Author: leahlim   |   Latest post: Fri, 5 Mar 2021, 3:01 PM


Economic rebound in 2021 expected to lift some property sectors

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SINGAPORE (EDGEPROP) - An economic rebound expected in 2021 should lift most property sectors in Singapore, in particular the residential, office and industrial sectors, says Colliers International in its market outlook report for the year. This is in line with the broader market perception, as mid-sized businesses in the city-state are also optimistic about an economic recovery over the next 12 months, according to a survey of mid-market businesses by Grant Thornton.
In the residential market, consultants expect more land sales to happen this year, with developers seeking to replenish their supply pipeline. “With strong developer sales and limited land sales in 2020, unsold inventory has come off to 27,000 units, close to the 24,000 units [that was a] trigger point for the collective sales back in 2017-2018,” says Colliers.


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