Calm waters, selective tailwinds
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Investment
- Singapore’s investment sales surged 82.5% QoQ to S$10.1 billion in 3Q 2025, largely driven by Government Land Sales (GLS) and developers’ preference for well-located sites replete with amenities.
Office
- Office rents in the Central Region were stable in 3Q 2025, with the URA rental index easing 0.1 per cent QoQ and CBD Grade A rents staying unchanged at S$9.80 psf per month. Island-wide occupancy declined marginally by 0.2 percentage points to 94.8 per cent, led by negative absorption in decentralised areas.
Industrial
- Industrial property prices rose 0.6% QoQ in 3Q 2025, led by single-user factories, slower than the 1.4% QoQ growth in 2Q 2025. Overall occupancy rose to 0.3 percentage points to 89.1%, driven by warehouse demand. All industrial property rents grew 0.5% QoQ in 3Q 2025, moderating from the 0.7% QoQ recorded in 2Q 2025.
Retail
- Singapore welcomed 4.5 million international visitors in 3Q 2025 driven by holidays and MICE events. Retail rents are expected to rise modestly in the near term. Leasing activity is likely to focus on relocations, downsizing, and space optimisation as retailers manage rising costs and consumer preferences.
Residential
- Private home prices rose 0.9% QoQ in 3Q 2025, led by increases in the landed and non-landed CCR and OCR segments. Transaction volumes grew 44.4% QoQ to 7,404 units on higher primary sales, while rents edged up 1.2% QoQ amid steady leasing activity.