Singapore luxury home prices set to recover, Guocoland says

SINGAPORE (July 13): Singapore’s luxury home prices, which have been the worst hit by the government’s property curbs in recent years, are finally showing signs of a recovery, according to developer Guocoland.

High-end home sales in the city-state had been on an upswing even before the government in March eased some of its cooling measures in place since 2009, according to Cheng Hsing Yao, group managing director at Guocoland. The changes in March may have added more fuel to the buying sentiment, he said.

“The change in sentiment wasn’t caused by the tweaking alone,” Cheng said in an interview in Singapore. “The tweaking has contributed but sales for our projects started picking up toward the end of last year.”

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