Luxury home prices show signs of market recovery

It was battered by government's property curbs last year.

Bloomberg reported that 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.

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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