New worldwide index positioned Singapore at 123 out of 150 countries
Residential real estate prices have steadily risen in Singapore for 2020 as compared to 2019. However the nation state still ranks low in the Knight Frank Global Residential Cities Index.
According to Knight Frank’s Research, Singapore registered only a 0.7% price uptick for residential property in Q3 2020 as compared to the same time frame in 2019. In the mean time, Manila, the capital of Philippines, captured the top spot with 34.9% YoY price growth.
The index ranked the yearly growth rate for 150 cities at an average of 4.7% in Q3 2020, as compared to the 4.1% in the earlier quarter. According to Knight Frank Research, Q4 2020 data may experience more regional variations coming to light, with Europe moderating price growth because of the recent lockdowns, before a further explosion of pent up demand in Q1 next year, whilst prices and sales in some regions of Asia may begin to gain traction, like Dairy Farm Residences.
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