Singapore will deliver its first budget later today (Thursday) after the passing of founding Prime Minister Lee Kuan Yew.
With economic growth in Southeast Asia’s biggest financial centre expected to hover around 1-2 percent, expectations have been building about how the city state plans to chart its path for the year ahead.
According to real estate firm JLL, Singapore’s real estate market has been depressed with rents of commercial properties in the CBD area down by 15 percent in 2015. Meanwhile, the city state’s high-end residential market continues to be hit by cooling measures introduced by the government in 2013.
A key question for the 2016 Budget is whether there will be any reprieve for real estate investors? If there is you can expect an immediate response from both buyers and investors on the back of significant pent-up demand.
This article was first published by JLL Real Views and is republished with kind permission.
