Adding developer Chip Eng Seng as residential market recovers

(Oct 9): Home prices rose 0.5% in the third quarter of this year, the first rebound in four years, according to flash data released by URA on Oct 2.

The private residential property index rose 0.7 points from 2Q to hit 137.3 points.

OCBC Investment Research says this is “a key inflection point marking the end of the Singapore housing bear” and that home prices hit their cyclical lows in mid-June. The brokerage expects home prices to appreciate 3% to 8% next year, buoyed by a healthier rental market and better macroeconomic conditions.

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