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In REview: 2021 Singapore Property Outlook Webinar

Colliers REview Singapore blog - Webinar Sink or Swim resilience and rebound ranking

Colliers' thought-leaders and experts sat down to discuss the importance of pivoting for both businesses and properties to tackle the future, and reveals the key indicators to watch as the market makes its recovery.


Colliers' Singapore Market Outlook 2021 report has revealed key indicators of sectors to watch for a rebound  residential, industrial and office sectors – and sectors which will not be as resilient in a post-pandemic Singapore.

In a recent webinar hosted at the end of January, Colliers' thought-leaders sat down to discuss the importance of pivoting for both businesses and properties to tackle the future.

Tricia Song, Director, Research, gives us an overview of Singapore Property Market Outlook and her comments on three key overarching themes that will shape 2021: Recovery, Sustainability and Flexibility. 

Govinda Singh, Hospitality & Leisure expects to see a V-shaped recovery for hotels by 2023, mainly due to pent-up demand as travel restrictions are looking to remain in place for the most of 2021.

Read more: Hotels: Preparing for take-off

Jonathan Denis-Jacob, Advisory and KengChiam Tan, Valuation believe that retail in its physical form will continue to maintain its relevancy, with agility driving its success ultimately. The key themes for the retail sector in 2021 will be the relevance and transformation of brick-and-mortar retail, creation of lifestyle destinations; and the interesting emergence of a hybrid form of retail — or "phygital", a portmanteau of "digital" and "retail".

Read more: Blurring the Lines of Retail

Pearl Lok, Investment Services and Stephen Bruce, Real Estate Management Services both shared their insights on sustainability  from a landlord's perspective – and its positive impact on tenant attraction. Environment, Social and Governance (ESG) considerations will play an increasingly important role for both Occupiers and Investors during the building/space selection phase.

Read more: Holistic Sustainability in Logistics

The importance of incorporating sustainability was further reiterated from the occupiers' perspective by June Chua, Tenant Representation and Bastiaan Van Beijsterveldt, Occupier Services as they both gave insights on global sustainability trends, such as ensuring good air quality in the office and the creation of a healthier indoor work environment for employees, especially in times of COVID-19. 

Read more: Occupier Trends: Sustainability

LingWei Kong, Jerome Wright, and Steven Tan, Capital Markets & Investment Services closed the session with a lively discussion on how the current environment is accelerating the development and adoption of technology, and wellness trends encouraging flexibility in uses and redevelopment.

Read more: Singapore Office Market: The Paradigm Shift, Collective Sale: The New Wave

In conclusion, Colliers' experts are optimisticand as the market continues to show signs of recovery, a market recovery from 2021 onwards could be underway and to thrive this year, one will have to remain agile, flexible, sustainable and, most importantly, time it right.

Key take-aways from the session:

  • As travel restrictions will remain in place for most of 2021, we forecast a pent-up demand driving a V-shape recovery for Hotels by 2023;
  • This year's key themes in the Retail sector are relevance and transformation of Brick-and-Mortar retail; creation of lifestyle destinations and "Phygital" retail;
  • Environment, Social and Governance (ESG) considerations will play an increasingly important role for both Occupiers and Investors when selecting a building;
  • Occupiers need more flexibility in the pace, space and place of work;
  • Few investors have already taken advantage of the set of incentives provided by URA to rejuvenate the CBD, and we foresee more to jump on the bandwagon;
  • Private land sales via en bloc and collective sales will recover this year.

 

2021 singapore property outlook

Click here to watch the "2021 Singapore Property Outlook" webinar.

 

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