Singapore’s real estate market in 2024 is characterized by a dynamic interplay of factors influencing both residential and commercial sectors. From evolving buyer preferences to strategic government interventions, the landscape presents opportunities and challenges for investors, homeowners, and industry professionals alike.
1. Surge in HDB Resale Prices
The public housing market has experienced a significant uptick, with HDB resale prices rising by 9.6% in 2024, nearly doubling the 4.9% increase observed in 2023. This surge is attributed to limited supply and heightened demand, particularly in central locations. In response, the government has reduced the maximum borrowing limit for buyers from 80% to 75% of a resale flat’s valuation to address affordability concerns.
2. Suburban Living Gains Popularity
The trend towards suburban living continues to gain momentum as remote work becomes more entrenched in daily life. Areas like Upper Thomson and Bukit Timah have seen increased demand for larger homes and greener surroundings, offering a balance between tranquility and city accessibility.
3. Shift Towards Flexible Commercial Spaces
The commercial property market is adapting to new work dynamics, with a growing preference for flexible office spaces and co-working environments. This shift reflects the increasing adoption of hybrid work models, leading businesses to seek adaptable leasing options that accommodate fluctuating workforce needs.
4. Increased Supply of New Private Homes
2024 is witnessing a significant influx of new private home launches, with over 12,000 units expected to enter the market. Notable projects include Marina View Residences, Newport Residences, and Skywaters Residences, which are set to redefine the luxury landscape in Singapore .
5. Emphasis on Sustainability and Smart Living
There is a growing emphasis on sustainability and smart living in real estate developments. Properties incorporating eco-friendly features and smart technologies are becoming increasingly attractive to environmentally conscious buyers. Developers are focusing on energy-efficient systems and sustainable practices to enhance property appeal.
6. Resilience in the Luxury Market
Despite broader market fluctuations, the luxury real estate segment remains resilient. High-net-worth individuals continue to invest in premium properties, particularly in prime locations. This trend underscores the enduring appeal of luxury real estate in Singapore .
Looking Ahead
As Singapore’s real estate market continues to evolve, staying informed about these trends is crucial for making informed investment decisions. Whether you’re considering purchasing a home, investing in property, or exploring commercial opportunities, understanding the current dynamics will help you navigate the market effectively.
Singapore’s vibrant real estate market offers a diverse range of properties, from luxurious condos to cozy HDB flats. But navigating this dynamic landscape can be tricky, especially for first-time buyers or investors. That’s where real estate agencies come in, playing a crucial role in matching buyers and sellers with their dream homes.
With so many agencies to choose from, it can be overwhelming to know where to start. To help you out, we’ve compiled a list of the top 10 real estate agencies in Singapore for 2024, based on factors like market share, customer reviews, and expertise in specific property types.
The Best Real Estate Agencies in Singapore
1. PropNex Realty
This is the undisputed heavyweight of the Singaporean real estate scene, boasting the largest team of agents and an extensive network of branches. They offer a comprehensive range of services for buyers, sellers, and investors, and their focus on technology and innovation ensures a smooth and efficient experience.
| Address | 480 Lorong 6 Toa Payoh, #10-01 HDB Hub East Wing Singapore 310480 |
| Phone | 68208000 |
| Website | https://www.propnex.com |
2. ERA Realty Network
They have a strong reputation for its international reach and expertise in catering to foreign clients. They have a dedicated team of multilingual agents who can guide you through the buying or selling process, regardless of your nationality or language.
| Address | ERA APAC Centre 450 Lorong 6 Toa Payoh Singapore 319394 |
| Phone | 62262000 |
| Website | https://www.era.com.sg |
3. Huttons Asia
They are a premier agency with a proven track record in handling high-end property transactions. They specialise in assisting companies with employee relocations and offer a personalised service for discerning buyers and sellers of luxury homes.
| Address | 3 Bishan Place #05-01 CPF Bishan Building Singapore 579838 |
| Phone | 62530030 |
| Website | https://www.huttonsgroup.com |
4. OrangeTee
This is a dynamic and fast-growing agency known for its focus on technology and customer service. They leverage cutting-edge marketing tools and data analytics to ensure their clients get the best possible deals.
| Address | 430 Lorong 6 Toa Payoh #01-01, OrangeTee Building, Singapore 319402 |
| Phone | 64718888 |
| Website | https://www.orangetee.com |
5. SRI Pte Ltd
They’ve been steadily making a name for themselves with a focus on innovation and client service. SRI emphasises tech-driven solutions, utilising tools and data analytics to optimise property searches, marketing strategies, and communication with clients.
| Address | 1 Kim Seng Promenade #17-10/12 Great World City, West Tower Singapore 237994 |
| Phone | 67090005 |
| Website | https://sri.sg |
6. KF Property Network Pte Ltd
This is a real estate agency in Singapore focusing on private properties in prime residential districts. They claim to leverage cutting-edge technology and expertise to effectively sell and lease residential properties, bringing value, creativity, and optimal returns to their clients.
| Address | 10 Collyer Quay #08-01 Ocean Financial Centre Singapore 049315 |
| Phone | 63727333 |
| Website | https://www.knightfrank.com.sg |
7. C&H Properties Pte Ltd
They are a well-established real estate agency in Singapore, founded in 1991 with a focus on providing reliable and personalised service to clients. They’ve consistently maintained a strong presence and positive reputation in the local market, with over 30 years of experience in Singapore.
| Address | 125A Lorong 2 Toa Payoh #02-138 Bishan-Toa Payoh Town Council Singapore 311125 |
| Phone | 65331918 |
| Website | https://www.candh.com.sg |
8. Century 21 Pte Ltd
The Singaporean branch of the global brand offers several advantages stemming from their global network and focus on specific aspects of the Singaporean market. They also offer international property opportunities and potential buyers interested in Singapore.
| Address | 125A Lor 2 Toa Payoh, #02-138 Toa Payoh Town Council, Singapore 311125 |
| Phone | 63470021 |
| Website | http://c21.com.sg |
9. SN Real Estate Pte Ltd
As a boutique agency in Singapore focusing primarily on commercial and industrial properties, they have expertise in this specific market segment and strong emphasis on client relationships. Their core competencies lie in commercial and industrial real estate.
| Address | 3791 Jalan Bukit Merah #05-20 E-Centre @ Redhill Singapore 159471 |
| Phone | 85861388 |
| Website | https://www.snrealestate.com.sg |
10. CBRE Pte Ltd
It is a large and established real estate agency in Singapore, offering a wide range of services such as sales, leasing, property management, valuation, and project and development services for both commercial and residential properties.
| Address | 2 Tanjong Katong Road #06-01 Paya Lebar Quarter Tower 3 (PLQ 3) Singapore 437161 |
| Phone | – |
| Website | https://www.cbre.com.sg |
Conclusion
Remember, the best agency for you depends on your specific needs and priorities. I hope this list helps!
