PROPERTY 2023

A shifting landscape

Michelle Low
Published Thu, Sep 28, 2023 · 05:01 AM

Markets coming off highs are always tricky to negotiate for buyers and sellers, landlords and tenants. In this edition of The Business Times’ Property Supplement, we weigh how various forces and shifting sands are pulling on market dynamics, and highlight hotspots existing and emerging.

Much has been made of how foreign buying has evaporated from Singapore’s prime residential market. Yet most of the high-end sector is held up by local buyers. Is there room at the top for gains down the road? Residential rentals are expected to ease after the surges of the past two years. Tenants could soon see some relief, but as demand decants, certain segments will hold on to strength for landlords.

Landed housing showed hefty gains in the recent past which are now moderating. Aside from the oft-cited rise in new wealth and overall higher land prices, there is one other key factor behind the rise and rise of house values. Find out what’s fuelled the market.

In mass market condos, higher prices, duties and lending limits have eroded buying power. How developers - and the government - shape pricing and supply will be key to market stability. The public-private middle ground where executive condominiums sit is already emerging as the in-demand market to home in on. And a new public housing framework could prompt changes in buying behaviour.

By 2030, Singapore will be a “super-aged” society, with 1 in 4 residents aged 65 and over. This means big opportunities have opened up in an untapped area of affluent seniors looking to age with dignity.

Family offices are setting up shop in Singapore in record numbers. In what sectors, and where, are these high-net-worth investors looking to park their wealth? The sharply higher stamp duties on residential purchases have also led Singapore investors to look outside for returns. We find out which overseas markets are catching attention.

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Is the office sector - very much tied to economic growth - turning a corner? Strata-titled office space, meanwhile, is having a moment. We look at prospects for this niche segment. And find out why industrial property is a bright spot in Singapore’s real estate landscape.

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