SINGAPORE: Singapore home prices may rise as much as 10% by the end of next year and are on track to double by 2030 as faster income growth overpowers recent property curbs and higher interest rates, according to Morgan Stanley.
Home prices rose in four of the five previous rate hike cycles, Morgan Stanley analysts said in a note to clients. Faster economic growth, the city-state’s attraction as a global hub and demand from buyers flush with cash from en-bloc redevelopments would underpin the housing market, they said.
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