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Supply constraints are driving up property prices and rents in Singapore, the chief executive officer of a real estate company said Friday.
“You can see a massive gap opening up between demand and supply,” said Hari Krishnan of PropertyGuru.
Singapore introduced measures to cool the property market in December 2021, but analysts told CNBC in February that they expected prices to continue to rise, though at a slower rate.
Prices of private residential properties increased by 0.7% in the first three months of 2022, compared with the 5% increase in the last quarter of 2021, according to the Urban Redevelopment Authority.
The resale price index for public housing flats increased 2.4% in the…
Source cnbc.com
