Singapore is placed 48th in the world for house price growth as the city-state saw home prices inch up by only 0.4% year-on-year during the second quarter of 2020, revealed Knight Frank’s Global House Price Index Q2 2020 report. Private residential prices in Singapore fell by 0.6% from Q4 2019 to Q2 2020, before it increased by 0.4% in Q2 2020 from the first quarter of 2020. The report tracks the movement in mainstream residential prices across more than 50 countries and territories worldwide using official statistics. European countries snagged eight of the top 10 rankings, with Turkey taking the top spot as house prices there rose 25.7% year-on-year in Q2 2020 and 11.2% in last three months (Q1 2020 to Q2 2020). The report showed that New Zealand, South Korea and Germany – three countries that were initially thought to have dealt with the COVID-19 pandemic most effectively posted mixed results. The trends indicate that the impact of the COVID-19 pandemic on global housing markets is “likely to be inconsistent and irregular”, it said.... Continue Reading