Singapore Real Estate Market Overview
The Singapore property market in the coming years will be challenged by a moderately growing economy, coupled with imbalances in demand and supply across various sectors. These factors will continue to add pressure on occupancy and rents. Demand for new residential properties perked up in 2017, with sales rising by 7% to more than 7,900 units from about 7,400 units in 2015. New housing projects in Singapore such as the Clement Canopy and Grandeur Park Residence witnessed healthy sales on their very first weekend of launch. The outlook of an improving property market of Singapore, affordable loans and relatively more inexpensive small apartments have attracted many investors back to real estate.
Singapore Real Estate property Market Segmentation
By Property Type
- Residential Land
- Apartment
- Hotel
- Industrial
- Office
- Retail
By Ownership Type
- Buy
- Rental
By Investor Type
- Equity / Institutional funds Private
- Unlisted companies
- REITs / Listed companies
- Occupier
- Unknown
- Cross-Border
Based on property type, the residential apartments segment accounted for the largest market share of more than 68% in 2017, but average property prices in SINGAPORE have dropped by 0.8% in the same year. On the other hand, residential apartments are likely to dominate the market in the coming year with more than 8,000 residential building comencements in the country.
Trends, Drivers & Challenges to Market Growth
According to our Singapore property market study on the basis of extensive primary and secondary research, one major trend in the market is the declining number of foreigners in job which has significantly decreased the property rent costs. According to the Manpower Ministry of Singapore, the number of foreign workers fell by an estimated 2,500 in 2016. There were about 1.15 million foreign workers, excluding maids, in Singapore in 2016. The declining foreign workforce in Singapore is significantly resulting in decking prices of residential rentals.
According to the report, a major driver in the Singapore property market is the lower interest rate for home buyers which have a major impact on the growth of the property market of Singapore. Moreover, the overall prices of a home feel slowest in 2016 as compared to 2014 and 2015. The considerable measure by the government such as Total Debt Servicing Ratio (TDSR), has significantly tamed property demand.
Further, the report states that one challenge in the Singapore property market is the affordability of the property. Even after, declining prices of property in Singapore one cannot easily afford the residential property, which is restraining the potential buyers to buy an apartment or house in the country.
Covered in this Singapore property market report
The report covers the present ground scenario and the future growth prospects of the Singapore property market for 2017-2030 along with the total revenue of the real estate sector in every region. We calculated the market size and revenue share on the basis of revenue generated per segment and region on the country level. The revenue forecast is given on the basis of a number of real estate developers and the current growth rate of the market.
Singapore Property Market Outlook 2017-2030, has been prepared based on in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Singapore property market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Singapore property market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.
COVID-19 impact on “Singapore Real-Estate Market”
The report analyzes and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of “Singapore Real-Estate Market” along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
Key Market Players
Our UAE property market report comprises of the following companies as the key players in the India property market:
- City Developments Limited
- EL Development Pte Ltd
- Far East Organization
- Frasers Centrepoint Limited
- GuocoLand (Singapore) Pte Ltd
- Kingsford Development Pte Ltd
- MCC Land (Singapore) Pte Ltd
- Qingjian Realty (South Pacific) Group Pte Ltd
- Sim Lian Group Limited
- Tuan Sing Holdings Limited
- ACT Holdings Pte Ltd
- Allgreen Properties Limited
- Ascendas Pte Ltd
- BBR Holdings (S) Ltd
- Bonvest Holdings Limited
- CapitaLand Limited
- Bukit Sembawang Estates Limited
- United Industrial Corporation Limited.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this market study
- What is the total market size by 2030 and what would be the expected growth rate of the market?
- What is the total market size per segment and region in 2016-17 and what would be the expected market size per segment and region over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry-level players?
- What are the recent developments and business strategies of the key players?
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