Pandemic recovery to support swift real estate market rebound over next two years: ULI

By
/ EdgeProp Singapore
|
November 26, 2021 4:10 PM SGT
The semi-annual report by ULI examine the three-year growth prospects of Hong Kong, Singapore, Japan, and China.
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - The Urban Land Institute (ULI) forecasts swift economic recovery for the real estate markets in Hong Kong, Singapore, China, and Japan over the next three years.
Read also: Singapore has the best prospects for investment in Asia-Pacific
“The Asia Pacific real estate industry is well primed for a resurgence in 2022 and we believe it will gather further momentum in 2023. This is demonstrated by strong economic prospects supported by a likely resumption of cross-border business activities amid a more widespread re-opening of borders,” says David Faulkner, president of ULI Asia Pacific.
In its latest semi-annual Real Estate Economic Forecast report for the Asia Pacific region, the non-profit research institute says that the office occupancy rate in Singapore is likely to grow in 2022 and 2023, compared to Hong Kong, Shanghai, and Tokyo which are expected to fall slightly.
Advertisement
Office rents in Singapore could increase between 4.6% and 5% over the next two years. The office market in Singapore also leads the region with office rental returns expected to jump 9.65% in 2022 before leading with a more moderate 6.75% in 2023.
Comparatively, Hong Kong and Tokyo are expected to record office rental returns of 5.4% and 6.28% respectively in 2023, after only slight gains next year.
The logistics sector is still expected to suffer from a structural undersupply of high-quality assets. This comes amid high demand on the back of the rapid growth of the e-commerce sector. However, capitalisation rates remain robust this year with Hong Kong at 3.46%, Singapore at 6.15%, Shanghai at 5%, and Tokyo at 3.5%.
ULI also expects the retail sector to face another huge contraction this year followed possibly by a gradual recovery over the next two years as the pandemic is contained and travel restrictions are loosened. In Singapore, retail rents could increase by 1.5% in 2023.
Tags:
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Related Articles

Manufacturing slowdown to temper rental growth, but demand for high-quality industrial assets to stay resilient - EDGEPROP SINGAPORE
Property News
Manufacturing slowdown to temper rental growth, but demand for high-quality industrial assets to stay resilient
Mitsubishi Estate takes over IWG master franchise in Japan - EDGEPROP SINGAPORE
Property News
Mitsubishi Estate takes over IWG master franchise in Japan
Singapore is 8th most expensive expatriate location in the world, says ECA International - EDGEPROP SINGAPORE
Property News
Singapore is 8th most expensive expatriate location in the world, says ECA International
The Great Room opens new 21,000 sq ft Hong Kong flagship location - EDGEPROP SINGAPORE
Property News
The Great Room opens new 21,000 sq ft Hong Kong flagship location
Top Articles
1
How this ex-banker-turned-realtor does things differently
2
Nic & Wes Builders: Transforming houses
3
Frasers Property appoints new CEO of Frasers Hospitality, makes other key executive changes
4
Revised ABSD rules for upgraders, more GLS sites in OCR among PropNex’s Budget 2023 wishlist
5
Four-bedroom unit at St Thomas Suites for sale at $4.65 mil
Search Articles
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 3.0.3
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.