The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC.
Ore Huiying | Bloomberg | Getty ImagesSINGAPORE — The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC.
Singapore's real estate market is backed by wealth, according to Christine Li, head of Asia-Pacific research at Knight Frank.
Demand driversHowever, it doesn't mean the residential property market ignores rising rates and looming risks, said Alan Cheong, executive director of research and consultancy at Savills.
"However, past trends indicate that our property market is highly resilient and usually rebounds within six months of a cooling measure," she said.