Singapore's property market is more active and vibrant compared with its neighbours Malaysia and Indonesia, as a number of foreign investors are attracted to it because of its liquidity.
Similar to Hong Kong, Singapore's housing market is red hot at the moment as the demand is fuelled by a strong economy and foreign-investor confidence, according to property analysts.
Because of the rising demand, buyers are not deterred by hefty prices and they are ready to put down deposits in new construction without asking questions.
They feel the property market will rise further.
According to news reports last month, 200-plus units of a residential project were snapped up by buyers, with prices ranging from S$1.2 million (HK$6.7 million) to S$2 million.
A senior executive at Colliers International was quoted by a newspaper as saying: 'The market is driven by confidence fuelled by the recovering economy and employment market, and supported by low interest rates.'