Singapore residential market is set to test a strong supply
of private residential properties as more and more ongoing projects will go on-stream
by the year ending 2020 and the housing supply is expected to touch 50,000
units.
Approximately 4.0 million sq ft of net Lettable retail space
from major malls within Singapore is scheduled for completion between 2016 and
2020 therefore, averaging 808,000 sq ft of new major retail space per year.
The Singapore Tourism Board (STB) launched BOOST (Building On
Opportunities to Strengthen Tourism) i.e. a USD 90.0 million initiative which
is aimed at increasing the tourist influx within Singapore.
Business Travel, Meetings, Incentive Travel, Conventions and
Exhibitions (BTMCE) are some of the major sources of revenue for the country’s
hotel industry.
Analysts
at Ken Research in their latest
publication “Singapore Real Estate Market Outlook to 2023 – By
Residential Real Estate Market (New Sales, Re-Sales and Sub-Sales), By Retail Real
Estate Market (Private and Public Retail Space), By Office Real Estate Market
(Private and Public Office Space) and By Hotel Real Estate Market (Gazetted and
Non-Gazetted Hotels)”
believe that introducing green and sustainable buildings,
increasing co-working operators, establishing tie-ups between real estate
agents and real estate companies, focusing towards affordable housing, REITS
and developing innovative browser experience will collectively drive the
Singapore real estate market demand in the near future along with a CAGR of 3.6%
towards residential space; 1.0% towards retail space; 4.3% towards office space
and 3.3% towards hotel real estate during the forecast period of 2019-2023.
Residential segment will continue to
see moderate increase in prices as the sector faces continuous low demand side
pressure. Prime
properties at preferred locations are still expected to be the hotspot
locations with high asking price. A greater migration to the central Singapore,
growing population and swelling middle class are creating a desperate need for
urban real estate including residential housing. Real estate as an asset class
is changing at a very rapid pace along with the emergence of mega real estate
managers which are building and investing in real estate on a large scale,
especially in the case of housing where HDB plays a vital role in terms of
investment. The real estate landscape within Singapore is becoming more
widespread and complex, with a wider range of risk and return over long term. Along
with a number of highly-anticipated projects such as Gem Residences (located in
the RCR) and Stars of Kovan (in OCR) lined up for launch, new sales transaction
activity is expected to swing towards the mid-tier and mass-market segments.
An influx of new retail spaces in the near future is further
anticipated to compound on the downward trend of retail rents as the pipeline
is already accounted by tenant pre-commitments. On the other hand, demand for
suburban retail spaces is further expected to remain constant as shopping malls
in Singapore remain supported by the increasing resident population.
Additionally, F&B component is increasing with new options including the Hototogisu
Ramen, Mavrx Coffee Bar and Tim Ho Wan. Despite the lower rents for anchor
tenants, some malls include more than one supermarket as these shops provide
convenience and necessity, which E-commerce often lacks, hence creating a
compelling reason to visit the mall. The trend is expected to drive retail
sales in the near future.
Co-working spaces and large technology
firms in Singapore are further set to drive office demand in the near future. Singapore is emerging as a technology
hub as most of technology firms are choosing the lion’s city to gain first
mover advantage. Small as well as medium size start-ups are moving to Singapore
for the ease of business and attracting talent in the country.
Singapore hotel real estate space
overall has clear skies but major headwinds in near sight are slowing Singapore
economy and shift towards serviced apartments and Airbnb. Apart from that, BTMICE spending
rose by 10% in 2018 and is poised for sustainable growth in future considering
Singapore’s growing presence as a business Hub.
Key Segments Covered:-
Singapore Residential Real Estate Market
By Type of Dwelling
HDB
Dwellings
Condoniums
and Other Apartments
Landed
Properties
Other
Types of Dwellings
By Type of Sale
New Sale
Re-Sale
Sub-Sale
Singapore Retail Real Estate Market
By
Private and Public Retail Space
Singapore Office Real Estate Market
By
Private and Public Office Space
Singapore Hotel Real Estate Market
By
Gazetted and Non-Gazetted Hotels
Key Target Audience:-
Real
Estate Developers
Independent
Investors
Real
Estate Consulting Companies
Third
Party Real Estate Companies
Independent
Architects
Government
Associations
Government
Agencies
Time Period Captured in the Report:-
Historical Period -
2013-2018
Forecast Period -
2019-2023
Major Companies
Covered:-
CapitaLand
Frasers
Property Ltd
UOL Group
City
Developments
APAC
Realty
Chip Eng
Sen
Roxy-Pacific
Holdings
Other
Players (Frasers Property Ltd. and City Development Ltd.)
Keywords:-
Singapore Real Estate Market
Singapore Real Estate Market Analysis
Singapore Real Estate Industry
Real
Estate Industry In Singapore
Singapore
Real Estate Market Revenue
Singapore
Residential Real Estate Market
Singapore
Retail Real Estate Market
Singapore
Office Real Estate Market
Singapore
Property Price Market
New Sales
Singapore Residential Market
Cooling
Measures Singapore Real Estate Market
Urban
Redevelopment Authority Singapore
En-Bloc
Sales Market Singapore
Upcoming
Retail Projects Singapore
Types Of
Office Spaces Singapore
Major
Co-Working Operators Singapore
Co-Working
Spaces Rents Singapore
APAC
Realty Real Estate Singapore
Frasers
Property Real Estate Market Singapore
For more information on the research report, refer to below
link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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