New private homes in Singapore seen as a safe-haven asset amid outbreak, looming recession

The Singapore private property market posted a strong performance in February 2020 despite Covid 19 fears. A total of 1314 units including Executive Condominiums were sold, more than double the sales in January 2020, and almost 3 times the number from February 2019. Major contributors to the sales were The M and Parc Canberra, which sold 380 and 324 units respectively. Quantitative easing measures aimed at injecting liquidity taken by the US Federal Reserve may lead to higher asset prices amid low borrowing costs going forward. As stock markets remain volatile, investors may turn to property investments such as Penrose to seek stability in their portfolios.

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