SG vs US vs UK: Whose real estate market is performing better? 

A report from RealVantage said Singapore is showing no signs of easing.

Singapore’s residential and office markets may have been doing better compared to the United States and the United Kingdom, according to property fintech firm, RealVantage.

Unlike the latter countries whose markets are likely to cool, RealVantage said Singapore is showing no signs of easing.

“Despite the cooling measures implemented in Q4 2021 to cool the Singapore property market, the strong demand for residential properties and the lack of supply have resulted in home sales rebounding in March 2022, after being subdued for the first two months of the year,” RealVantage said.

“Additionally, the continued easing of COVID-19 restrictions has seen a recovery in the office market, as companies prepare for employees returning to the office and the expected increase in business activities,” the firm added.

Singapore’s office market also saw the fastest pace of growth for its Premium and Grade A office rents since Q321, marking a 1.5% QoQ increase to $10.26psf in Q122.

Meanwhile, RealVantage said it has also yet to see whether Singapore's real estate market has been affected by the rising interest rates which have already resulted in the cooling of residential markets overseas like the US.

“With inflation pushing up housing prices and higher mortgage rates in the US, further reductions in transactions in the US housing market are likely,” the firm said.

“In the UK, despite the record high housing prices, the higher interest rates and the increased cost of living will likely reduce affordability and lower housing prices over the coming year,” RealVantage added. 

U.K. house prices have already hit a record average of GBP282,753 in March and the typical contracted rate for a 30-year fixed-rate mortgage has risen from 3.3% at the start of the year to 5.2%.