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Thu 29 Nov 2018 – 5:50
Singapore
The Singapore real estate investment market is ranked second in the Asia-Pacific region by a real estate forecast jointly published by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).
This is due to a large number of major transactions in offices over the last 12 months, with domestic investors being the biggest buyers, ULI and PwC said in a joint statement Wednesday.
The forecast report titled "New Real Estate Trends in Asia Pacific 2019" listed the five major investment and development markets of the Asia-Pacific region in 2019, namely Melbourne, Singapore, Sydney, Tokyo and Osaka.
He also said Singapore continued to rebound after cyclical lows a few years ago, moving to second place after third place last year. Office rents have risen sharply due to a lack of supply and demand from tenants, while coworking operators and other operators of flexible workspaces now count among the biggest lessors of premises.
"The improved office market in Singapore has seen the city fully reiterated by respondents, after falling to 21st place in our 2017 report," said Pauline Oh, executive director of ULI Singapore.
Yeow Chee Keong, leader of real estate and hospitality at PwC Singapore, added: "The pro-business environment (of Singapore) and the growth of crowds data have also made the Republic one of the most attractive markets for data centers, an asset class alternative higher returns. "
Singapore's residential market remains resilient despite the cooling measures put in place for several years, while strong economic growth and high visitor numbers have supported rents and yields for prime locations. The logistics market continues to face a drop in rents caused by oversupply, although there are signs that space is being taken and that rents are expected to fall. slightly improve next year.
The report identifies trends, including investor interest in value-added games, or upgraded assets with more flexibility, a better user experience, and improvements in design and technology. Logistics facilities are still an investment of choice and more and more developers are using cohabitation to condition more people in smaller areas. Capital flows remain strong and robust outflows are expected to continue, with Japan's new reserves likely entering the mix in 2019.
The Emerging Trends report is based on the opinions of 350 real estate professionals, including investors, developers, representatives of real estate companies, lenders, brokers and consultants. It offers a perspective on investment and development trends in real estate in Asia-Pacific, real estate finance and capital markets, as well as trends by real estate sector and metropolitan area; and is being released at a series of events across Asia over the next few weeks.
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