Capital Markets

Investment sales volume came to $3.874 bn in Q4 2019, representing a 56.6% decline q-o-q. On a y-o-y basis, this amounts to a 2019 tally of $23.400 bn, a 30.1% decline.

 

Office

Grade A (Core CBD) rents rose for the 10th consecutive quarter. With demand levels moderating, this seems to indicate that the pace of rental increase is near its tail end.

 

Business Parks

The business park market recorded a patchy leasing performance, with most of the occupier activity focused on the City Fringe submarket. Islandwide vacancy rose marginally by 0.1% q-o-q.

 

Retail

There is growing pressure for landlords to maintain rents and occupancy for their portfolio, particularly for malls owned by institutional owners and REITs. Islandwide prime rents as tracked by CBRE Research remained stable.

 

Residential

The buying momentum for the primary private residential market continued in Q4 2019. New home sales figures reached 10,104 units for the whole of 2019, significantly exceeding the 8,795 units achieved in 2018.

 

Industrial

Singapore’s manufacturing sector exhibited some early signs of recovery in Q4 2019. Pockets of leasing demand was observed, majority being renewals with a handful of expansions.