Real Estate Market In Singapore - 100% of Growth to Originate from APAC, Technavio

NEW YORK, March 27, 2024 /PRNewswire/ -- The global real estate market in Singapore size is estimated to grow by USD 50.74 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 4.45% during the forecast period. APAC held the largest share of the global market in 2023, and the market in the region is estimated to witness an incremental growth of 100%. 

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APAC is expected to play a pivotal role in propelling the global real estate market in Singapore.

Market Drivers

The Real Estate Market in Singapore experiences continuous growth due to the increasing demand for industrial infrastructure. This trend encourages investors to diversify their portfolios with landed properties and executive condominiums. Singapore's business-friendly environment, with political stability, strong governance, and innovative policies, attracts multinational corporations and local businesses. Co-working spaces and flexible office arrangements cater to startups and tech firms, while smart office solutions and retail sectors thrive in the city's prime areas like Marina Centre, City Hall, and Bugis regions. E-commerce, technological advancements, and the hospitality sector also contribute to the market's expansion. Economic uncertainties, geopolitical factors, and global events influence investment decisions. Sustainable development practices, green building initiatives, and community well-being are essential considerations. Affordable housing projects, such as those by Sinarmas Land, address the housing needs of Singaporean investors. Outbound investment sales in the office sector and large technology firms' interest in co-working spaces drive commercial real estate growth. Industrial real estate, including warehouse supply at Logos EHub, remains in high demand. The residential segment, including the HDB resale market and private residential projects, is influenced by the Rental Price Index. The retail sector, with prime retail rentals, and the retail sector's adaptation to e-commerce, round out the dynamic real estate landscape.

Market Overview

The Real Estate market in Singapore continues to thrive, with properties in prime locations remaining in high demand. The market is characterized by a diverse range of offerings, from landed properties to condominiums and executive apartments. The government's active role in implementing housing policies, such as the Additional Buyer's Stamp Duty and the Seller's Stamp Duty, aims to maintain a stable and sustainable market. Additionally, the implementation of the Temporary Occupation Permit system for new developments ensures that properties are completed and handed over to buyers in a timely manner. The use of technology, such as virtual property viewings and electronic transactions, has also streamlined the buying process. Despite challenges like increasing property prices and the ongoing pandemic, the market remains resilient, with strong investor interest and a robust economy fueling its growth.

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Key Company

Real Estate Market in Singapore is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Real Estate Market in Singapore report includes information on the product launches, sustainability, and prospects of leading vendors including C and H Properties Pte Ltd., CapitaLand Ltd., CBRE Group Inc., Century 21 Real Estate LLC, City Developments Ltd, EL Development Pte Ltd, ERA Franchise Systems LLC, Far East Organization, Frasers Property Ltd., Genting Singapore Ltd., GLP Pte Ltd., GuocoLand Ltd., Huttons International Pte Ltd., OrangeTee and Tie Pte Ltd., Pinnacle Estate Agency Pte. Ltd., PropNex Ltd., Propseller Pte. Ltd., SNREALESTATE SG, The Edge Property Pte Ltd, UOL Group Ltd..

Market Segmentation

This Real Estate Market in Singapore report extensively covers market segmentation by Area (Residential, Commercial, Industrial) Mode Of Booking (Sales, Rental, lease) Type (Landed houses and villas, Office space, Apartments and condominiums, Store space, Others) Geography (APAC)

Market Segmentation by Area

The Residential Segment in Singapore's real estate market experiences continuous growth, driven by the increasing demand for apartments and condominiums. Singapore's robust economy, with high employment and income levels, attracts both local and foreign buyers. Landed properties and executive condominiums are popular choices, while multinational corporations and local businesses fuel demand for office space. Co-working spaces and flexible office arrangements, along with smart office solutions, cater to the needs of large technology firms. The retail sector, hospitality sector, e-commerce, and technological advancements contribute to the demand for commercial real estate. Sustainable development practices, green building initiatives, and community well-being are key considerations. Economic uncertainties, geopolitical factors, and global events impact the market. Affordable housing projects, such as those by Sinarmas Land, address the need for accessible housing. Outbound investment sales in the office sector and industrial real estate, including warehouse supply at Logos EHub, remain strong. The HDB resale market and Rental Price Index reflect trends in the private residential projects market. Prime retail rentals in Central Area, Marina Centre, and Bugis regions remain high. PropTech, including smart homes, IoT devices, and blockchain-based property transactions, shape the future of the industry.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio