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:-
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
