This graph from PropNex study proves that the Singapore Interbank Offered Rate (SIBOR), that can be highly correlated with US interest rates, has begun to average since March and is expected to stay low.
Penrose at Sims Drive neighbourhood is connected to other parts of Singapore by the Pan Island Expressway and the Kallang-Paya Lebar Expressway.
PropNex notes that a dim market would help keep home costs in check along with the very low rate of interest environment has been supportive of home funding.
This comes as the US Federal Reserve said on 10 June it might continue to keep its benchmark rate of interest near zero during 2022.
PropNex notes at this point, there’s absolutely no clarity on the length of the pandemic and before a vaccine is made broadly accessible. However, since COVID-19 concerns ebb with time, buyers must begin to go back to the current market, especially those who are far more confident about job security or have built up significant economies for investment.