Dataset from Urban Redevelopment Authority. For more information, visit https://data.gov.sg/datasets/d_f333bf427c827efb484cf57a73ff700a/view

In the second quarter of 2023, the price index value for industrial property in Singapore amounted to *****. 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 Property Price Index: Retail Space: Central Area data was reported at 100.000 4Q1998=100 in Sep 2018. This records an increase from the previous number of 99.300 4Q1998=100 for Jun 2018. Singapore Property Price Index: Retail Space: Central Area data is updated quarterly, averaging 118.400 4Q1998=100 from Mar 2011 (Median) to Sep 2018, with 31 observations. The data reached an all-time high of 123.800 4Q1998=100 in Sep 2013 and a record low of 99.300 4Q1998=100 in Jun 2018. Singapore Property Price Index: Retail Space: Central Area data remains active status in CEIC and is reported by Urban Redevelopment Authority. The data is categorized under Global Database’s Singapore – Table SG.EB002: Property Price Index.

The Singapore Real Estate Market Report is Segmented by Property Type (Residential and Commercial), by Business Model (Sales and Rental), by End User (Individuals/Households, Corporates & SMEs and Others), and by Region (Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR)). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

1 Singapore Dollar == 0.70 United States Dollar 1 Singapore Dollar == 0.72 Euro 1 Singapore Dollar == 5.11 Chinese Yuan 1 Singapore Dollar == 3.64 Brazilian Real 1 Singapore Dollar == 58.24 Indian Rupee 1 Singapore Dollar == 2.65 Saudi Riyal 1 Singapore Dollar == 2.58 United Arab Emirates Dirham 1 Singapore Dollar == 153.95 Pakistani Rupee 1 Singapore Dollar == 14.05 Mexican Peso 1 Singapore Dollar == 10,967.44 Indonesian Rupiah 1 Singapore Dollar == 1.12 Australian Dollar

Snapshot img

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?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

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.

Request Free Sample

The Residential segment was valued at USD 100.30 billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Ou

Singapore Property Price Index: Retail Space: Fringe Area data was reported at 123.500 4Q1998=100 in Sep 2018. This records an increase from the previous number of 123.400 4Q1998=100 for Jun 2018. Singapore Property Price Index: Retail Space: Fringe Area data is updated quarterly, averaging 130.600 4Q1998=100 from Mar 2011 (Median) to Sep 2018, with 31 observations. The data reached an all-time high of 137.300 4Q1998=100 in Jun 2014 and a record low of 122.800 4Q1998=100 in Dec 2017. Singapore Property Price Index: Retail Space: Fringe Area data remains active status in CEIC and is reported by Urban Redevelopment Authority. The data is categorized under Global Database’s Singapore – Table SG.EB002: Property Price Index.

In the fourth quarter of 2024, the rental index for industrial property in Singapore was at *****. This was the highest value since the third quarter of 2018.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_620ad30cf4aca7c1c25eb2eff9e4bedc/view

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.

In 2024, the home ownership rate among residents in Singapore was at 90.8 percent, an increase from the previous year. Singapore has high rates of home ownership, despite being among the world’s most expensive property markets. Singapore’s public housing policy hinges on high rates of home ownership Home ownership is seen as key to nation-building in Singapore, and thus makes up the core of its public housing policy. The Home Ownership Scheme, introduced in 1964, provides grants and subsidies to Singaporean citizens planning to purchase a housing unit under the management of the Housing Development Board (HDB). As a result, 80 percent of the residents in Singapore live in public housing. Priced out of the private market? While new HDB units are only available for Singaporean citizens, the resale and private housing market are open to non-citizens as well. Private residential property in Singapore is seen as an attractive and safe investment for many foreign buyers. Luxury private apartments, costing millions of dollars, are unattainable for many residents

Singapore Median Price: Retail Space: Fringe Area data was reported at 11,730.000 SGD/sq m in Sep 2018. This records an increase from the previous number of 11,721.000 SGD/sq m for Jun 2018. Singapore Median Price: Retail Space: Fringe Area data is updated quarterly, averaging 12,407.000 SGD/sq m from Mar 2011 (Median) to Sep 2018, with 31 observations. The data reached an all-time high of 13,041.000 SGD/sq m in Jun 2014 and a record low of 11,664.000 SGD/sq m in Dec 2017. Singapore Median Price: Retail Space: Fringe Area data remains active status in CEIC and is reported by Urban Redevelopment Authority. The data is categorized under Global Database’s Singapore – Table SG.EB003: Property Median Price.

Dataset from Urban Redevelopment Authority. For more information, visit https://data.gov.sg/datasets/d_49962204d37550d54175c2e5f0e78025/view

Singapore Luxury Residential Real Estate Market Report is Segmented by Property Type (Apartments & Condominiums, Villas & Landed Houses), by Business Model (Sales and Rental), by Mode of Sale (Primary (New-Build) and Secondary (Existing-Home Resale)), and by District (Central Business District (CBD), Orchard Road and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

General Information and License

• HDB Resale Price data made available by SG government through the Open Data License.
  1. https://beta.data.gov.sg/open-data-license
  2. https://beta.data.gov.sg/collections/189/datasets/d_ebc5ab87086db484f88045b47411ebc5/view
• Geodata made available by SG government through the OneMap
  1. https://www.onemap.gov.sg/apidocs/apidocs
• I claim NO rights whatsoever to this data. This data has been uploaded here for educational purposes.
• There is no personally identifiable information in this data.

Data Availability

• 1990 - 02-2012 (based on registration date)
• 03-2012 - 2023-09 (based on approval date)

Contains resale prices only because most of Singapore's population lives in (very well-made and maintained!) public housing.

Does not contain condo/landed house prices.

Special Notes

• Public housing in Singapore is generally sold on a leasehold (typically 99-year) basis.
• Prices tend to decrease as the remaining lease period decreases (see Bala's Curve).

Data Representation

Each row represents 1 transaction.

Data Dictionary

Update Frequency

• This dataset may be updated every year or so as new transaction data becomes available.

Content

Notes:

The approximate floor area includes any recess area purchased, space adding item under HDB’s upgrading programmes, roof terrace, etc.

The transactions exclude resale transactions that may not reflect the full market price such as resale between relatives and resale of part shares.

Resale prices should be taken as indicative only as the resale prices agreed between buyers and sellers are dependent on many factors.

"Remaining lease" is the number of years, months and days left before the lease expires. This information is computed as at the resale flat application and has been rounded up to the nearest month for the purpose of CPF monies usage and HDB loan application.

Acknowledgements

All data is from https://data.gov.sg/dataset/resale-flat-prices

Inspiration

Discover trends in resale prices, or whatever.

Net-Interest-Income Time Series for China-Singapore Suzhou Industrial Park Development Group Co Ltd. China-Singapore Suzhou Industrial Park Development Group Co., Ltd. engages in the investment, construction, development, and operation of real estate properties in China. The company develops industrial parks and scientific research carriers; leases commercial properties; rents apartments; and provides property and project management services. It also involved in the hotels and hotel-style apartment management, industrial investment, municipal engineering construction, municipal utilities, and photovoltaic power station development, develop operational business; and provides consulting services. China-Singapore Suzhou Industrial Park Development Group Co., Ltd. was founded in 1994 and is based in Suzhou, China.

Property-Plant-and-Equipment-Gross Time Series for Suntec Real Estate Investment Trust. Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore's largest integrated commercial development (including one of Singapore's largest shopping mall), a 66.3% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay and a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall. Suntec REIT holds a 100% interest in a commercial building located at 177 Pacific Highway, Sydney, a 100% interest in a commercial building located at 21 Harris Street, Pyrmont, Sydney, a 50.0% interest in Southgate Complex, Melbourne, a 50.0% interest in a commercial building located at Olderfleet 477 Collins Street, Melbourne and a 100% interest in a commercial building located at 55 Currie Street, Adelaide, Australia. Suntec REIT also holds a 50.0% interest in Nova Properties and a 100% interest in The Minster Building both located in London, United Kingdom. Suntec REIT is managed by an external manager, ESR Trust Management (Suntec) Limited (formerly known as ARA Trust Management (Suntec) Limited).

Stock Price Time Series for METRO HOLDINGS LIMITED. Metro Holdings Limited engages in the retail, and property development and investment businesses in Singapore, the People's Republic of China, Indonesia, the United Kingdom, and Australia. The company operates in two segments, Property and Retail. It leases shopping and office spaces, as well as invests in property-related investments; and retails and operates department stores. The company also develops and operates urban mixed-use communities and residential properties, as well as commercial, malls/retail centers, student accommodation, and logistics and industrial properties. Metro Holdings Limited was founded in 1957 and is headquartered in Singapore.

Stock Price Time Series for Frasers Logistics & Industrial. Frasers Logistics & Commercial Trust ("FLCT") is a Singapore-listed real estate investment trust with a portfolio comprising 114 industrial and commercial properties, worth approximately S$6.8 billion, diversified across five major developed markets " Australia, Germany, Singapore, the United Kingdom and the Netherlands. FLCT was listed on the Mainboard of Singapore Exchange Securities Trading Limited ("SGX-ST") on 20 June 2016 as Frasers Logistics & Industrial Trust and was subsequently renamed Frasers Logistics & Commercial Trust on 29 April 2020 following the completion of a merger with Frasers Commercial Trust. FLCT's investment strategy is to invest globally in a diversified portfolio of income-producing properties used predominantly for logistics or industrial purposes located globally, or commercial purposes (comprising primarily CBD office space) or business park purposes (comprising primarily non-CBD office space and/or research and development space) located in the Asia-Pacific region or in Europe (including the United Kingdom). FLCT is sponsored by Frasers Property Limited. FLCT is a constituent of the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index), Straits Times Index and Global Property Research (GPR) 250.