R. Hirschmann
Research expert covering Singapore, Indonesia and Malaysia
Real estate in Singapore - statistics & facts
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With just under 729 square kilometers of total land area, Singapore does not have much land to accommodate its 5.45 million inhabitants. Coupled with rising affluence among the population and its role as a regional economic hub, it is thus no wonder that the city-state ranks among the world’s most expensive property markets.
The industrial real estate sector, on the other hands, saw increasing demand for warehouses to hold growing e-commerce inventory, factories for semiconductor manufacturing, and industrial parks for the biomedical and pharmaceutical industries. However, with limited supply, rents in industrial real estate are expected to remain high.
Residential real estate in Singapore
Singapore’s residential real estate market comprises of public housing under the management of the Housing Development Board (HDB) and private real estate. The majority of Singapore residents live in HDB dwellings, known locally as HDB flats. Home ownership plays a crucial role in Singapore’s nation-building strategy; thus, the purchase of an HDB flat is subsidized and regulated by the government. The purchase of new HDB dwellings is only for Singapore citizens who fulfill certain criteria; non-citizens are eligible to purchase resale HDB flats and private residential property, including landed property. Singapore’s private residential real estate market consists largely of premium and luxury real estate, making such properties a popular investment for foreigners.Office, retail, and industrial real estate in Singapore
Singapore’s office real estate sector, which has seen growth since the first quarter of 2021, has stagnated in the last two quarters of 2024. This was caused by a decrease in demand, caused by a decline in expansions from tech companies, the rise of hybrid work arrangements, as well as rising office space rental costs amidst an uncertain global economy.The industrial real estate sector, on the other hands, saw increasing demand for warehouses to hold growing e-commerce inventory, factories for semiconductor manufacturing, and industrial parks for the biomedical and pharmaceutical industries. However, with limited supply, rents in industrial real estate are expected to remain high.
R. Hirschmann
,
Mar 27, 2025
R. Hirschmann
Research expert covering Singapore, Indonesia and Malaysia
