Singapore Real Estate Market Research Report And Market Forecast: Ken Research

Singapore Real Estate Market Sizing Approach and Market Limitations

Market Sizing Approach

Initially, we have compiled a list of prominent companies in real estate industry in Singapore and have approached the management of these companies including business development manager, sales and marketing head, procurement managers and others to understand the revenues, their growth, distribution networks, profit margins, concentration by geography and industry verticals.

Data and Information is available on reports from, UBS, Coliers, Knight and Frank and websites of statistical department and ministries. The data is collated, sanity check of the information is done by confirming it with various industry experts and seeks justification for such numbers. Reference was taken form the annual report, company websites (country based) and press release to gain some insights about company performance.

Our team then collated the data shared by the industry experts belonging to these companies and extrapolated on the basis of the market share, pricing and rental and buildings constructed and also re-checked it with the data available in secondary sources and proprietary databases.

We have conducted multiple CATIs with industry experts and management of various real estate related companies in Singapore to understand their business models, major applications, revenue stream, product portfolio and other market parameters. This helped us in estimating revenue generated in the Singapore real estate market.

Market Limitations

There might be a case that the chief executives / representatives / dealers might be bullish with the numbers. We have cross checked and revalidated the data, collected with our hypothesis and question them on the numbers. But in the end, justification provided by a primary might / might not be satisfactory on the numbers as there is no right mechanism to revalidate their numbers. Henceforth in this scenario, the team has applied a discounting factor to the numbers decided through interviews conducted from other industry representatives since it appeared bullish to our logical thought process.

The market size, segmentation and market share have been computed by taking the maximum retail price, the discounts and other deductions by builders, brokers and others are not considered in this study.

Since the competition between builders in the industry is high, key management executives of builders and brokers have not divulged margins of different revenue streams. Several key decision makers from these companies were contacted but they were unwilling to provide such confidential details.

Future growth model has been built on the basis of future developments and opinions received from key industry veterans of the market followed by subjective analysis with margin of error not more than 10%.

Singapore Real Estate Market Overview and Genesis

Economic Overview

Residential building value grew at a CAGR of ~% and non residential building at ~% during the period FY’2013-FY’2018. The GDP of Singapore, in real terms, grew at ~% as on January 2019.

Wages (excluding bonuses) in the country grew at CAGR of ~% during the period FY’2013-FY’2018.

Bank lending rates have declined at a CAGR of ~% during the period FY’2012-FY’2017. On the other hand, current lending rate is ~% in the year 2017.

Recent Developments in the Industry

There is a growing trend amongst developers to move towards integrated or mixed development. As a result residential and commercial spaces form part of the same space. It is also leading to better utilization of land in a few land scarce areas where demand for commercial and residential spaces is equally high.

Singapore Residential Real Estate Market New sales, 2016-2018

Despite the cooling measures and uncertain external environment, prices for private residential properties continued to increase during 2018. The sales of condominium property halved from SGD ~ billion in 2016 to SGD ~billion in the year 2018 whereas on the other hand apartment sales more than doubled from SGD ~ billion in 2016 to SGD ~billion in 2018. By leasing type, majority of the new property sales in Singapore had a ~years lease generating a revenue of over SGD ~ billion in 2018.

Singapore Residential Real Estate Market Sub-Sales, 2016-2018

Sub-sales within Singapore residential real estate market was witnessed to decrease year on year during the review period 2016-2018. The introduction of Seller’s Stamp Duty (SSD) and two rounds of Additional Buyer’s Stamp Duty ABSD) effectively increased a short-term speculator’s transaction costs by as much as ~% which has led to continuous decrease in sub-sale volumes for years now.

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.)

Key Topics Covered in this report:-

Singapore Real Estate Market

Real Estate Industry In Singapore

Singapore Real Estate Market Growth

Singapore Real Estate Industry

Singapore Residential Real Estate Market

Singapore Retail Real Estate Market

Singapore Office Real Estate Market

Residential Supply Singapore

Singapore Property Price Market

En-Bloc Sales Market Singapore

Retail Real Estate Rents Singapore

Upcoming Retail Projects Singapore

Types Of Office Spaces Singapore

Singapore Capitaland Real Estate Market

For more information on the research report, refer to below link:-

Singapore Real Estate Market

Related Reports:-

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Qatar Real Estate Market Outlook 2021 - Economic Diversification and FIFA World Cup 2022 to Support Infrastructure Development

Middle East Real Estate Market Outlook to 2019 - Demand for Destination Retail and Affordable Housing to Shape Future

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Ken Research
Ankur Gupta, Head Marketing & Communications
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