Singapore home sales rose in November, following demand from locals betting that prices could rebound next year as the economy recovers from the pandemic.

Purchases of new private apartments rose 18% last month to 767, from 645 in October, according to Urban Redevelopment Authority data released on Dec 15.

Singapore’s property market has weathered the city’s worst recession on the back of low interest rates and government stimulus. And buyers are coming back to the market, with the government forecasting the economy will expand 4% to 6% next year due to easing of travel restrictions and local safety rules.

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