(Bloomberg) — Singapore home sales surged to an 11-month high in August, buoyed by demand from locals who are betting that prices will rebound as soon as next year.
The number of new units sold rose 16% to 1,256 last month from 1,080 in July, according to Urban Redevelopment Authority data released Tuesday. That’s the most since September last year and up from a near six-year low in April during the height of the lockdown.
Fears of Singapore falling into a prolonged recession are subsiding with home sales growing for the fourth-consecutive month. Singapore forecast its worst recession on record in