The Singapore strata commercial market remained resilient in the first half of 2025, with Knight Frank Singapore reporting consistent sales activity in both office and retail sectors. A total of 189 strata office transactions were recorded, amounting to $510 million (S$699.6 million), mirroring the activity from the latter half of 2024. However, the average unit price saw a slight decline of 3.2% to $2,032 (S$2,787) per square foot (psf).
The Downtown Core and Rochor areas led the sales volume, with the former achieving 44 transactions valued at $344 million (S$471.7 million). Notable sales included units at 20 Collyer Quay for $67 million (S$91.8 million) and several units at 108 Robinson Road for $41 million (S$55.8 million). Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, highlighted the appeal of strata units as “boutique bite-size niche opportunities” for investors.
Freehold strata office sales saw a decrease in total sales value by 20.1% to $183 million (S$251.6 million), whilst leasehold transactions increased by 17.8% to $326 million (S$448 million). The market outlook remains cautious, yet promising, with potential new project launches like One Sophia and The Golden Mile.
In the strata retail sector, sales value rose by 35.5% to $213 million (S$292.3 million), despite a stable average unit price of $2,189 (S$3,004) psf. Freehold retail transactions increased in value by 51.8% to $123 million (S$168.8 million), whilst leasehold sales grew by 18.2% to $90 million (S$123.5 million). The retail market faces challenges from rising costs and geopolitical tensions, but opportunities for organic gentrification, such as at Fortune Centre, may drive future interest.
Knight Frank anticipates the total transaction value for strata office units could surpass $730 million (S$1 billion) by the end of 2025, whilst retail sales are projected to reach between $292 million (S$400 million) and $365 million (S$500 million).
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