Updated: Jun 10, 2021
It's my 2nd time working on the Quarterly Property Market Report with the highly talented PropertyGuru team (Timothy Beers, Dr Tan Tee Khoon and Eugenia Liew) and am deeply honoured to co-author this cornerstone report for the real estate community.
Compiled below are some key insights from our many hours of data mining and research through proprietary data from PropertyGuru's analytics and URA, and published on PropertyGuru.com.sg and with consent, on my blog.
As with reports (And some say me), this is going to be a long 12-min read, so make sure you are ready before scrolling any further.
Hopefully you will find this helpful in making wiser investment choices!
A Short Recap Of An Unforgettable Q2 2020 For Singapore And The Property Market
Q2 started on a pretty dour mood as COVID-19 infection figures grew exponentially on our shores in early April.
The heights of fear and despair among the population were possibly at its peak with the
announcement of a 1-month circuit-breaker period on 3rd April 2020 and subsequently
another month of extension till 1st June 2020.
In many parts of Singapore, it was reported that a collective sigh of the nation was heard
when the extension was announced.
In the first month of circuit-breaker, the majority of residents adjusted to their new way of life and showed extraordinary enthusiasm for documenting their new exercise regime amidst other home-based activities on social media.
The second month passed rather swiftly in contrast, as by then, most people had adapted to the new norms in daily life.
Despite transaction volumes taking a hit, eager property buyers adapted to virtual avenues such as virtual presentations and viewings of show flats and occupant assisted virtual viewings of physical properties to continue in their search.
This unprecedented national lock down also meant that home buyers and investors became extraordinarily careful and mostly sat on the fences, until an expected surge in property sales occurred in June when the majority of the economy resumed with Phase 2 of circuit breaker.