Commercial Real Estate - Singapore

  • Singapore
  • The projected value of the Commercial Real Estate market market in Singapore is expected to reach US$0.50tn in 2024.
  • This indicates a significant growth potential in the market segment within the country.
  • It is anticipated that the market will continue to expand at an annual growth rate (CAGR 2024-2029) of 0.40%, resulting in a market volume of US$0.51tn by 2029.
  • In terms of global comparison, it is noteworthy that the United States is expected to generate the highest value in the Real Estate market.
  • In 2024, the value is projected to be US$25,280.0bn the United States.
  • This demonstrates the dominance of the US in the global Real Estate sector.
  • Singapore's commercial real estate market is experiencing a surge in demand due to the country's strong economic growth and favorable business environment.

Key regions: Europe, France, Japan, Brazil, Asia

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Commercial Real Estate market in Singapore has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences:
Singapore has emerged as a key business hub in Asia, attracting multinational companies and investors from around the world. As a result, there is a growing demand for commercial real estate, particularly office spaces, to accommodate the expanding business activities. Customer preferences in Singapore's commercial real estate market are driven by factors such as location, infrastructure, amenities, and accessibility to transportation hubs.

Trends in the market:
One of the key trends in the commercial real estate market in Singapore is the increasing demand for flexible workspaces. With the rise of startups and freelancers, there is a growing need for shared office spaces and co-working environments. This trend is further fueled by the changing work culture, where companies and individuals seek more flexibility and cost-efficiency in their office setups. Another trend in the market is the development of mixed-use properties. Developers are increasingly integrating residential, commercial, and retail spaces into a single development, creating vibrant and self-sustained communities. This trend is driven by the desire for convenience and accessibility, as residents and workers can have easy access to amenities and services within the same vicinity.

Local special circumstances:
Singapore's limited land supply and strict land use policies have led to a scarcity of commercial real estate, especially in prime locations. This scarcity has driven up property prices and rental rates, making it a lucrative market for investors. The government has also implemented measures to attract foreign investment in the commercial real estate sector, such as offering tax incentives and streamlined regulations.

Underlying macroeconomic factors:
The robust economic growth and stable political environment in Singapore have contributed to the development of the commercial real estate market. The city-state's strategic location, well-developed infrastructure, and pro-business policies have attracted multinational corporations to set up their regional headquarters or offices in Singapore. Additionally, the government's efforts to promote innovation and entrepreneurship have further boosted demand for commercial real estate, as startups and tech companies seek a conducive environment to grow their businesses. In conclusion, the Commercial Real Estate market in Singapore is experiencing growth due to customer preferences for prime locations, flexible workspaces, and mixed-use properties. The market is also influenced by trends such as the rise of co-working spaces and the development of integrated communities. Singapore's limited land supply, government incentives, and favorable macroeconomic factors have further contributed to the growth of the market.

Methodology

Data coverage:

Figures are based on value of commercial real estate.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

Overview

  • Value
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)