The prices of private housing in Singapore rise 2.7 per cent last year, beating a market estimate of a 2.5 per cent gain. New home sales by developers rose 12.7 per cent to 9,912 units, excluding executive condominiums (ECs). Despite the cooling measures that were introduced in July 2018, the private residential market registered a relatively good year in 2019, with an increase in new sales transactions and overall price growth. It is expected that 2020 will be the same in market trend similar to 2019 if the market fundamentals remain unchanged. Midtown Bay is expected to enjoy healthy take-up rate given that the freehold project is priced attractively.
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