The housing market is expected to grow its unit sales by 6.3% with an added value of 4.8%, with the condominium market expected to grow to 16.5%. This is a modest increase considering that travel restrictions still abound.6% contraction this year and 3.2% growth. Some of these factors include a recovery from the economic recession, continuous development of property infrastructure projects, and a proper adjustment between demand and supply, eventually. Overall, the property sector of society is expected to improve, considering all the factors involved that may not be in anyone’s control just yet. Superior aspects, according to analysts, are developers who will be developing mid to high-end, low-rise, properties with a lot of condominium backlogs for 2021. Low-end levels may still have to resort to significant price-cutting this year, to cater to their market. Other experts also believe that supply and prices will hold on this year, considering favorable government initiatives in the property market; 2020 is expected to show a positive recovery, post-lockdown.

Are you looking for a modern bachelor’s pad, a holiday respite, or a spacious family home with a backyard? These are questions you have to ask yourself first, to help tighten and refine your search. Are you planning to put up your own beach resort in the future, or are you just searching for a luxury retirement pad for yourself? You may also need to determine if you are searching for someplace quiet, tucked away, or in the middle of the city bustle. Your personality matters, too! With its coastline beaches and scenic views, this island is regarded as a favorite holiday destination for many. With prices seen to be going up dramatically in recent years, it has garnered a steady 5 to 10% year on year increase since 2016. The island has transformed into a popular choice for the affluent, gaining more reputation with luxury property developers as first-class restaurants and hotels started to sprout about. Although tourism continues to be greatly impacted by the pandemic, the property market remains attractive as a long-term investment.

The real estate market’s supply index has shown to increase by 23% (up 385 points) in the latter half of 2020, which is only expected to grow even more coming into 2021. This is due to the excess supply of multiple properties on sale from the previous year. This, however, is good news for those wishing to buy properties and structures in 2021 – supply is abundant, but demand is not as rampant as the years pre-pandemic. So many units are in need to be sold, but luckily, housing prices are still on the reduction scale. Thus, this has pushed real estate developers and sellers to offer their housing and condominium units at a still favorable price, with sizable discounts. 2021 is the year to purchase properties you’ve always had your eyes on, as purchasing them at this pandemic-friendly rate will still garner a higher value in time, for years on end. It’s also the best time to scout for land investments, commercial properties, and foreign freehold condominiums.

Although 2020 was undeniably a very difficult year for everyone, it also brought some great opportunities in the real estate market. Citizens, in fear of the contagious virus, had no choice but to close shop suddenly and swiftly when the pandemic first hit in early 2020. At the same time, there are now some great property discounts available because of the coronavirus pandemic. On a global scale, the coronavirus pandemic has severely impacted (and continues to impact) various industries, such as the healthcare, education, food, and fitness industry, among many others. Nobody was prepared, and nobody was sure when things would let up. Truly, 2020 was a bleak year, and nobody was spared. The healthcare industry was inundated with critically ill patients and a depleting workforce, while the food and service industry saw losses more than gains, with staff to pay but no customers to feed. This includes the real estate and housing industry – one of the many sectors of society that were gravely affected by the coronavirus pandemic.