Housing Index in Singapore increased to 210.70 points in the first quarter of 2025 from 209.40 points in the fourth quarter of 2024. This dataset provides the latest reported value for - Singapore Property Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Singapore real estate market, valued at $46.58 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 6.57% from 2025 to 2033. This positive trajectory is driven by several key factors. Singapore's strong economic fundamentals, a stable political environment, and a consistently high demand for residential and commercial properties contribute significantly to market expansion. Furthermore, government initiatives aimed at improving infrastructure and attracting foreign investment fuel this growth. The increasing affluence of the population, coupled with limited land availability, continues to exert upward pressure on property prices, particularly in prime locations. However, the market is not without its challenges. Rising interest rates and potential regulatory changes could act as restraints, potentially moderating growth in the coming years. Nevertheless, the long-term outlook remains optimistic, particularly given the ongoing demand fueled by a growing population and a robust economy. The market is segmented into various property types, including residential (condominiums, apartments, landed properties), commercial (office spaces, retail malls), and industrial (warehouses, factories), each exhibiting its own growth dynamics. Key players such as UOL Group Limited, CapitaLand, GuocoLand Limited, and City Developments Limited, along with several others, compete within this dynamic landscape. The historical period (2019-2024) likely saw fluctuations influenced by global economic events and local policy adjustments. Considering the 2025 market value and projected CAGR, a reasonable estimation for market size progression would show consistent growth, potentially experiencing some year-on-year variance based on economic cycles and policy changes. While specific regional data is unavailable, Singapore's relatively compact geography suggests a less pronounced regional disparity in market share compared to larger countries. The continued emphasis on urban planning and development will likely see a sustained high demand for properties across different segments and locations throughout the forecast period. The competitive landscape, marked by both established giants and emerging developers, is likely to remain dynamic, influenced by mergers and acquisitions, and innovation in property development and management. Recent developments include: April 2024: Two historical buildings in the Pearl’s Hill vicinity are set to be demolished to make way for new housing developments. The government plans to build 6,000 new homes in the area over the next decade. The third housing site is located at the intersection of Chin Swee and Outram roads, while the white site sits primarily atop the underground Outram Park MRT station. The 2.9 ha white site, with a plot ratio of 6.3, has condominium units and long-term serviced apartments., March 2024: To meet the demand for homes, the government decided to launch a new housing area in Yishun and may develop a new residential neighborhood at Gillman Barracks. About 10,000 homes will be built in the new Yishun estate of Chencharu, situated near Khatib MRT station. At least 80% will be public housing, with the first Build-to-Order (BTO) project comprising 1,200 units of two-room Flexi to five-room flats to be launched in 2024.. Key drivers for this market are: Increasing Economic Growth, High Demand for Property Boosting the Market. Potential restraints include: Increasing Economic Growth, High Demand for Property Boosting the Market. Notable trends are: Rise in the Residential Segment of the Singapore Real Estate Market.

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Singapore Real Estate Market Size 2025-2029

The singapore real estate market size is forecast to increase by USD 62.6 billion at a CAGR of 4.6% between 2024 and 2029.

The market is witnessing significant growth, driven primarily by the burgeoning demand for industrial infrastructure. This trend is fueled by the country's status as a global business hub, attracting numerous multinational corporations seeking to establish a presence. Concurrently, marketing initiatives in the real estate industry are gaining momentum, with developers increasingly adopting innovative strategies to differentiate their offerings and cater to diverse customer segments. However, this market landscape is not without challenges. Regulatory uncertainty looms large, with ongoing debates surrounding potential changes to property cooling measures and land use regulations. These uncertainties could deter investors and developers, potentially hindering market growth. As such, navigating the complex regulatory environment and staying abreast of policy developments will be crucial for companies looking to capitalize on opportunities and mitigate risks in the Singapore Real Estate market.

What will be the size of the Singapore Real Estate Market during the forecast period?

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The Singapore real estate market exhibits dynamic activity in various sectors. The sub-sale market experiences continuous fluctuations, influenced by property valuation models and market forecasting. Property law plays a crucial role in real estate financing and collective sales, including en bloc and strata title transactions. Property investment funds and real estate syndication provide financing options for freehold and leasehold properties. Real estate litigation arises from property disputes, necessitating ethical conduct in property management services. Proptech adoption streamlines property search engines and portfolio management, while property tax incentives stimulate investment. Rental management services and property insurance mitigate risks in the diverse real estate landscape. Property market trends encompass master plans, property crowdfunding, and real estate marketing strategies.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. AreaResidentialCommercialIndustrialMode Of BookingSalesRental and leaseTypeLanded houses and villasOffice spaceApartments and condominiumsStore spaceOthersPriceMid-tierEntry-levelLuxuryGeographyAPACSingapore

By Area Insights

The residential segment is estimated to witness significant growth during the forecast period.

The Singapore real estate market encompasses various sectors, including residential, commercial, and industrial properties. The residential segment, comprised of apartments, condominiums, single-family homes, and other living arrangements, experiences significant demand due to population growth and the country's robust economy. Urban renewal projects and sustainable development initiatives contribute to the transformation of the property market. Commercial real estate, including office buildings and retail spaces, benefit from the thriving economy and increasing business activities. Property management companies employ technology, such as virtual and augmented reality, to enhance the property buying and selling experience. Real estate investment trusts and funds provide opportunities for investors seeking capital appreciation and rental income. Property prices have been on an upward trend due to high demand and limited supply, with vacancy rates remaining relatively low. Property taxes, stamp duty, and government policies influence the market dynamics. Urban planning and infrastructure development are essential for economic growth and smart city initiatives. Real estate developers and proptech startups leverage technology, including artificial intelligence and big data, to streamline property transactions and enhance property management. The rental market, property valuation, and property development are shaped by various factors, including rental yield, housing affordability, and market sentiment. Land use planning and regulations play a crucial role in shaping the real estate landscape. Capital appreciation and rental income continue to attract investors to the market, with mortgage rates influencing affordability. Smart home technologies and green building standards add value to both residential and commercial properties.

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The Residential segment was valued at USD 100.30 billion in 2019 and showed a gradual increa

Key information about House Prices Growth

• Singapore house prices grew 3.9% YoY in Dec 2024, following an increase of 4.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1976 to Dec 2024, with an average growth rate of 4.9%.
• House price data reached an all-time high of 102.0% in Mar 1981 and a record low of -34.0% in Dec 1998.

In the second quarter of 2023, the price index value for industrial property in Singapore amounted to 103.9. The index shows how the property prices changed in those years, compared to the base value from the fourth quarter of 2012, when the index value was equal to 100.

Singapore Consumer Price Index (CPI): IL: Highest 20%: Housing & Utilities: Accommodation data was reported at 114.042 2019=100 in Dec 2024. This records an increase from the previous number of 112.688 2019=100 for Jun 2024. Singapore Consumer Price Index (CPI): IL: Highest 20%: Housing & Utilities: Accommodation data is updated semiannually, averaging 105.040 2019=100 from Jun 2014 (Median) to Dec 2024, with 22 observations. The data reached an all-time high of 114.631 2019=100 in Jun 2014 and a record low of 99.882 2019=100 in Jun 2019. Singapore Consumer Price Index (CPI): IL: Highest 20%: Housing & Utilities: Accommodation data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I022: Consumer Price Index: By Income Levels: 2019=100.

In 2020, the price to income ratio for new sales of private non-landed residential units in Singapore was 15.4. This ratio, also known as the housing affordability ratio, meant that a median-income household in Singapore would need to save for at least 15.4 years to purchase a private non-landed home.

Singapore Consumer Price Index (CPI): Housing & Utilities: Utilities & Other Fuels: Electricity data was reported at 97.378 2019=100 in Mar 2020. This records a decrease from the previous number of 97.673 2019=100 for Feb 2020. Singapore Consumer Price Index (CPI): Housing & Utilities: Utilities & Other Fuels: Electricity data is updated monthly, averaging 99.375 2019=100 from Jan 2014 (Median) to Mar 2020, with 75 observations. The data reached an all-time high of 119.519 2019=100 in Jun 2014 and a record low of 82.140 2019=100 in Jun 2016. Singapore Consumer Price Index (CPI): Housing & Utilities: Utilities & Other Fuels: Electricity data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I001: Consumer Price Index: 2019=100.

The ASEAN condominiums and apartments market exhibits robust growth, driven by rapid urbanization, rising disposable incomes, and a burgeoning middle class across the region. A CAGR exceeding 7.50% from 2019 to 2024 suggests a consistently expanding market. Key drivers include increasing demand for modern housing, particularly in major cities like Singapore, Bangkok, Kuala Lumpur, and Jakarta, fueled by strong economic growth and tourism. Government initiatives promoting infrastructure development and affordable housing further stimulate market expansion. However, challenges persist, including fluctuating property prices influenced by global economic conditions, and potential supply chain disruptions impacting construction timelines and costs. The market is segmented geographically, with significant variations in pricing and demand across countries within ASEAN. Furthermore, the market is characterized by a diverse range of developers, from large multinational corporations to local firms, leading to a competitive landscape. This diverse developer landscape offers a wide range of housing options, catering to different budgets and preferences. The market also faces potential restraints such as regulatory hurdles concerning land acquisition and building permits, alongside fluctuations in interest rates that may impact mortgage accessibility. The forecast period of 2025-2033 promises continued growth, with the market expected to expand substantially based on the sustained positive trends. While specific value projections are unavailable, estimations based on the provided CAGR and considering macroeconomic forecasts for ASEAN point towards a consistently upwards trajectory. Increased foreign direct investment (FDI) in the real estate sector, especially in countries with strong economic fundamentals, will likely boost market expansion. However, careful attention to sustainability considerations and the integration of green building technologies will be crucial for long-term growth and maintaining market competitiveness. The market will likely witness an increasing focus on luxury and high-end properties driven by the expanding affluent class within ASEAN. Simultaneously, the demand for affordable housing will remain a significant driver, encouraging developers to explore innovative construction methods and financing schemes. Recent developments include: September 2022 - GuocoLand's Lentor Modern, a 99-year leasehold integrated private residential project, sold 508 units, or 84% of its 605 units, during its initial launch. GuocoLand said in a press release that units in the integrated mixed-use development to be built in the new Lentor Hills estate in District 20 ranged from USD 1,856 per sq ft to USD 2,538 per sq ft. Prices for the units ranged from USD 1.07 million for a 527 sq ft one-bedroom unit to USD 3.33 million for a 1,528 sq ft four-bedroom apartment at the time of launch., June 2022 - A Chinese national is said to have paid more than USD 62.92 million for 20 units at CanningHill Piers, a condominium on the Singapore River. The buyer, who is from Fujian, China, is also said to be interested in purchasing 10 more units, bringing the total transaction value to more than USD 74.02 million. The 20 units purchased a few days ago include ten three-room flats priced between USD 2.29 million and USD 2.44 million and ten four-room flats priced between USD 3.92 million and USD 4.15 million.. Notable trends are: Increase in demand for multifamily housing driving the market.

Singapore GNP for 2023 was 417.72 billion US dollars, a 10.66% increase from 2022.

<ul style='margin-top:20px;'>

<li>Singapore GNP for 2022 was <strong>377.48 billion US dollars</strong>, a <strong>6.54% increase</strong> from 2021.</li>
<li>Singapore GNP for 2021 was <strong>354.30 billion US dollars</strong>, a <strong>12.7% increase</strong> from 2020.</li>
<li>Singapore GNP for 2020 was <strong>314.36 billion US dollars</strong>, a <strong>6.28% decline</strong> from 2019.</li>
</ul>GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

Singapore Consumer Price Index (CPI): IL: Middle 60%: Housing & Utilities: Others Fuels: Gas data was reported at 117.462 2019=100 in Dec 2024. This records an increase from the previous number of 116.272 2019=100 for Jun 2024. Singapore Consumer Price Index (CPI): IL: Middle 60%: Housing & Utilities: Others Fuels: Gas data is updated semiannually, averaging 100.524 2019=100 from Jun 2014 (Median) to Dec 2024, with 22 observations. The data reached an all-time high of 117.462 2019=100 in Dec 2024 and a record low of 88.360 2019=100 in Jun 2016. Singapore Consumer Price Index (CPI): IL: Middle 60%: Housing & Utilities: Others Fuels: Gas data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I022: Consumer Price Index: By Income Levels: 2019=100.

Singapore Consumer Price Index (CPI): IL: Highest 20%: Housing & Utilities: Others Fuels: Electricity data was reported at 121.698 2019=100 in Dec 2024. This records a decrease from the previous number of 122.599 2019=100 for Jun 2024. Singapore Consumer Price Index (CPI): IL: Highest 20%: Housing & Utilities: Others Fuels: Electricity data is updated semiannually, averaging 101.716 2019=100 from Jun 2014 (Median) to Dec 2024, with 22 observations. The data reached an all-time high of 122.599 2019=100 in Jun 2024 and a record low of 86.102 2019=100 in Dec 2020. Singapore Consumer Price Index (CPI): IL: Highest 20%: Housing & Utilities: Others Fuels: Electricity data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I022: Consumer Price Index: By Income Levels: 2019=100.

In 2024, the Singaporean market for bearing housings incorporating ball or roller bearings decreased by -0.1% to $7.6M for the first time since 2020, thus ending a three-year rising trend. In general, consumption, however, posted a modest increase. Over the period under review, the market attained the maximum level at $14M in 2018; however, from 2019 to 2024, consumption remained at a lower figure.

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REIT Market Size 2025-2029

The reit market size is forecast to increase by USD 372.8 billion, at a CAGR of 3% between 2024 and 2029.

The market is experiencing significant growth driven by the increasing global demand for warehousing and storage facilities. This trend is fueled by the e-commerce sector's continued expansion, leading to an increased need for efficient logistics and distribution networks. An emerging trend in the market is the rise of self-storage as a service, offering investors attractive returns and catering to the growing consumer preference for flexible and convenient storage solutions. However, the market faces challenges as well. Vertical integration by e-commerce companies poses a threat to the industry, as these companies increasingly control the entire supply chain from production to delivery, potentially reducing the need for third-party logistics and storage providers. Additionally, regulatory changes and economic uncertainties can impact REITs' profitability and investor confidence. Companies seeking to capitalize on market opportunities and navigate challenges effectively must stay informed of these trends and adapt to the evolving landscape.

What will be the Size of the REIT Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with various sectors such as retail, industrial, and commercial real estate experiencing dynamic shifts. Family offices, pension funds, high-net-worth individuals, and sovereign wealth funds increasingly invest in this asset class, seeking diversification and stable returns. Market volatility, driven by economic cycles and interest rate fluctuations, influences investment strategies. Artificial intelligence and property technology are transforming the industry, with data analytics and digital platforms streamlining property management, investment, and appraisal processes. Multifamily housing and single-family homes remain popular choices due to their rental income potential and capital appreciation opportunities. Property taxes, inflation risk, and maintenance costs are essential considerations for investors, requiring effective risk management strategies. Net operating income, return on equity, and occupancy rates are critical performance metrics. Regulatory environment and property regulations also impact the market, influencing capitalization rates and shareholder value. Institutional investors explore equity and debt financing, real estate brokerage, and securities offerings to capitalize on opportunities. Property investment platforms, real estate syndications, and property management companies facilitate access to diverse offerings. Green building standards and sustainable development are gaining traction, attracting socially responsible investors. The ongoing digital transformation of the real estate sector, including smart buildings and hybrid REITs, offers new investment opportunities and challenges. Investors must stay informed of market trends and adapt their strategies accordingly.

How is this REIT Industry segmented?

The reit industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeIndustrialCommercialResidentialApplicationWarehouses and communication centersSelf-storage facilities and data centersOthersProduct TypeTriple netDouble netModified gross leaseFull servicePercentageGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSingaporeRest of World (ROW).

By Type Insights

The industrial segment is estimated to witness significant growth during the forecast period.The retail and industrial real estate sectors dominate the market, with industrial real estate leading in 2024. The industrial segment's growth is driven by the increasing demand for warehousing space due to the surge in e-commerce and online sales during the COVID-19 pandemic. Supply chain disruptions have compelled companies to lease more warehouse space to store additional inventory, leading to increased occupancy and rental rates. Furthermore, the proximity of fulfillment centers to metropolitan areas caters to the growing number of online consumers. This trend will continue to fuel the expansion of industrial REITs, offering significant growth opportunities for the market. Asset management companies, pension funds, and high-net-worth individuals are increasingly investing in REITs for their attractive dividend yields and potential for capital appreciation. Private equity firms and family offices are also active players in the market, providing equity financing for REITs. Real estate agents and brokers facilitate transactions, while debt

Singapore Consumer Price Index (CPI): IL: Lower 20%: Housing & Utilities: Others data was reported at 117.314 2019=100 in Dec 2024. This records an increase from the previous number of 116.164 2019=100 for Jun 2024. Singapore Consumer Price Index (CPI): IL: Lower 20%: Housing & Utilities: Others data is updated semiannually, averaging 98.379 2019=100 from Jun 2014 (Median) to Dec 2024, with 22 observations. The data reached an all-time high of 117.314 2019=100 in Dec 2024 and a record low of 83.384 2019=100 in Jun 2016. Singapore Consumer Price Index (CPI): IL: Lower 20%: Housing & Utilities: Others data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I022: Consumer Price Index: By Income Levels: 2019=100.

Singapore Consumer Price Index (CPI): IL: Lower 20%: Housing & Utilities: Others Fuels: Gas data was reported at 115.833 2019=100 in Dec 2024. This records an increase from the previous number of 114.467 2019=100 for Jun 2024. Singapore Consumer Price Index (CPI): IL: Lower 20%: Housing & Utilities: Others Fuels: Gas data is updated semiannually, averaging 101.014 2019=100 from Jun 2014 (Median) to Dec 2024, with 22 observations. The data reached an all-time high of 115.833 2019=100 in Dec 2024 and a record low of 88.362 2019=100 in Jun 2016. Singapore Consumer Price Index (CPI): IL: Lower 20%: Housing & Utilities: Others Fuels: Gas data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I022: Consumer Price Index: By Income Levels: 2019=100.

Singapore Consumer Price Index (CPI): MoM: Housing & Utilities data was reported at 0.100 % in Dec 2024. This records an increase from the previous number of -0.100 % for Nov 2024. Singapore Consumer Price Index (CPI): MoM: Housing & Utilities data is updated monthly, averaging 0.000 % from Feb 1961 (Median) to Dec 2024, with 767 observations. The data reached an all-time high of 8.400 % in Jan 1974 and a record low of -3.100 % in Jan 2009. Singapore Consumer Price Index (CPI): MoM: Housing & Utilities data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I010: Consumer Price Index: 2019=100: Percentage Change.

Singapore Consumer Price Index (CPI): Weights: Housing & Utilities: U&OF: Water Supply data was reported at 0.660 % in 2024. This records a decrease from the previous number of 0.830 % for 2023. Singapore Consumer Price Index (CPI): Weights: Housing & Utilities: U&OF: Water Supply data is updated yearly, averaging 0.830 % from Dec 2014 (Median) to 2024, with 11 observations. The data reached an all-time high of 0.830 % in 2023 and a record low of 0.660 % in 2024. Singapore Consumer Price Index (CPI): Weights: Housing & Utilities: U&OF: Water Supply data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I008: Consumer Price Index: 2019=100: Weights: Annual.

Singapore Consumer Price Index (CPI): IL: Middle 60%: Housing & Utilities: Accommodation data was reported at 115.798 2019=100 in Dec 2024. This records an increase from the previous number of 113.801 2019=100 for Jun 2024. Singapore Consumer Price Index (CPI): IL: Middle 60%: Housing & Utilities: Accommodation data is updated semiannually, averaging 106.965 2019=100 from Jun 2014 (Median) to Dec 2024, with 22 observations. The data reached an all-time high of 116.903 2019=100 in Jun 2014 and a record low of 99.855 2019=100 in Jun 2019. Singapore Consumer Price Index (CPI): IL: Middle 60%: Housing & Utilities: Accommodation data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I022: Consumer Price Index: By Income Levels: 2019=100.

Singapore Consumer Price Index (CPI): IL: Lowest 20 %: Housing & Utilities data was reported at 99.783 2019=100 in Jun 2020. This records a decrease from the previous number of 99.994 2019=100 for Dec 2019. Singapore Consumer Price Index (CPI): IL: Lowest 20 %: Housing & Utilities data is updated semiannually, averaging 71.384 2019=100 from Jun 1993 (Median) to Jun 2020, with 55 observations. The data reached an all-time high of 114.115 2019=100 in Jun 2014 and a record low of 60.325 2019=100 in Jun 1993. Singapore Consumer Price Index (CPI): IL: Lowest 20 %: Housing & Utilities data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.I015: Consumer Price Index: By Income Levels: 2019=100.