Real Estate Market Size in Singapore is set to grow by USD 50.74 billion from 2024-2028, Growing demand for industrial infrastructure in Singapore boost the market, Technavio

NEW YORK, May 30, 2024 /PRNewswire/ -- The real estate market size in Singapore is estimated to grow by USD 50.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.45%  during the forecast period. 

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Segment Overview 

1. Area 
• 1.1 Residential
• 1.2 Commercial
• 1.3 Industrial
2. Mode Of Booking
• 2.1 Sales
• 2.2 Rental
• 2.3 lease
3. Type 
• 3.1 Landed houses and villas
• 3.2 Office space
• 3.3 Apartments and condominiums
• 3.4 Store space
• 3.5 Others
4. Geography 
• 4.1 APAC

1.1 Residential-  The residential real estate market in Singapore experiences continuous growth due to increasing demand for apartments and condominiums. Singapore's robust economy, high employment rates, and income levels attract local and foreign investors. Residential properties serve as attractive investment assets due to potential capital appreciation and rental income.

Favorable tax policies, low-interest rates, and a transparent legal framework further support market growth. Urbanization and population growth also contribute to the expanding residential segment. Overall, the residential real estate market in Singapore is expected to thrive and contribute significantly to the industry's growth during the forecast period.

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Market Driver

Real estate vendors in Singapore employ an integrated marketing communication strategy, utilizing channels like newspapers, magazines, and social media. They create TV ad campaigns, followed by internet pre-roll, social media, blogging, and interactive websites. Visual content on social media drives customer engagement and brand development. Technology advances bring virtual tours and 3D visualization tools, enabling remote property exploration. Targeted advertising strategies reach specific demographics, fueling the real estate market's growth in Singapore. 

The real estate market in Singapore continues to be vibrant and dynamic. In recent times, the residential property sector has shown strong growth, with popular locations like Districts 9, 10, and 11 witnessing high demand. The commercial sector also remains robust, with offices in the Central Business District (CBD) and Marina Bay Financial Centre being particularly sought-after.

The land market is active, with the Government launching several sites for sale. The use of technology, such as virtual tours and digital transactions, has become increasingly common. The rental market is stable, with rents for both residential and commercial properties remaining relatively unchanged. Overall, the real estate market in Singapore remains an attractive investment destination. 

Market Challenges

• The real estate market in Singapore faces regulatory challenges, including property cooling measures and strict land use regulations. These regulations add costs, time, and uncertainty for developers and may deter investors, leading to reduced transaction volumes and slower market growth.
• Despite efforts to provide affordable housing, government policies impose restrictions on property ownership and rental income, further limiting market liquidity. Overall, regulatory uncertainty negatively impacts the growth of the real estate market in Singapore.
• The real estate market in Singapore presents several challenges for investors and developers. One key challenge is the high cost of land, driven by intense competition and limited supply. Another challenge is the stringent government regulations, which aim to maintain a balanced property market but can impact profitability. Additionally, the economic uncertainty caused by global events can affect demand and pricing.
•  Furthermore, the ongoing trend of remote work may impact the demand for certain property types, such as commercial offices. Lastly, the aging infrastructure of some buildings may require significant investment for upkeep and renovation. Overall, navigating these challenges requires a deep understanding of the local market and a strategic approach to investment and development.

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Research Analysis

In the vibrant real estate market of Lion City, the breathtaking skyline is a testament to its status as a global financial hub. Eco-friendly features and green spaces are increasingly prioritized in mixed-use developments, reflecting a commitment to sustainability. Smart infrastructure, energy-efficient designs, and PropTech (Property Technology) are shaping the industry, addressing limited land availability and economic uncertainties.

The residential market experiences steady growth, with government policies supporting affordable housing projects. The office sector, co-working spaces, retail sector, hospitality sector, e-commerce, and smart homes continue to thrive, driving demand for property. The economic health of Singapore is closely linked to the real estate industry, with private condominiums, office spaces, and warehouse supply remaining in high demand.

Market Research Overview

The real estate market in Singapore is known for its vibrant and dynamic nature, with a diverse range of properties available. Properties in Singapore include condominiums, landed houses, and HDB flats. The market is influenced by various factors such as government policies, economic conditions, and demographic trends. The use of technology has transformed the real estate industry, with online platforms and virtual tours becoming increasingly popular.

The location of a property is a significant factor in its value, with prime areas such as Orchard Road, Marina Bay, and Sentosa Cove commanding higher prices. The market also offers various financing options for homebuyers, including housing loans and grants. Overall, the real estate market in Singapore offers a wealth of opportunities for both local and foreign investors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• 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

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio