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Singapore Real Estate Market Outlook to 2023 - By Residential Market (New Sales, Re-Sales and Sub-Sales), By Retail Market (Private and Public Retail Space), By Office Market (Private and Public Office Space) and By Hotel Market (Gazetted and Non-Gazetted Hotels)

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The report titled "Singapore Real Estate Market Outlook to 2023 - By Residential Market (New Sales, Re-Sales and Sub-Sales), By Retail Market (Private and Public Retail Space), By Office Market (Private and Public Office Space) and By Hotel Market (Gazetted and Non-Gazetted Hotels)" provides a comprehensive analysis of the real estate space within Singapore. The report covers various aspects including introduction, business models, supply and demand for residential, retail, office and hotel market. The report provides Singapore residential real estate market segmentation by new sales, sub-sales and re-sales, office segmentation by public and private office space, retail market by public and private retail space and hotels by gazette and non-gazetted hotels; comparative landscape, growth drivers, trends and developments, issues and challenges, snapshot on co-working spaces and malls, property buying process and the regulatory framework of the industry. The report concludes with future projections for all the segments and analyst recommendations highlighting the major opportunities and cautions.

Introduction
Singapore real estate industry was observed to attain maturity majorly because the country serves as a global business hub, tourism center and effective residential housing demand in the country. The country started with selling land parcels for commercial development and itself became the largest housing developer. Lack of space and high demand has allowed Singapore to evolve into a modern real estate infrastructure pioneer with mixed developments, environment friendly constructions and architectural marvels at the core of real estate. Being a global business hub, Singapore’s commercial real estate space sees major foreign investments and gain significant revenues from the presence of international players in the market. Increasing tourism allows revenue surge for retail as well as hotel real estate. Growing population and tourist influx into the country has allowed Singapore to become one of the most expensive real estate markets in the world with majority of population living in Government’s HDB properties.

Singapore Residential Real Estate Market
After three years of continuous decline in the prices during 2014-2017, the residential real estate market gained some growth momentum in 2018 with residential property price index rising during 2017-2018. The market noticed strong recovery till first half of 2018 but cooling measures such as curb on foreign ownership and revised guidelines on ABSD and LTV have led to dampened demand in the second half of 2018. One of the main drivers of residential demand is the growing population with majority of the Singaporean population living in HDB flats and condominiums. Landed properties and other planned sales by the Singapore government and the developments submitted for approval were collectively witnessed to capture the remaining market.
Despite the cooling measures and uncertain external environment, prices for private residential properties continued to increase during 2018. Buyers’ sentiments were more subdued as they adopted a “wait and see” approach after the policy changes and given external environment. On the other hand, higher availability of cheaper resale apartment / flats as well as condos in Singapore has been driving the resale market. Resale flats are cheaper as individual owners may not be able to hold on to an investment property if they face a fund crunch or not able to afford the EMIs. The residential real estate market is expected to grow at a positive CAGR over the forecast period 2019-2023. The residential segment will continue to see moderate increase in prices as the sector faces continuous low demand side pressure. Prime properties at preferred locations are still expected to be the hotspot locations with high asking price. A greater migration to the central Singapore, growing population and swelling middle class are creating additional demand for urban real estate including residential housing.

Singapore Retail Real Estate Market
The retail estate market within Singapore was observed to take a fall during the review period 2013-2018. Occupancy of retail space in fringe area registered highest decline majorly due to the completion of new retail space such as Macpherson Mall and Raffles Holland V in the region. Retail real estate in Singapore is evolving with customer engagement and is further moving towards an activity based approach to tackle offline market space. The market has been witnessing technology integration in existing and upcoming projects.
Private retail space within Singapore real estate market was observed to dominate in terms of available area in the year 2018. The private retail space includes limited large scale players capturing majority of the market. Some of the leading real estate players include operating within the country’s retail space including Capitaland, City Development, Frasers Property Ltd., UIC, UOL and United Engineers. All the major malls and retail outlets in Singapore are owned by Private retail players. This includes the retail space in the famous Orchard area of Singapore which is a retail hub and completely owned by private players. Whereas on the other hand, HDB and Government Occupancy make up the public retail real estate space which captured limited share and mostly consists of retail outlets within the HDB projects.

Singapore Office Real Estate Market
Singapore office real estate market in terms of rental revenue was witnessed to increase during the review period 2013-2018. The net absorption rate of Grade A offices within Singapore office space was good during 2013-2014 majorly in the CBD (central business district) area. Leasing demand further continued to rise from a wide range of industries coupled with the rising trend of co-working operators which has significantly contributed towards market revenue. Major deals in the CBD included the sale of 55 Market Street and the office component of OUE Downtown.
Private office space within Singapore real estate market was observed to clearly establish itself as market leader in terms of available area during the year 2018. Tech and Co-working firms continue to drive majority of the private office space supply. Singapore office real estate market is further projected to grow during the forecast period 2019-2023. Rents are projected to maintain an upward trajectory as supply pipeline dries up. Solid pre-commitments for new development are a healthy sign of vacancy going down in the upcoming years. Co-working spaces and large technology firms are further expected to drive the office space demand and the Singapore government’s decentralization strategy will take off some pressure from CBD area.

Singapore Hotel Real Estate Market
The hotel space within Singapore real estate industry was witnessed to grow during the review period 2013-2018 driven by tourism arrivals. The country’s hotel real estate industry contains a combination of gazetted and non-gazetted hotels. Hotels in Singapore are further categorized into Luxury, Upscale, Mid-tier and Economy. Singapore has 9 major hotel areas with CBD and Orchard road carrying major 5-star hotels, Sentosa Island and River District carry 4-star and 5-star hotels , Heritage District mostly carries 3-star hotels with a few 5-star hotels, Little India, Chinatown, North Downtown and Airport area emphasis more on budget, 2-star and 3-star hotels.
In terms of total room revenue, hotel space within Singapore real estate industry is further expected to grow during the forecast period 2019-2023. The market revenues are further anticipated to increase on account of increasing demand and supply of rooms. Gazetted hotels are expected to lead the supply of rooms as non-gazetted hotels show signs of stagnancy.

Comparative Landscape in Singapore Real Estate Market
The real estate industry within Singapore is further characterized by high levels of competition, an increasing demand for newer properties and commercial activities along with rising population in the country. Competition stage within the country’s real estate space was observed to be moderately concentrated along with the presence of major players such as CapitaLand, Frasers Property Ltd, UOL Group, City Developments, APAC Realty, Chip Eng Seng and Roxy-Pacific Holdings and other small players.

Key Segments Covered
Singapore Residential Real Estate Market
By Type of Dwelling
HDB Dwellings
Condoniums and Other Apartments
Landed Properties
Other Types of Dwellings
By Type of Sale
New Sale
Re-sale
Sub-Sale
Singapore Retail Real Estate Market
By Private and Public Retail Space
Singapore Office Real Estate Market
By Private and Public Office Space
Singapore Hotel Real Estate Market
By Gazetted and Non-Gazetted Hotels

Key Target Audience
Real Estate Developers
Independent Investors
Real Estate Consulting Companies
Third Party Real Estate Companies
Independent Architects
Government Associations
Government Agencies

Time Period Captured in the Report:
Historical Period - 2013-2018
Forecast Period - 2019-2023

Major Companies Covered:
CapitaLand
Frasers Property Ltd
UOL Group
City Developments
APAC Realty
Chip Eng Sen
Roxy-Pacific Holdings
Other Players

Key Topics Covered in the Report
Executive Summary
Research Methodology
Singapore Real Estate Market Overview and Genesis
Singapore Real Estate Market Business Model
Singapore Residential Real Estate Market, 2016-2023
Singapore Retail Real Estate Market, 2013-2023
Singapore Office Real Estate Market, 2013-2023
Singapore Hotel Real Estate Market, 2013-2023
Major Investment Pockets in Singapore Real Estate Market
Trends and Developments in Singapore Real Estate Market
Issues and Challenges in Singapore Real Estate Market
Regulation Framework in Singapore Real Estate Market
Comparative Landscape in Singapore Real Estate Market
Property Buying Process in Singapore Real Estate Market
Analyst Recommendations for Singapore Real Estate Market

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Table Of Content

Scope

1. Executive Summary

2. Research Methodology

2.1. Market Definitions
2.2. Abbreviations
2.3. Consolidated Research Approach
2.4. Market Sizing Approach and Market Limitations

3. Singapore Real Estate Market Overview and Genesis (Timeline of Major Players Operating in Singapore Real Estate Market; Pre and Post 2008 Crisis; and Economic Overview and Developments)

4. Singapore Real Estate Market Business Model (Process Flow; Business Model for Singapore Real Estate Online Portals; and Broker Fees and Margin)

5. Singapore Residential Real Estate Market, 2016-2023

5.1. Singapore Residential Real Estate Market Size, 2016-2018
5.2. Singapore Residential Real Estate Market Segmentation, 2013-2018

5.2.1. By Type of Dwelling (HDB Dwellings, Condominiums and Other Apartments, Landed Properties and Other Types of Dwellings), 2013-2017
5.2.2. By Type of Sales (New Sale, Re Sale and Sub Sale), 2016-2018
5.2.3. By Region (CCR, OCR and RCR), 2016-2018
5.2.4. By Lease Type (Freehold, 99 years Lease, 999 years Lease and Other Types of Lease), 2016-2018
5.2.5. By Property Type (Apartment, Condo, Houses, Strata and Terrace), 2016-2018

5.3. Singapore Residential Real Estate Market Future Outlook and Projects, 2019-2023

5.3.1. By Revenue, 2019-2023
5.3.2. Major Upcoming Residential Real Estate Projects in Singapore

6. Singapore Retail Real Estate Market, 2013-2023

6.1. Singapore Retail Real Estate Market Size, 2013-2018
6.2. Singapore Retail Real Estate Market Segmentation, 2013-2018

6.2.1. By Public and Private Retail Space, 2013-2018

6.3. Case Studies on Malls within Singapore

6.3.1. Mall Case Study 1- ION Orchard
6.3.2. Mall Case Study 2- VIVO City Mall
6.3.3. Mall Case Study 3- Suntec City Mall

6.4. Singapore Retail Real Estate Market Future Outlook and Projects, 2019-2023

6.4.1. By Revenue, 2019-2023
6.4.2. Major Upcoming Retail Developments in Singapore

7. Singapore Office Real Estate Market, 2013-2023

7.1. Singapore Office Real Estate Market Size, 2013-2018
7.2. Singapore Office Real Estate Market Segmentation, 2013-2018

7.2.1. By Public and Private Office Space, 2013-2018

7.3. Snapshot on Co-Working Spaces within Singapore (Co-Working Ecosystem in Singapore, Major Deals, Growth of Co-Working Spaces on the Basis of Leased Space, Market Developments and Key Takeaways, and Major Leading Co-Working Spaces in Singapore)
7.4. Singapore Office Real Estate Market Future Outlook and Projects, 2019-2023

7.4.1. By Revenue, 2019-2023
7.4.2. Major Upcoming Office Developments in Singapore

8. Singapore Hotel Real Estate Market, 2013-2023

8.1. Singapore Hotel Real Estate Market Size, 2013-2018
8.2. Singapore Hotel Real Estate Market Segmentation, 2013-2018

8.2.1. By Gazetted and Non-Gazetted Hotels, 2013-2018

8.3. Singapore Hotel Real Estate Market Future Outlook and Projects, 2019-2023

8.3.1. By Revenue, 2019-2023
8.3.2. Major Upcoming Hotel Developments in Singapore

9. Major Investment Pockets in Singapore Real Estate Market (Current Projects, Upcoming Projects and Key Takeaways)

10. Trends and Developments in Singapore Real Estate Market (Including factors affecting Singapore Real Estate Industry)

11. Issues and Challenges in Singapore Real Estate Market

12. Regulatory Framework in Singapore Real Estate Market

12.1. Key Authorities Operating in Singapore Real Estate Market
12.2. Regulations for Renting Out HDB Flat in Singapore
12.3. Regulations for Renting Out Private Properties in Singapore
12.4. Regulations for Purchasing Private Properties in Singapore
12.5. Regulations for Selling HDB Flat in Singapore
12.6. Regulations for Purchasing HDB Flat in Singapore
12.7. Sale of Commercial Property Act, Singapore

13. Comparative Landscape in Singapore Real Estate Market

13.1. Competition Scenario in Singapore Real Estate Market (Competition Stage, Market Stage, Parameters on the Basis of which Companies Compete in Singapore Real Estate Market, Estimated Developers’ Exposure i.e. Amount of Funds Invested to various Market Segments and Key Takeaways)
13.2. Company Profile of Major Players Operating in Singapore Real Estate Market (Company Overview, USP, Business Strategies, Financial Matrix, Property Portfolio, Recent Developments, Areas of Operations, Major Projects Undertaken i.e. current projects, on-going projects and future projects)

13.2.1. CapitaLand
13.2.2. UOL
13.2.3. Chip Eng Seng Corporation Ltd (CES)
13.2.4. APAC Realty
13.2.5. Roxy-Pacific Holding Ltd
13.2.6. Other Players Operating in Singapore Real Estate Market (Frasers Property Ltd. and City Developments Ltd.)

14. Property Buying Process in Singapore Real Estate Market (Process Flow)

14.1. Private Property
14.2. Housing Development Board (HDB) Flats

15. Analyst Recommendations for Singapore Real Estate Market

16. Disclaimer

17. Contact Us

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Products and Companies

Products

Singapore Residential Real Estate Market (By Type of Dwelling (HDB Dwellings, Condoniums and Other Apartments, Landed Properties, Other Types of Dwellings), By Type of Sale (New Sale, Re-sale, Sub-Sale)), Singapore Retail Real Estate Market (By Private and Public Retail Space), Singapore Office Real Estate Market (By Private and Public Office Space), Singapore Hotel Real Estate Market (By Gazetted and Non-Gazetted Hotels)


Companies

CapitaLand, Frasers Property Ltd, UOL Group, City Developments, APAC Realty, Chip Eng Sen, Roxy-Pacific Holdings, Other Players