The Impact of COVID-19 Pandemic on Singapore's Resilience in Real Estate Market

Abstract

Contemporarily, most of the research into COVID-19-induced mania in the real estate markets leaves public housing in the cold. Singapore with its robust public housing system provides the world with a perspective on another merit of such a system, particularly when a country takes on exact challenges. Deployed the method of qualitative analysis, this pa-per extracts data to dissect Singapore's real estate market consisting of public housing, pri-vate housing, and commercial properties. We analyze common causes behind increased home prices in Singapore (e.g., a new stamp duty regime and the pandemic-induced fi-nancial relief measures) and conclude that the whole of the housing in Singapore will be resilient based on reverting supply and its fundamentals. Besides, the disparate systems in public housing and private housing have created space to shield their residents against shocks. Although it is hardly stopped to channel demand from private housing to public housing, private housing can cushion blows for the public. Additionally, by analyzing pieces of news and financial figures, the paper verifies the saying that "this is a world that is ever-changing." Even if the brick-and-mortar barely falters, the purpose of doing busi-ness is vicissitude. Therefore, the paper expects a transformation in commercial real estate in Singapore.