A delicate balance
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Investment
- Singapore’s investment sales witnessed a dip in 4Q 2024 to S$6.5 billion. Nonetheless, total sales rose 28.7% YoY to S$25.2 billion for 2024 compared to 2023.
Office
- Singapore’s office market experienced an increase in overall occupancy to 95.0% in 4Q 2024, driven by demand in the CBD. Both Premium and Grade A rents in the CBD remained stable for 2024.
Industrial
Singapore’s industrial property index saw a 3.5% YoY growth in 2024. Island-wide occupancy rates held steady at 89.0% in 4Q 2024, with warehouse rising to 91.5% and Business Parks declining to 77.9%. Warehouse rents grew 1.0% QoQ, while Business Park rents fell 1.0% QoQ.
Retail
- Singapore’s retail sector remains resilient, bolstered by the recovery of tourism, high occupancy rates, and steady leasing demand. Singapore’s retail sector remains a prime destination for global brands and investors.
Residential
- Singapore’s residential market saw a rise in transaction volume to 21,950 units in 2024, driven by strong primary sales in 4Q 2024. Rental rates fell 1.9% YoY, but transaction volume grew 4.7% YoY, indicating market stabilisation.