Singapore’s real estate market demonstrated resilience in 2024, with investment volumes growing by 32.5% compared to the previous year, according to Colliers’ latest report. The year saw a total investment of SGD 26.6 billion, bolstered by significant government land sales (GLS) and robust activity in the industrial and retail sectors.
The fourth quarter of 2024, however, experienced a 21.8% decline in investment volume quarter-on-quarter, totalling SGD 7.0 billion. This dip was attributed to several GLS tenders, which accounted for SGD 1.2 billion or 17.6% of the quarter’s investments. Despite this, the annual growth remained strong, reflecting sustained confidence in Singapore’s real estate assets.
Key sectors contributing to the year’s growth included industrial, residential, and retail, with industrial investments alone growing by 124.7% over 2023. “Looking ahead, 2025 offers the prospect of stability, clarity, and new deals as market conditions settle,” said Bastiaan van Beijsterveldt, Managing Director of Colliers Singapore.
For 2025, Colliers anticipates a further increase in investment sales, estimating growth between 10% and 20%, driven by increased capital flows to the region. However, high borrowing costs and a gradual decline in interest rates may temper the pace of recovery.
Catherine He, Head of Research at Colliers Singapore, noted that selective buying will dominate the market, with investors focusing on retail, industrial, and hospitality properties, alongside assets with redevelopment potential.
