Singapore’s property market is booming. Ask any realtor who uses TikTok or YouTube to post creative house tours and ads. “Singapore’s resilient real estate market is acing the pandemic test,” said the South China Morning Post last September. “Singapore’s Home Sales Remain Resilient Despite Covid Flare-up”, screamed a Bloomberg article headline in October. Financial Times posted this cheery headline in September: “Overseas buyers return to Singapore’s property market”.
The Straits Times reported 20 HDB units sold for more than $1 million in October 2021, with a five-room Design, Build and Sell Scheme (DBSS) flat at Bishan’s Natura Loft topping the charts at $1.26 million. The total value of Good Class Bungalows sales are also heading to a 10-year high, with 68 sales worth $2.05 billion transacted in the first eight months of 2021.
What is it like buying and selling during a pandemic? Here are some of the things we learned from real estate agents and buyers and sellers.