Singapore MarketView Q3 2021(CBRE) 13 October 2021
Capital Markets
With economic recovery gaining traction, preliminary real estate investment volume in Singapore increased 3.3% q-o-q to $7.317 bn for Q3 2021.
Office
In Q3 2021, the Delta variant outbreak prompted a re-tightening of safe management measures. Despite the precarious situation, some positive signs were observed in Q3 2021.
Business Parks
The leasing performance of the business park market is divided into two tiers; leasing demand is concentrated within the City Fringe submarket while demand for space in the Rest of Island submarket remains subdued.
Retail
Recovery momentum for the retail market continued to be halted by retightened measures. There was recurring pressure on the submarkets that were affected by work-from-home measures and weak travel demand.
Residential
Despite heightened restrictions from end-Jul to mid-Aug 2021, market sentiment was not dampened. New home sales from Jan to Aug 2021 came to 9,265 units, 92.8% of 2020’s volume.
Industrial
On the back of improving occupancies and strong leasing activity, landlords’ rental expectations increased. Occupier activity comprised of third-party logistics, food storage and electronics.
This article was originally published in https://www.cbre.com/
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