Virtual tours and opportunities: The Singapore property market during COVID-19

SINGAPORE:  Singapore is now in the first phase of the post-circuit breaker period. Some sectors of the economy have reopened, but it isn’t quite business as usual in the property sector.

Developers’ show galleries remain closed, and property agents are still unable to conduct face-to-face meetings or viewings with prospective buyers.

Amid these challenging operating conditions, new private home sales fell 12 per cent in the first quarter. In the same period, prices fell 1 per cent.

Most market watchers expect prices to continue this downward trend.

Ms Christine Sun, head of research and consultancy at OrangeTee & Tie, said that she expects private home prices to decline between 3 and 5 per cent, although certain segments of the property market will do better than others.

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