Industry News

The AIA Longevity Study has revealed that over half of Singaporeans (51%) perceive living longer as a concern rather than an opportunity, with 53% expressing uncertainty about ageing. Despite understanding the importance of health, financial security, and purpose in ageing well, many Singaporeans are unprepared, particularly in financial planning and long-term care.

The study found a significant 10-year gap between expected lifespan and healthspan, with Singaporeans anticipating living to 80.2 years but expecting health decline from 70.2 years. This gap is a source of anxiety, especially among younger Singaporeans. Irma Hadikusuma, Chief Marketing and Healthcare Officer at AIA Singapore, stated, “The challenge of longevity is no longer simply living longer, but ensuring those additional years are healthy, financially secure, independent, and purposeful.”

Financial preparedness emerged as the weakest area, with 61% worried about depleting retirement savings. Although 87% acknowledge the necessity of financial security for ageing well, only 33% regularly review their financial plans. Furthermore, only 19% have started planning for long-term care, with many relying on government schemes.

The study suggests that Singaporeans are delaying health investments, with many adopting preventive health measures only after experiencing ageing effects. Hadikusuma emphasised the need for a broader support ecosystem, involving healthcare providers, employers, and community partners, to facilitate proactive ageing strategies. As life expectancy rises, addressing these gaps is crucial for maintaining health and financial resilience.

Dunearn House, the inaugural private residential development within the Bukit Timah Turf City masterplan, has seen a successful launch, with 56% of its units sold over the first weekend. Frasers Property, CSC Land Group, and Sekisui House reported that 212 of the 380 units were purchased at an average price of S$3,140 per square foot.

The development’s larger-format homes, particularly the three-bedroom units, have proven most popular, with all such units sold. There was also significant interest in the three-bedroom flexi, three-bedroom-plus-study, four-bedroom, and two-bedroom-plus-study units. This trend highlights a strong demand for spacious, flexible homes among owner-occupiers.

Approximately 86% of buyers are Singaporeans, whilst 13% are permanent residents from countries including China, Indonesia, and Malaysia. The remaining 1% are foreigners from the US. The development’s prime location in District 11, near schools and amenities, alongside its connectivity to MRT stations, has been a major draw for buyers.

Prices for Dunearn House start at S$1.475m for a two-bedroom unit, S$2.597m for a three-bedroom unit, and S$3.588m for a four-bedroom unit. The development is positioned as the tallest residential building in the area, offering views over the Good Class Bungalow enclaves and surrounding greenery.

Frasers Property’s CEO, Soon Su Lin, expressed satisfaction with the launch, noting the confidence buyers have in the well-located and thoughtfully designed homes. The development is set to become a benchmark for future homes in the evolving Bukit Timah Turf City precinct.

The Singapore property market demonstrated remarkable resilience in the second quarter of 2026, maintaining robust transaction volumes and price momentum despite geopolitical tensions arising from the US-Iran conflict. According to Huttons, this confidence was supported by strong macroeconomic fundamentals, including an estimated 5.7% GDP growth and a low unemployment rate of 2% as of March 2026.

Private residential property prices increased by 0.5% quarter-on-quarter, driven primarily by the landed housing segment and the Core Central Region, which saw price gains of 2.5% and 1.8%, respectively. The transaction volume surged to 6,148 units, marking a 13.6% increase from the previous quarter and a 19.9% rise year-on-year.

Developers’ sales saw a slight decline in launch volume by 3.3% quarter-on-quarter to 1,783 units, yet this represented a 17.3% improvement year-on-year. Notably, Tengah Garden Residences emerged as the best-selling development, moving 861 units and setting a new benchmark for transaction volume.

In the resale market, transaction volume climbed 18.2% quarter-on-quarter, with prices edging up by 1.9%. The robust activity in the resale market likely constrained rental supply, leading to a 0.7% growth in rents during the quarter.

Looking ahead, the market is expected to remain buoyant, bolstered by stronger-than-expected economic growth of 6% in the first half of 2026. Several highly anticipated projects are set to launch in the third quarter, including Amberwood at Holland and Dunearn House, which are expected to sustain healthy buying demand.

Singapore has introduced an AI-enabled Workplace Safety and Health (WSH) tool to address increasingly complex workplace risks. The announcement was made at the ninth edition of The Singapore Workplace Safety and Health Conference 2026, held at Marina Bay Sands, which gathered over 1,500 policymakers, business leaders, and industry practitioners.

The conference, themed “Insight to Impact: Collective Effort for Stronger WSH Outcomes,” emphasised the shared responsibility among employers, workers, unions, and industry partners in creating safer and more resilient workplaces. The event was attended by prominent figures, including the Minister of State for Manpower, Dinesh Vasu Dash, and WSH Council Chairman, Abu Bakar Bin Mohd Nor. Representatives from major organisations such as SMRT, SATS Group, CapitaLand Investment, NTUC, SUTD, BCA, and Seatrium were also present.

The new AI tool is expected to transform how workplace safety is managed by providing insights that can be translated into practical actions. This development is crucial as workplace risks become more complex, requiring innovative solutions to ensure safety and health standards are met.

Dinesh Vasu Dash, Minister of State for Manpower, said “Singapore’s workplace safety and health progress is not a static achievement, but a continuous national effort. As we advance the WSH 2028 agenda, our focus must be on sustaining the progress we have made, strengthening support for workers, employers and WSH practitioners, and ensuring that our WSH system remains responsive to the needs of a changing economy.”

The conference highlighted the importance of collaboration in achieving stronger WSH outcomes, with the AI tool serving as a pivotal step in this direction. As Singapore continues to prioritise workplace safety, the integration of advanced technology like AI is set to play a significant role in enhancing safety measures across various industries.

The luxury non-landed property market in Singapore experienced a notable increase in activity during the second quarter of 2026, according to the latest Huttons Prestige Report. The report highlights a 6.3% quarter-on-quarter (QoQ) and a 37.7% year-on-year (YoY) rise in sales, with 84 luxury homes sold. This surge is attributed to ultra-high-net-worth individuals (UHNWIs) seeking capital preservation amidst global geopolitical tensions.

The gross sales value of luxury non-landed homes reached $728.1 million, marking an 8.9% QoQ and a 28.6% YoY increase. The super-luxury tier, comprising units priced at $10 million and above, saw 24 transactions—a 33.3% QoQ and a 71.4% YoY rise. Mark Yip, CEO of Huttons Asia, noted the robust capital deployment into prime assets by high-net-worth buyers.

Leasing activity also accelerated, with rental volumes increasing by 13.3% QoQ and 9.7% YoY, despite a decline in prime rental rates by 4.3% QoQ and 3.8% YoY. This indicates a tenant-led market with more realistic lease pricing.

In the Good Class Bungalow (GCB) market, 15 deals were recorded in the first half of 2026, slightly up from 13 in the same period last year. The total transacted value of GCBs was $615.1 million, 39.3% higher than the first half of 2025.

Singapore continues to strengthen its position as a premier wealth management hub, with initiatives to streamline private banking processes and attract foreign capital, ensuring sustained growth in the high-end residential sector.

The Housing Development Board (HDB) resale market in Singapore is experiencing a downturn, with prices dipping by 0.3% in the second quarter of 2026, according to Realion (OrangeTee & ETC) Group’s analysis. This marks the second consecutive quarter of price declines, attributed to intense competition from the Build-To-Order (BTO) market, macroeconomic uncertainties, and a weaker hiring outlook.

Resale volumes showed a slight quarter-on-quarter increase of 1.8%, rising from 6,285 units in Q1 2026 to 6,396 units in Q2 2026. Despite this, the year-on-year figures reveal a 9.9% drop, reflecting a weaker market compared to the previous year. Christine Sun, Chief Researcher & Strategist at Realion, noted, “Volumes fell across most flat types, except for 1-room flats.”

The HDB rental market, however, saw a 4.9% increase in approved rental applications, reaching 10,002 units in Q2 2026. This rise is attributed to seasonal demand as tenants return from spring breaks or renew leases before the academic year begins for some international schools.

Looking ahead, the HDB resale market may continue to face challenges. The launch of nearly 8,000 new flats in October across various locations, including Bedok and Yishun, is expected to increase competition and exert downward pressure on resale prices. Overall, HDB resale prices are projected to trend between -1% and 2% for the entirety of 2026, as the market grapples with economic uncertainties and a shifting job landscape.

The latest UOB ASEAN Consumer Sentiment Index shows that consumer confidence across ASEAN remains resilient in 2026, despite ongoing geopolitical tensions and rising oil prices. Singapore recorded the strongest improvement in the region, with its index climbing nine points to 56. This surge was driven by positive perceptions of both the current and future economic conditions, supported by government measures to alleviate cost-of-living pressures.

The index, which measures consumer sentiment across six key indicators, remained steady at 54 for the region. Vietnam, despite a four-point decline, remains the most optimistic market with an index of 63. Thailand also saw a rise, with its index increasing by four points to 51, buoyed by government stimulus measures and a robust tourism sector.

Suan Teck Kin, Head of Research at UOB, noted, “ASEAN-5 economies remained resilient in the first half of 2026, with Singapore and Thailand outperforming expectations.” He highlighted that ASEAN continues to attract multinational corporations, supporting employment growth and economic opportunities.

Conversely, Malaysia’s index eased to 50, reflecting concerns over household expenses and income security. Indonesia experienced a decline, with its index dropping to 49 from 55 the previous year.

The report underscores the varying economic conditions and consumer priorities across the region, with Singapore and Thailand’s strong performance helping to offset softer sentiment elsewhere. As ASEAN remains a compelling investment destination, consumer confidence is expected to continue playing a crucial role in the region’s economic landscape.

Ropedia, a Singapore-based startup specialising in data infrastructure for physical AI, has successfully raised S$38.7m (US$30m) in its Pre-Series A funding round. The company plans to utilise this capital to expand its data collection efforts into Southeast Asia and North America, enhance its US team, and increase the manufacturing of wearable capture hardware to support larger fleet deployments.

The funding comes at a pivotal time as venture capital interest in AI, particularly in physical AI and embodied intelligence, continues to grow across Asia. According to a KPMG report, Asia is rapidly becoming a leading region for investment in AI infrastructure, with the Asia-Pacific region accounting for half of the deals in embodied AI during the first half of 2026.

Ropedia’s expansion plans align with the broader trend of increasing investment in robotics and AI technologies. The company aims to position itself at the forefront of this movement by focusing on data collection and infrastructure, which are seen as critical components in the race to advance robotics.

The startup’s recent funding round underscores the growing importance of data over hardware in determining the future leaders in the robotics sector. As Ropedia continues to expand its operations, it is poised to play a significant role in shaping the landscape of physical AI both regionally and globally.

HSBC Group has announced the sale of its life and health insurance business in Singapore, HSBC Life (Singapore) Pte. Limited, to Allianz for S$2.7b (US$2.1b). The transaction is expected to be completed in the first half of 2027, pending regulatory approval. This move will result in a pre-tax gain of US$1.8b for HSBC and is anticipated to boost the Group’s Common Equity Tier 1 (CET1) ratio by up to 15 basis points.

Upon completion, HSBC and Allianz will enter into a 15-year exclusive bancassurance distribution agreement. This partnership will allow HSBC to continue offering top-tier insurance products to its Singaporean customers. As part of the agreement, HSBC will receive an initial lump sum cash payment of S$0.2b.

Despite the sale, HSBC reaffirms its commitment to Singapore as a key international wealth and wholesale banking hub. Singapore ranks as a priority market and is the fifth-largest contributor to HSBC’s Group profit before tax. It also serves as the primary wholesale offshore booking centre and wealth hub in the ASEAN region. HSBC is set to continue investing in its capabilities, including doubling its technology expenditure over five years and significantly increasing its investment in the physical network, with four new Wealth Centres opened since 2024.

This strategic move underscores HSBC’s focus on enhancing its wealth management and banking services in Singapore, aligning with its broader regional objectives.

ESR-REIT Management (S) Limited has announced the acquisition of a 100% interest in a freehold logistics property at 18 Foxley Court, Derrimut, Melbourne. The purchase, valued at A$52.5m, is part of ESR-REIT’s strategic expansion in the Australian logistics market.

The newly acquired property, 18 Foxley Court, is an institutional-grade asset boasting a gross lettable area of 23,229 square metres and a building age of approximately nine years. It is fully occupied with a weighted average lease expiry of 4.8 years, offering a first-year net property income yield of 5.7%.

This acquisition complements ESR-REIT’s earlier purchase of five logistics properties in Melbourne, announced on 7 July 2026. Collectively, these acquisitions form a portfolio of six properties, strategically located within Melbourne’s industrial precincts, known for their connectivity and proximity to major transport infrastructure.

The Manager of ESR-REIT highlighted the acquisition’s alignment with their Total Return Strategy, aiming to drive sustainable returns through high-quality, modern logistics assets. The acquisition is expected to be distribution per unit (DPU) accretive, enhancing income quality and providing potential for future growth.

With this move, ESR-REIT continues to leverage its strong Singapore base to capitalise on acquisition opportunities in Australia, maintaining a focus on prudent leverage and disciplined capital management. The completion of the acquisition is anticipated in the third quarter of 2026.