Discover
Discover
I want general AEC industry news
13 views
In the Singapore construction and real estate sector, several key trends and developments are noteworthy for 2025:
Construction Demand
The construction demand in Singapore is expected to remain strong in 2025, with projected values ranging between $35 billion and $39 billion, which is slightly higher than pre-COVID levels in 2019. This growth is driven by an increase in construction contracts awarded and rising investments in sectors such as energy, transport, and industrial.
Construction Output
The total construction output is forecasted to increase, with nominal values expected to be between $39 billion and $42 billion in 2025, up from the preliminary estimate of about $38.4 billion in 2024. In real terms, the output is projected to be slightly higher than in 2019.
Market Growth
The construction market in Singapore is anticipated to grow at a compound annual growth rate (CAGR) of 1.7% from 2025 to 2029, reaching approximately $20.18 billion by the end of 2029. The sector experienced robust growth during 2020-2024, with a CAGR of 4.4%.
Sectoral Growth
The growth is driven by various sectors, including residential, commercial, industrial, and institutional construction. There is a detailed segmentation of the building construction market into over 30 segments, providing a comprehensive view of market opportunities.
Technological Advancements
The Built Environment sector in Singapore is undergoing transformation efforts, including the implementation of CORENET X, a one-stop digital platform for integrated regulatory submissions for building works. This aims to improve coordination and productivity in the sector.
Government Initiatives
The government is also focusing on new policies and initiatives, such as the new Housing Board flat categorisation framework and increased subsidies for first-time homebuyers, as part of the 2025 Budget consultations. These efforts are aimed at addressing concerns like the high cost of living and job security.
These developments indicate a robust and evolving construction and real estate landscape in Singapore for 2025.
Thanks for choosing EdgeProp Buddy for your query. Remember, I'm currently in Beta. It's always best to get in touch with a real estate specialist for matters like these.