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Blocks of condominiums in Singapore. The rising cost of borrowing is unlikely to have a major impact on Singapore’s property market, analysts told CNBC.
Ore Huiying | Bloomberg | Getty Images
SINGAPORE — The rising cost of borrowing is unlikely to have a major impact on Singapore’s property market, analysts told CNBC.
That’s because of several factors such as wealthy buyers, strong rental demand and foreigners moving to Singapore.
Singapore’s real estate market is backed by wealth, according to Christine Li, head of Asia-Pacific research at Knight Frank. That means it’s similar to markets such as Shanghai and Beijing, where a lot of people buy properties with a small loan or without…
Source cnbc.com
