Today-Nov 12

Singaporean Jason Chen recently bought a S$1.7 million three-bedroom apartment in a swanky condominium, upgrading his home in the middle of the COVID-19 pandemic which has triggered the country’s worst ever recession. “I know the price will rise”, said the 32-year-old, who has spent nearly a decade working in real estate.Undeterred by the economic slump and rising unemployment, Mr Chen is among thousands of locals snapping up property in Singapore and taking a share of the market not seen in a decade as travel curbs thwart foreign investors. This broad-based buying spree, which has pushed prices and sales to multi-year highs, has some parallels with a housing market boom seen in late 2009 as Singapore emerged from the global financial crisis.

Read more at: https://www.todayonline.com/singapore/singaporeans-snap-properties-during-worst-ever-recession