bidding wars, cash offers drive up home prices

 bidding wars, cash offers drive up home prices

Singapore has hinted that unvaccinated travelers may be subject to longer quarantine periods and additional testing.

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SINGAPORE — Housing prices have shot up across cities in Asia-Pacific this year, fueled by record low interest rates amid the pandemic.

Optimism has also gained steam as vaccination rates gain pace, and some countries move toward a post-Covid recovery.

As companies move to a hybrid work model — a mix of working from home sometimes, and in the office at other times — demand for larger homes has also picked up, analysts say.

The overheating in property markets across some Asian cities has led to wide expectations that governments will intervene through housing curbs or other measures such as fiscal or monetary policy.

South Korea, for instance, hiked interest rates for the first time in three years in August – analysts attributed the move to rising home prices and increasing debt.

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