Singapore Real Estate Market Sizing Approach and Market Limitations
Market Sizing Approach
Initially, we have compiled a list of prominent companies in real estate industry in Singapore and have approached the management of these companies including business development manager, sales and marketing head, procurement managers and others to understand the revenues, their growth, distribution networks, profit margins, concentration by geography and industry verticals.
Data and Information is available on reports from, UBS, Coliers, Knight and Frank and websites of statistical department and ministries. The data is collated, sanity check of the information is done by confirming it with various industry experts and seeks justification for such numbers. Reference was taken form the annual report, company websites (country based) and press release to gain some insights about company performance.
Our team then collated the data shared by the industry experts belonging to these companies and extrapolated on the basis of the market share, pricing and rental and buildings constructed and also re-checked it with the data available in secondary sources and proprietary databases.
We have conducted multiple CATIs with industry experts and management of various real estate related companies in Singapore to understand their business models, major applications, revenue stream, product portfolio and other market parameters. This helped us in estimating revenue generated in the Singapore real estate market.
Market Limitations
There might be a case that the chief executives / representatives / dealers might be bullish with the numbers. We have cross checked and revalidated the data, collected with our hypothesis and question them on the numbers. But in the end, justification provided by a primary might / might not be satisfactory on the numbers as there is no right mechanism to revalidate their numbers. Henceforth in this scenario, the team has applied a discounting factor to the numbers decided through interviews conducted from other industry representatives since it appeared bullish to our logical thought process.
The market size, segmentation and market share have been computed by taking the maximum retail price, the discounts and other deductions by builders, brokers and others are not considered in this study.
Since the competition between builders in the industry is high, key management executives of builders and brokers have not divulged margins of different revenue streams. Several key decision makers from these companies were contacted but they were unwilling to provide such confidential details.
Future growth model has been built on the basis of future developments and opinions received from key industry veterans of the market followed by subjective analysis with margin of error not more than 10%.
Singapore Real Estate Market Overview and Genesis
Economic Overview
Residential building value grew at a CAGR of ~% and non residential building at ~% during the period FY’2013-FY’2018. The GDP of Singapore, in real terms, grew at ~% as on January 2019. Wages (excluding bonuses) in the country grew at CAGR of ~% during the period FY’2013-FY’2018.
Bank lending rates have declined at a CAGR of ~% during the period FY’2012-FY’2017. On the other hand, current lending rate is ~% in the year 2017.
Recent Developments in the Industry
There is a growing trend amongst developers to move towards integrated or mixed development. As a result residential and commercial spaces form part of the same space. It is also leading to better utilization of land in a few land scarce areas where demand for commercial and residential spaces is equally high.
Singapore Residential Real Estate Market New sales, 2016-2018
Despite the cooling measures and uncertain external environment, prices for private residential properties continued to increase during 2018. The sales of condominium property halved from SGD ~ billion in 2016 to SGD ~billion in the year 2018 whereas on the other hand apartment sales more than doubled from SGD ~ billion in 2016 to SGD ~billion in 2018. By leasing type, majority of the new property sales in Singapore had a ~years lease generating a revenue of over SGD ~ billion in 2018.
Singapore Residential Real Estate Market Sub-Sales, 2016-2018
Sub-sales within Singapore residential real estate market was witnessed to decrease year on year during the review period 2016-2018. The introduction of Seller’s Stamp Duty (SSD) and two rounds of Additional Buyer’s Stamp Duty ABSD) effectively increased a short-term speculator’s transaction costs by as much as ~% which has led to continuous decrease in sub-sale volumes for years now.
Key Segments Covered:-
Singapore Residential Real Estate Market
By Type of Dwelling
HDB Dwellings
Condoniums and Other Apartments
Landed Properties
Other Types of Dwellings
By Type of Sale
New Sale
Re-Sale
Sub-Sale
Singapore Retail Real Estate Market
By Private and Public Retail Space
Singapore Office Real Estate Market
By Private and Public Office Space
Singapore Hotel Real Estate Market
By Gazetted and Non-Gazetted Hotels
Key Target Audience:-
Real Estate Developers
Independent Investors
Real Estate Consulting Companies
Third Party Real Estate Companies
Independent Architects
Government Associations
Government Agencies
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023
Major Companies Covered:-
CapitaLand
Frasers Property Ltd
UOL Group
City Developments
APAC Realty
Chip Eng Sen
Roxy-Pacific Holdings
Other Players (Frasers Property Ltd. and City Development Ltd.)
Key Topics Covered in this report:-
Singapore Real Estate Market
Real Estate Industry In Singapore
Singapore Real Estate Market Growth
Singapore Real Estate Industry
Singapore Residential Real Estate Market
Singapore Retail Real Estate Market
Singapore Office Real Estate Market
Residential Supply Singapore
Singapore Property Price Market
En-Bloc Sales Market Singapore
Retail Real Estate Rents Singapore
Upcoming Retail Projects Singapore
Types Of Office Spaces Singapore
Singapore Capitaland Real Estate Market
For more information on the research report, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
