrive as more people are shopping via online portals and online ordering of meals. More demand for warehouses and offices rent fell less than expected. Pent-up demand will continue in 2021 as there is low supply of homes in the pipelines since there is lesser land parcel released for sale. Singapore will remain as sweet spot for investors to put their monies in as we have managed the entire covid-19 well and our economy is politically stable. One Draycott is the latest new launch in Orchard Road and walking distance to future Great World MRT station (Thomson-East Coast Line) and with the rejuvenation of the Great World City and the vicinity, we will be able to see great interest from property investors.
Source: The Business Times
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