Capital Markets

Q1 2023 Singapore Figures report provides the latest commentary and data on net absorption, rents, vacancy, supply and other key metrics in Singapore's office, business parks, retail, residential and industrial markets, along with an analysis of real estate investment activity.

Executive Summary:

• Office: The strong momentum amongst the office sector began to show signs of moderation as uncertainties within the tech and banking sectors grew.

• Business Parks: Rental increase for City Fringe took a pause as rents remained flat for the first time after seven consecutive quarters of increase. Rents for Rest of Island also remained flat in Q1 2023.

• Retail: Prime retail rents for all submarkets continued to rise in Q1 2023, buoyed by the recovery of the Orchard Road, City Hall/Marina Centre and Fringe areas and the resilience of the suburban market.

• Residential: Private home price growth saw an uptick amid low transaction volumes.

• Industrial: Amid strong competition for storage space in modern ramp-up developments, prime logistics saw the strongest rental growth of 3.7% q-o-q in Q1 2023.

• Investment: Preliminary real estate investment volumes in Singapore for Q1 2023 surged by 73.0% q-o-q (but down 40.9% y-o-y) to $6.068 bn, mainly on the large-ticket retail asset divestments by Mercatus.

This report was originally published in https://www.cbre.com.sg/insights/figures/singapore-figures-q1-2023

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Q4 2022 Singapore Figures report provides the latest commentary and data on net absorption, rents, vacancy, supply and other key metrics in Singapore's office, business parks, retail, residential and industrial markets, along with an analysis of real estate investment activity.

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CHINA

“The year got off to a challenging start in China with a slowing economy and continued debt crisis exacerbated by lockdowns. Liquidity crunches may force developers to accelerate disposals at discounted rates while interest rate cuts and reduced quarantine periods should make investments more attractive.” – James Macdonald, China

HONG KONG

“In Hong Kong investment sentiment has stabilised as the local epidemic situation has improved but plenty of caution remains. Investors are keen to look for value-add strategies including redevelopment and conversion.” – Simon Smith, Hong Kong

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Savills Asia Pacific Real Estate Investment Country Guide covers 13 countries around the region including:

• China
• Hong Kong
• India
• Indonesia
• Japan
• Malaysia
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• UK
• US

This report was originally published in https://www.savills.com.hk/research_articles/167189/207024-0

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