Report | Adaptive Spaces, Creating Resilience, Evolving Workforces, Future Cities

Singapore Market Outlook 2022

January 27, 2022

Looking for a PDF of this content?


  • The office market is poised to benefit from employment gains with a broad-based economic recovery, coupled with demand from tech occupiers. Further rental growth is expected in the mid-term, supported by the rapid expansion in demand from the technology sector and limited new supply.


  • Logistics space demand will continue to be driven by growth in e-commerce and omni-channel distribution, as consumption patterns evolve with the rise in remote-working. On the back of positive leasing demand and shrinking availability, prime logistics rents will remain on the upward cycle in 2022. 


  • Retailers are likely to display a stronger appetite for expansion this year and are optimistic about the economic growth and an eventual return of tourist spending. Prime locations will remain keenly sought after, as retailers take advantage of the tenant-favored market to secure lower rents and better locations.


  • The latest round of cooling measures is set to taper the recent upward momentum in prices and transaction volumes, of which prime homes targeted at investors may take a larger hit. However, prices are unlikely to see a sharp correction due to strong economic fundamentals, low unsold inventory and high occupancies.

Capital Markets

  • Investment volumes in 2022 is expected to grow further by approximately 10%, underpinned by the liquidity-flushed global capital market and Singapore’s recovering economy.