Singapore's economy was one of the first - and hardest - to be hit by the global economic slowdown. This has had serious ramifications for all major real estate sectors - and exacerbated a deterioration in conditions that had begun in Q208. In Q109 home and office prices saw a record decline of more than 10%. Rents also fell sharply. Some analysts see the market further contracting by as much as 25% in the residential sector. They say it could be even greater in high-end luxury developments. Data from the Urban Redevelopment Authority (URA) show that real estate transactions in January were the lowest since URA began keeping records in June 2007. There is confidence in the long-term, however. The Urban Land Institute and PricewaterhouseCoopers (PwC) in May 2009 rated Singapore second among the top five Asia Pacific cities (out of a total of 20 surveyed) for property investment in its regional report Emerging Trends in Real Estate. Prices in the residential sector are likely to slide further down as newly finished developments enter an already weak market, reported Jones Lang LaSalle. Rental yields are expected to drop further in 2009 as economic conditions worsen. The office sector was responsible for 30.2% of 2008's total property investment sales, according to CB Richard Ellis (CBRE). In absolute terms, the 2008 figure is 62.4% lower than that of 2007.
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Report Table of Contents:
Executive Summary
- Key Features Of This Report
- SWOT Analysis
- Singapore Real Estate/Construction SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
- Real Estate Market Overview
- Key Projects
- Construction Overview
- New And Ongoing Projects
- Residential Construction
- Tourism Construction
- Major Projects
Table: Major Projects - Transport
Table: Major Projects - Construction
- Real Estate Investment Trusts
Table: FTSE EPRA/NAREIT Global Real Estate Indices Total Returns (%, US dollar terms)
Table: US REITs - Total Returns (%, US dollar terms)
- Industry Finance Outlook
- Global Outlook
- Singapore’
- Monetary Policy
Table: Singapore - Monetary Policy
- Industry Forecast Scenario
- Asia Pacific Real Estate Forecasts
Table: Asia Pacific Housing Prices At A Glance (% change y-o-y)
Table: Asia Pacific Office Rents, CBRE
Table: Current And Forecast Office Rents, 2008-2014 (US$ per square metre per month)
- Singapore Real Estate Forecast
Table: Singapore - Construction Industry Forecast, 2007-2013
- Singapore Macroeconomic Outlook
- Economic Activity
Table: Singapore - Economic Activity
- Business Environment
- Real Estate/Construction Business Environment Ratings
Table: Asia Real Estate/Construction Business Environment Ratings
- Singapore’
- Project Finance Ratings
Table: Design And Construction Rating
Table: Commissioning And Operating Rating
Table: Overall Project Finance Rating
- Singapore’
- Business Environment Outlook - Q1 2010
- Latest Developments
Table: BMI Business and Operational Risk
- Institutions
Table: BMI Legal Framework Ratings
- Infrastructure
Table: Labor Force Quality
- Market Orientation
Table: Asia, Annual Inflows
Table: BMI Trade Ratings
Table: Top Export Destinations
- Operational Risk
- Company Monitor
- Sembcorp Industries
- Dragages Singapore
- Singapore Land
- CapitaLand
- City Developments
- Keppel Land
- UOL Group
- BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
Table: Weighting Of Indicators
- Project Finance Ratings Indicators
Table: Design And Construction Phase
Table: Commissioning And Operating Phase - Commercial Construction
Table: Commissioning And Operating Phase - Energy And Utilities
Table: Commissioning And Operating Phase - Transport
- Sources
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