Your search results

NUS Real Estate Survey Reveals Growing Optimism Among Industry Leaders

Posted by Jayson Ang on January 17, 2025

| 0

TLDR

A recent survey by the National University of Singapore (NUS) highlights increasing optimism among real estate industry leaders. The findings reveal a positive outlook for market growth, driven by factors such as economic recovery and favorable government policies. Industry experts express confidence in continued demand for residential and commercial properties, with a focus on sustainable development and technological advancements.

In the midst of the lively activity in the local real estate market, a recent survey shows a positive outlook as top executives from real estate companies anticipate a favorable upturn. The National University of Singapore’s Real Estate Sentiment Index (RESI) indicates that the first quarter of the year experienced an increase in both current and future sentiments, suggesting a possible recovery following a slow end to 2023. With a stable economy and positive macroeconomic indicators in the background, experts in the industry forecast a consistent growth path in the upcoming months.

The robust Singapore dollar has played a significant role in reducing inflation. In March, core inflation decreased from 3.6% to 3.1% year-on-year, while headline inflation dropped to 2.7% from February’s 3.4%.

One of the survey participants credited this positive trend to the financial stability of households and the low unemployment rate, which are expected to continue supporting demand and prices in the housing market.

The National University of Singapore (NUS) reported an impressive 8.9% increase in households’ net worth, reaching $2.80 trillion in 2023, with the unemployment rate holding steady at 2%. This aligns with the decrease in retrenchment rates in the first quarter of 2024.

The sentiment towards the local hotel and serviced apartment segment remains very positive among real estate industry leaders, followed by a relatively optimistic outlook on the suburban retail sector. However, respondents were less confident about the performance of the prime residential market.

Moreover, most respondents (73.5%) in the first quarter of 2024 survey identified a potential slowdown or decline in the global economy as the top risk that could negatively impact sentiments in the next six months. This marks a significant decrease from 90% in the previous quarter of 2023.

“A strong economic recovery is essential for the health of the property market. Concerns also exist regarding a possible oversupply of residential apartments, as the government has increased the supply of Government Land Sale (GLS) sites in recent quarters. The potential implementation of cooling measures is always a consideration,” emphasized a survey participant.

Approximately 29.4% of respondents expressed concerns about the increase in development land supply, up from 23.7% in the previous quarter.

Despite a slight decrease from the last quarter, job losses and a sluggish domestic economy maintained their position as the second biggest concern, with a worrying 55.9%. Inflation and interest rates, on the other hand, rose to 50.0% from 44.7% in 4Q2023.

Interestingly, government intervention in the market and the looming threat of a real estate price bubble were of the least concern, only registering at 11.8% and 2.9%, respectively.

Looking ahead, 22.2% of surveyed developers predict a moderate increase in unit prices for new launches in the next six months, a significant drop from 42.9% in 4Q2023. Conversely, a majority of 72.2% anticipate prices to remain stable, a stark increase from 47.6% in the previous quarter.

Only a small percentage (5.6%) foresees a decrease in unit prices.

Commenting on the situation, one respondent highlights the growing resistance of home buyers to exorbitant price points, resulting in more selective and cautious decisions. While developers may resort to delicate pricing strategies, drastic price drops are unlikely due to existing commitments to land and development costs. The overall demand and prices are expected to be supported by healthy household finances and a low unemployment rate.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Buying Tips

Selling your HDB Resale Flat in 2025 [Comprehensive Guide]

Jayson Ang – August 30, 2025 –

TLDR Selling your HDB resale flat involves a structured 14-step process. Start by registering your Intent to Sell on the...

All Blog Posts Opinion

When Should You Consider a Shorter/Longer Home Tenure?

Jayson Ang – May 8, 2023 –

TLDR Understanding the benefits of long-term home loans is crucial for financially conservative individuals in Singapore. Opting for a longer...

All Blog Posts Buying Tips

A Beginner’s Guide to Homebuying: How to Choose the Perfect Property

Jayson Ang – May 20, 2023 –

TLDR When considering property investments, understanding your motives is crucial. Factors like accessibility to amenities, remaining lease, transaction history, rentability,...

All Buying Tips Opinion Selling Tips

Singapore’s Property Jungle: A Guide to Every Development Type

Jayson Ang – October 12, 2025 –

TLDR Singapore’s real estate market features a diverse mix of property types—public HDB flats, executive condominiums, private condos, landed homes...

Mandarin Top 5

Top 5 Benefits Of Singapore’s Cooling Measures For Home Buyers

Jayson Ang – April 11, 2025 –

Singapore's real estate market has experienced rapid growth in recent years, leading to concerns about affordability and sustainability. In response,...

Mandarin Top 5

Top 5 : Best Street Art Murals in Singapore

Jayson Ang – December 17, 2024 –

Singapore, a vibrant and multicultural city-state, is not only known for its iconic landmarks and delicious cuisine but also for...

All Blog Posts Buying Tips

Are You Worried About Overpaying On Your Property? Here’s The Secret To Finding Out Its Perfect Purchase Price!

Jayson Ang – March 14, 2023 –

TLDR Understanding property valuations and their impact on mortgage loans is crucial in the Singapore real estate market. By considering...

All Blog Posts Opinion

Are We Truly Headed For A Slowdown? How Will This Affect Property Prices?

Jayson Ang – December 9, 2022 –

TLDR The pandemic-induced recession has surprisingly boosted property prices in Singapore, defying conventional economic trends. Factors like cost-push inflation, limited...

All

Mortgage Interest : The True Cost of Buying and Owning Properties in Singapore

Jayson Ang – March 16, 2023 –

TLDR When considering buying a property in Singapore, it's crucial to understand the true costs and risks involved. High monthly...

All Blog Posts Buying Tips

What’s The Difference Between An Offer To Purchase And An Option To Purchase?

Jayson Ang – May 29, 2023 –

TLDR Understanding the crucial difference between an Offer to Purchase and an Option to Purchase (OTP) is vital when buying...

All

Four Things to Avoid When Renting Out an HDB Flat

Jayson Ang – February 23, 2024 –

TLDR Renting out an HDB flat in Singapore can be a lucrative source of secondary income. Key considerations include adhering...

All Buying Tips Opinion

Executive Condos in Singapore: Have They Outgrown the “Sandwich Class” Label?

Jayson Ang – July 1, 2025 –

TLDR The Executive Condominium (EC) scheme, once intended as affordable “sandwich class” housing, is now acting more like a lottery...

All Blog Posts Buying Tips

The Quick Guide For Buying Landed Property In Singapore

Jayson Ang – January 2, 2023 –

TLDR When it comes to purchasing a landed property in Singapore, there are three main types to consider: terrace houses,...

All Buying Tips Opinion

The Integrated Living Experience: Benefits and Drawbacks of Condos Above an MRT

Jayson Ang – January 22, 2026 –

TLDR Integrated developments in Singapore combine residential units with commercial spaces and direct MRT access, offering convenience and car-free living....