Singapore’s growth this year was forecast at 1 to 3 per cent, but it is likely to exceed last year’s 2 per cent, said Prime Minister Lee Hsien Loong at this year’s May Day Rally. PM Lee also said that Singapore’s economy is doing better than it did last year, and that he maintained a “cautiously optimistic” outlook. Earlier on 27 April 2018, the Monetary Authority of Singapore (MAS) released its half-yearly macroeconomic review. In its review, MAS said that Singapore’s economic outlook for the year remains positive despite global trade risks. It expects Singapore’s full-year gross domestic product (GDP) growth to come in slightly above the middle of their forecast of 1.5 per cent to 3.5 per cent. These forecasts bode well for Singapore’s real estate market. In the Urban Redevelopment Authority (URA) 1st Quarter 2018 statistics which was released on 27 April 2018, it was found that the private residential property market has continued to strengthen. Prices of landed properties increased by 1.9 per cent while prices of non-landed properties increased by 4.4 per cent. It should be noted that that the residential property price index for both landed and non-landed property has increased for the third consecutive quarter. For more details on URA’s 1Q 2018 statistics and List Sotheby’s International Realty, Singapore’s house view, you may download the Q1 2018 Residential Market Watch prepared by our research team.