{"id":119925,"date":"2021-02-01T02:57:12","date_gmt":"2021-01-31T19:57:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/economic-rebound-to-lift-most-property-sectors\/"},"modified":"2021-02-02T17:51:43","modified_gmt":"2021-02-02T10:51:43","slug":"economic-rebound-to-lift-most-property-sectors","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/economic-rebound-to-lift-most-property-sectors\/","title":{"rendered":"Economic rebound to lift most property sectors"},"content":{"rendered":"


\nEconomic rebound to lift most property sectorsResidential, office and industrial sectors are expected to see the biggest economic rebound by end 2021.\u00a0
\nAn economic rebound in 2021 is expected to lift most of Singapore\u2019s property sectors to some extent, particularly the residential, office and industrial sectors.
\nThe residential property sector, for instance, is expected to post a recovery in private land sales via en bloc and collective sales this year.
\n\u201cWith strong developer sales and limited land sales in 2020, unsold private residential inventory has come off to 27,000 units, close to the 24,000 units, a trigger point for the collective sale back in 2017-2018,\u201d said Colliers International.
\nIt noted that developers\u2019 hunger for land was evident in the 15 bids received at the last residential tender site, making it the highest number of bids received since 2017.
\nRecommended article:\u00a0Need to Move In Urgently? Condos that will TOP in 2021
\nOffice rents are forecasted to expand by 5.5% towards end-2021 as vacancy shrinks to 5% from the 5.2% registered as of December 2020.
\nDemand for office space will continue to be led by the technology and the overall business recovery.
\nColliers also expect the number of investors taking advantage of the incentives provided by URA to rejuvenate the CBD to increase.
\n\u201cWith occupiers needing more flexibility in the pace, space and place of work and placing more importance on sustainability, we see scope for older and less efficient CBD stock to be redeveloped into mixed-use and greener buildings,\u201d it said.
\nOver at the industrial property market, logistics rents are forecasted to climb by 1.3% in 2021.
\nThis comes as demand for logistics warehouses and data centres have increased following accelerated e-commerce and cloud computing last year.
\nThe hotel sector, on the other hand, is expected to register its first signs of recovery by the fourth quarter of 2021.
\nSuggested read:\u00a0Should You Invest In Commercial Or Industrial Property To \u201cEscape\u201d ABSD?
\nVisitor arrivals and revenue per available room (RevPAR) are forecasted to recover to 55% and 72% of pre-COVID-19 levels, respectively, by Q4 2021.
\nWith travel restrictions remaining in place for most part of 2021, Colliers expects pent-up demand for hotels to drive a V-shaped recovery by 2023.
\n\u201cPlanned new attractions and infrastructure projects scheduled between 2021 and 2030, and the relatively tight supply pipeline underpin the sector\u2019s long-run fundamentals,\u201d it added.
\nThe retail property sector emerged as the second-worst performer in 2020, with rents in the Central Region dropping 14.7% as lockdowns and safe distancing measures affecting retailer sales.
\nWhile foot traffic and tenant sales have recovered to 60% to 97% of pre-COVID levels by end-2020, Colliers predict \u201can uneven recovery among trades, landlords to rejig tenant mix, and thus rents to remain flat with vacancy rates rising marginally to 8.9%\u201d.
\nFinally, investment sales is forecasted to increase to $29.7 million in 2021, led by the commercial sector, on a favourable interest rate outlook, healthy fundamentals as well as Singapore\u2019s status as a key gateway city.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Economic rebound to lift most property sectors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Economic rebound to lift most property sectorsResidential, office and industrial sectors are expected to see...<\/p>\n","protected":false},"author":1,"featured_media":119926,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-119925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/singapore-prime-districts.jpg?fit=810%2C421&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vch","jetpack-related-posts":[{"id":99790,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-decimated-en-bloc-sales-market\/","url_meta":{"origin":119925,"position":0},"title":"Property cooling measures decimated en bloc sales market","date":"October 11, 2018","format":false,"excerpt":"\r Two en bloc redevelopment sales worth $353 million were completed in the third quarter, way lower than the $3.8 billion registered during the previous quarter, data shows.\u00a0 Singapore\u2019s latest round of property cooling measures proved effective in cooling its red-hot collective sales market. 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