Singapore Market Outlook 2020

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The Singapore real estate market is expected to retain its lustre this year, against a backdrop of a relatively more positive economic outlook in Singapore.

Real estate investors should continue to look favourably to Singapore, with low global interest rates benign growth and a strategic asset allocation strategy. Broadly, Colliers Research expects total investment sales to increase by 6% year-on-year (YOY) to S$31.3 billion in 2020, given the strong interest in Singapore real estate, especially in the commercial property sector.
 
In 2020, Colliers expects the office, hotel and residential property sectors to post mild growth. The industrial and retail property sectors should continue to stabilise, but will still remain fragile given near-term risks.
 
Download this Radar report on the outlook of Singapore's real estate market, as we share deeper insights into the trends of the hotel, office, retail, residential and industrial property sectors in Singapore and share recommendations for investors and developers on the opportunities to leverage on. 

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Singapore Market Outlook 2020

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Related Experts

Tricia Song

Director and Head

Singapore

Tricia Song is a Director and the Head of Research at Colliers International Singapore. Ms Song brings with her more than 13 years of experience in real estate equity research and capital markets in Singapore and ASEAN. Before Colliers, she was the lead analyst for the Singapore Real Estate and REITs sector at Equity research at Barclays Bank PLC and before that at Credit Suisse, HSBC, CIMB-GK, and UOB KayHian. She was the lead analyst on various IPO pre-deals such as Ananda Development, iREIT Global and CapitaMalls Asia.

She also has prior experience in private equity, working on M&A deals in Asia Pacific at Newbridge Capital. Ms Song graduated with a Bachelor of Business Studies (Honours) degree from Nanyang Technological University, Singapore.

 

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Rick Thomas

Executive Director

Singapore

As Executive Director of Occupier Services in Singapore, I have  over 20 years of experience in commercial real estate.  Based in Singapore, my responsibilities are focused on servicing the real estate needs of large multinational occupiers clients across Asia Pacific than span office leasing, industrial leasing and project management.

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Govinda Singh

Executive Director

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Govinda, a member of RICS and registered valuer, is a chartered certified accountant with a postgraduate diploma in economics and a certificate in business valuations, who began his career at Pricewaterhouse in audit and tax advisory.

Having worked as an Operations Manager for Hilton, he was the Financial Controller at the luxury Lanesborough Hotel, at which time he worked closely with the Rosewood and Starwood hotel groups at both the local and corporate level.

Govinda joined PKF in London in 2005 where he was a Managing Consultant within the Hotels and Leisure Valuation and Consulting  practice. He subsequently joined BDO’s Real Estate Valuation and Consulting  team in 2012, where he was a Director responsible for the EMEA, Caribbean and Asia-Pac regions.

Govinda joined Cushman & Wakefield Singapore in 2015 where he was a Director within the Asia-Pac Valuation and Advisory team.

He is now an Executive Director at Colliers International advising on, and valuing investments involving mixed-use, specialist and alternative asset classes across Asia and further afield.

He is also one of Colliers’ dedicated specialist portfolio advisors and valuers in the region, and globally.

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Jerome Wright

Senior Director

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Colliers Singapore, Senior Director and Team Leader of CMIS - Capital Markets. As the head of Capital Markets and Investment Services for Commercial, Jerome provides strategic investment advisory and brokerage services to clients, focusing on investment-grade properties. He delivers clients so that they can maximise all real estate investment opportunities in Singapore

Jerome has over 15 years of real estate experience in the field of corporate commercial investment & leasing in Singapore, and the UK. MRICS and CEA qualified, I have extensive transactional and mediation experience acquired principally in the Singapore market advising both investor/developer clients and occupier clients. Prior to joining Colliers, Jerome was Director, Commercial Leasing at an international real estate agency firm where he oversaw large projects, providing blue chip corporate clients with strategic advice to fulfill their real estate needs in Singapore.

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WeiLeng Tang

Managing Director

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I am the Managing Director of Colliers in Singapore.  I am responsible for the growth strategy and direction of the business. We are an enterprising real estate service solutions provider – we are a team of experts advising our clients on their business space requirements, to their property investment choices and decisions, managing and driving their asset performance, as well as advising and valuing their assets.  

My expertise is Capital Markets. I have a wealth of experience in selling buildings, hotels and development land for nearly 30 years. Headhunted from government service, I sold my first office building at 20 Malacca Street at Raffles Place barely one year into my new role. That same relentlessness saw me through many more deals, some bigger others smaller.  I have developed a great network and invested in strong relationships over the years. People very often ask me, what drives you?  That inexplicable joy I see on my clients’ face when I close a deal!

These trusted relationships allowed me to successfully entered into joint ventures with both Capitaland and City Developments Limited (CDL) during my stint on the buy side with Wells Fargo (then Wachovia Real Estate).

Taking on Singapore’s leadership role is a significant career progression for me.  Together with my team of experts, we have multiply our profitability six-folds since 2016. We continue to collaborate with our colleagues across markets to deliver strong results for our shareholders. One of my key focus is to accelerate the success of our people. I mentor, nurture and help them become experts, and I like to see the next generation of leaders emerge amongst them. Having three daughters that are coming of age, I understand my people’s aspirations.

Colliers has given me tremendous space to accelerate my success and I like to accelerate yours too. Connect with me!

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