The entire property market is on fire right now – so observes Glenn Jin Wong, associate marketing manager at Propnex. Despite the ongoing global battle with Covid-19, rising local unemployment numbers and Singapore’s economy shrinking to a record 5.8 per cent, property punters seem unperturbed.
Prices for the HDB resale market shot up by 5 per cent in 2020 – the steepest growth since 2012’s 6.5 per cent. This is not so surprising since HDB flats are, after all, the bread and butter of housing here. However, prices of non-landed condominiums and apartments grew 2.5 per cent the same year and landed properties, 1.2 per cent.
The Urban Redevelopment Authority (URA) shared that 1,609 private residential units were sold in January this year. On a year-on-year basis, the new home sales that month surged by 159.5 per cent from 620 units in the same month a year earlier during preCovid-19 times.
Of course, this begs the question: Are we really in the midst of a recession induced by Covid-19? Four buyers share their analysis behind their big purchase.
MARSHAL ONG, 27, AND EMELIA LOW, 26, BOUGHT A NEW EXECUTIVE CONDO APARTMENT
They recently tied the knot and decided to go for an executive condominium (EC) apartment instead of an HDB flat for their first home. The couple is counting on its value appreciating when their EC becomes fully privatised after 10 years. They could get even more if their home benefits from future developments around it.
Denne historien er fra July 2021-utgaven av Home & Decor Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 2021-utgaven av Home & Decor Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Building Spaces, Relationships, And Trust
Adrian Heng of Space One ID talks design evolution, his experiences in the industry, and the home that sparked his love for interior design.
Glow By Supernature
A refreshing and immersive retail and dining experience for daily health and wellbeing needs.
On-Trend Options To Consider
Small as it may be when compared to the rest of the home, the bathroom deserves pride of place because it is one place you can truly be on your own. So why not make it look spectacular with these touches.
Cabinet Layout Ideas For An Open-Concept Kitchen
Breaking away from traditional enclosed cabinetry, these cabinet ideas offer a unique and refreshing approach that blends openness with functionality.
From Trash To Treasure
Designer Karyn Lim recounts her experience of creating the So Plast!c collection for the Designers & Crafters Edition 01 showcase co-curated by Industry+ and Sol Luminaire.
COOL VIBE IN MANHATTAN
Rising interior designer Matt McKay shares with KARINE MONIE how he drew inspiration from the 1960s and French design to create this apartment in Manhattan's West Village.
CITY LOFT
This bachelor pad feels like a Manhattan loft with its high ceiling, dark colour palette and a slight industrial edge.
ROOMS FOR GROWTH
Smart lighting, minimalist material palette and clever spatial tweaks come together to create a cosy home with thoughtful considerations for the future. ASIH JENIE takes a tour.
SAPPHIRE WINDOWS HEADQUARTERS AND SHOWROOM
The former factory warehouse is transformed into an elevated, grand and stunning showroom space, along with the Experiential Centre situated on Level Four.
UNWIND IN SOPHISTICATION
In the unending chaos of our fast-paced world, the bathroom assumes its rightful place as a sanctuary for serenity.
