Singapore’s property market demonstrated resilience in 2025, with the office, retail, and residential sectors each showing unique growth patterns despite global economic uncertainties. According to CBRE Research, office rents in the Central Region experienced a modest recovery in Q4 2025, reversing previous declines, with a 0.4% quarter-on-quarter increase. This was supported by firm occupier demand and a tightening supply pipeline, as noted by Tricia Song, CBRE Head of Research, Singapore and Southeast Asia.
The office sector saw a 2.9% rise in Core CBD (Grade A) rents for the year, driven by demand from insurance, asset management, and tech firms. The Marina Bay submarket’s vacancy rate fell to 4.2% by year-end, reflecting strong demand for prime office space. However, office prices in the Central Region softened, with a 2.1% decline over the year.
In retail, the sector benefited from a recovery in tourism and consumer sentiment, with retail rents in the Central Region increasing by 0.6% in Q4 2025. The full-year growth reached 1.9%, surpassing pre-COVID-19 levels. Despite challenges such as store closures, leasing activity remained robust, particularly in the F&B and lifestyle sectors.
The residential market saw private housing prices rise by 3.3% in 2025, the slowest growth since 2020. Landed properties led the increase, whilst non-landed prices varied across segments. The rental index for private residential properties declined by 0.5% in Q4 2025, yet overall rents were up 1.9% for the year.
Looking forward, the office market is expected to become more landlord-favourable in 2026, with limited new supply and steady demand. Retailers face challenges but are supported by tourism recovery and consumer spending. The residential sector anticipates strong buying sentiment amid low interest rates and new launches.
