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Singapore Figures Q2 2022

July 13, 2022

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  • Office: The pace for rental growth in Core CBD (Grade A) accelerated to 3.2% q-o-q in Q2 2022. This was also the fastest pace of increase since the recovery in Q2 2021.
  • Business Parks: Occupier interest for business parks was relatively steady, though overall leasing demand was capped by tight occupancies in the City Fringe submarket.
  • Retail: Leasing activity remained stable in Q2 2022, with islandwide retail rents stabilising for the third consecutive quarter.
  • Residential: Following the lull period in Q1 2022, sales volumes in Q2 2022 saw an uptick as developers rolled out more new homes. Q2 2022 preliminary figures show that 2,370 new homes were sold, picking up from 1,825 units sold in Q1 2022.
  • Industrial: Strong demand was capped by the lack of available space, particularly in the prime logistics segment.
  • Investment: Preliminary real estate investment volumes in Singapore for Q2 2022 declined 11.3% q-o-q to $9.024 bn. This brought H1 2022 investment volumes to $19.193 bn, a 56.4% increase y-o-y.