Economics
Singapore Housing Curbs Won't Cool Prices, Morgan Stanley Says
- Prices may rise 10% by end-2019, double by 2030, analysts say
- Faster ecomomic growth, supply shortage to underpin prices
Houses and residential buildings stand in the Simei area of Singapore.
Photographer: Sanjit Das/BloombergThis article is for subscribers only.
Singapore home prices may rise as much as 10 percent 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 will underpin the housing market, they said.