Investments

This August, the prices for Housing Board resale flats rose again, with over 30 flats sold for at least S$1 million.

PM Lee announced Singapore’s plan to push for key infrastructure projects in his NDR speech. The projects are set to further improve Singapore’s status as a business, trading, and lifestyle destination.

As banks increase their fixed rate home loans from 2.75% per annum to 3.08% per annum, residential sales are expected to decrease.

In the second quarter of 2022, private residential prices already rose by 3.5%. According to property experts, this will increase more up to 6% to 8%.

MAS recorded a huge loss in the last financial year due to the rising Singapore dollar, lower investment gains, and higher interest expenses. However, Singapore is still on track to come within the GDP growth forecast for this year.

Condo resale prices in Singapore continue to increase. Meanwhile, the volume of sales dropped to 17.2%.