While the all other sectors are incurring losses, the housing market seems to be having no troubles during the economic downturn. Resale prices of the Housing Board homes have continued to rise and are now at an all time record high. After rising another 3.6% recently, the prices have now broken all previous records.

Chesterton Suntec International's research and consultancy director Colin Tan stated that the surging prices could be because people are now looking to buy a home soon before the prices rise more. "The problem is, many buyers put off their purchases during the height of the recession. As resale prices start to run up, panic sets in and buyers, including PRs, start to buy at all costs, which adds further to the demand", he said.

Despite the rising prices, the sales continue to remain low. This is being seen by analysts as something that will go away in the times to come. Meanwhile, the high resale prices and the constant rise are being taken by all as a positive sign.