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{"id":2844,"date":"2022-01-15T12:00:42","date_gmt":"2022-01-15T04:00:42","guid":{"rendered":"https:\/\/stevensoh.com\/?p=2844"},"modified":"2022-04-19T17:36:39","modified_gmt":"2022-04-19T09:36:39","slug":"propnex-q4-2021-commercial-report","status":"publish","type":"post","link":"https:\/\/stevensoh.com\/propnex-q4-2021-commercial-report\/","title":{"rendered":"Propnex Q4 2021 Commercial Report"},"content":{"rendered":"\t\t
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about steven<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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contact us<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Propnex Q4 2021 Commercial Report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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By Steven Soh<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Office Property Q4 2021<\/strong>
Overview<\/span><\/em>
In Q4 2021, Singapore\u2019s economy continued to
grow strongly amid improving global and trade
outlook. Based on advance GDP estimates, the
Singapore economy grew strongly by 5.9% YOY
and 2.6% QOQ in Q4 2021. Based on these
estimates, the economy has grown by 7.2% for
the full year, according to the Ministry of Trade
and Industry (MTI). The economy is projected to
grow by 3% to 5% in 2022.
The office property market ended the year on a
strong note with several big-ticket deals inked
during the quarter. Market observations suggest
that demand for office space is expected to
remain buoyant with a number of businesses
looking to expand against a backdrop of the
global economic recovery and limited
availability of prime office space.
Rentals are expected to grow at a faster pace in
2022, which could further pique the interest of
investors in Singapore’s prime office assets and
drive capital value. The economic expansion
along with Singapore\u2019s commitment towards the
reopening of its economy and its borders, will
boost the office market\u2019s investment and
occupier demand in 2022.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Industrial Property Q4 2021<\/strong>
Overview<\/em><\/span>
Despite the slight slowdown in Q4 2021, the
industrial property market has had an
exceptional year in terms of price growth and
leasing activity, against the backdrop of the
recovering economy.
Based on advance estimates, the Singapore
economy grew for the fourth straight quarter,
rising by 5.9% YOY in Q4 2021. In 2021, Singapore\u2019s
GDP grew by 7.2%, according to the Ministry of
Trade and Industry (MTI). The manufacturing
sector led the growth in Q4 2021, expanding by
14% YOY. Growth during the quarter was
supported by output expansions in all clusters.
In addition, the recent strong non-oil domestic
exports (NODX) performance and continued
expansion Singapore\u2019s manufacturing
Purchasing Managers\u2019 Index (PMI) suggest that
the manufacturing and export environment had
been key pillars of growth in Q4 2021.
Singapore\u2019s economy is projected to grow by 3%
to 5% in 2022. Downside risks to watch will
include global monetary policy tightening,
potential emergence of new virus variants and
China\u2019s economic slowdown.
JTC noted that any rise in occupancy rates of
industrial spaces are likely to be moderated by
new completions in 2022, although some delays
are still expected in completions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Recent Posts<\/h5>\n\t\t