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Commercial and industrial

Should you buy residential, commercial or industrial property?

Do offices, shops and factories make better investments than homes?

Asks whether offices, shops and factories make better investments than homes. It puts the URA and JTC price indices on one base (1998 Q4 = 100) and compares 27 years of growth, swings and falls. Homes gave the best capital growth with the smallest swings, but the winner changed from cycle to cycle. Property that is not a home also needs five checks: tenure, who may buy, costs, exit and rent against price.

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FreeKey figures

From 1998 to 2026 homes grew fastest: 4.2% a year, against 0.4% for offices

Compound growth of price indices, 1998 Q4 to 2026 Q2. URA and JTC via SingStat.

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From 1998 to 2026 homes grew fastest: 4.2% a year, against 0.4% for officesCompound growth of price indices, 1998 Q4 to 2026 Q2. URA and JTC via SingStat.Residential, a year: 4.2%. 1998 Q4 to 2026 Q2Residential, a yearResidential, a year: 4.2%. 1998 Q4 to 2026 Q24.2%1998 Q4 to 2026 Q2Industrial, a year: 2.7%. 1998 Q4 to 2026 Q2Industrial, a yearIndustrial, a year: 2.7%. 1998 Q4 to 2026 Q22.7%1998 Q4 to 2026 Q2Office, a year: 0.4%. 1998 Q4 to 2026 Q2Office, a yearOffice, a year: 0.4%. 1998 Q4 to 2026 Q20.4%1998 Q4 to 2026 Q2Office worst fall: -42.9%. 2000 Q4 to 2004 Q1Office worst fallOffice worst fall: -42.9%. 2000 Q4 to 2004 Q1-42.9%2000 Q4 to 2004 Q1

Source: URA and JTC via SingStat. Growth rates and the office fall are the PropInsights calculation from the quarterly indices. Data to 2026 Q2.

Licence: green class (Singapore Open Data Licence).

View the data as a table
From 1998 to 2026 homes grew fastest: 4.2% a year, against 0.4% for offices
MeasureValueNote
Residential, a year4.2%1998 Q4 to 2026 Q2
Industrial, a year2.7%1998 Q4 to 2026 Q2
Office, a year0.4%1998 Q4 to 2026 Q2
Office worst fall-42.9%2000 Q4 to 2004 Q1

FreeLine chart

Residential prices have tripled since 1998. Industrial prices doubled and office prices rose 11%

Price index, 1998 Q4 = 100. Retail (central region) starts in 2011 and is published on the same base. URA and JTC, to 2026 Q2.

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Residential prices have tripled since 1998. Industrial prices doubled and office prices rose 11%The office index peaked at 163.3 in 1996 Q3. The retail index peaked at 130.7 in 2014 Q4. Industrial is not one clean series: JTC changed its method in 2014 Q4 and there is no figure for 2001 Q4.501001502002503003502000200420082012201620202024Residential: 1998-Q4 to 2026-Q2Office: 1998-Q4 to 2026-Q2Industrial: 1998-Q4 to 2026-Q2Industrial: 1998-Q4 to 2026-Q2Retail: 2011-Q1 to 2026-Q2Residential, 2026 Q2: 307ResidentialOffice, 2026 Q2: 111OfficeIndustrial, 2026 Q2: 207IndustrialRetail, 2026 Q2: 104Retail1998-Q4: Residential 100, Office 100, Industrial 100, Retail no data1999-Q1: Residential 105, Office 92, Industrial 96, Retail no data1999-Q2: Residential 118, Office 92, Industrial 92, Retail no data1999-Q3: Residential 127, Office 91, Industrial 87, Retail no data1999-Q4: Residential 134, Office 99, Industrial 95, Retail no data2000-Q1: Residential 138, Office 105, Industrial 96, Retail no data2000-Q2: Residential 140, Office 117, Industrial 106, Retail no data2000-Q3: Residential 137, Office 119, Industrial 107, Retail no data2000-Q4: Residential 133, Office 126, Industrial 111, Retail no data2001-Q1: Residential 127, Office 115, Industrial 112, Retail no data2001-Q2: Residential 126, Office 111, Industrial 106, Retail no data2001-Q3: Residential 123, Office 107, Industrial 101, Retail no data2001-Q4: Residential 117, Office 99, Industrial no data, Retail no data2002-Q1: Residential 116, Office 94, Industrial 92, Retail no data2002-Q2: Residential 115, Office 90, Industrial 89, Retail no data2002-Q3: Residential 116, Office 87, Industrial 89, Retail no data2002-Q4: Residential 115, Office 82, Industrial 86, Retail no data2003-Q1: Residential 114, Office 80, Industrial 83, Retail no data2003-Q2: Residential 113, Office 77, Industrial 81, Retail no data2003-Q3: Residential 113, Office 76, Industrial 79, Retail no data2003-Q4: Residential 113, Office 74, Industrial 78, Retail no data2004-Q1: Residential 112, Office 72, Industrial 78, Retail no data2004-Q2: Residential 112, Office 72, Industrial 78, Retail no data2004-Q3: Residential 113, Office 73, Industrial 79, Retail no data2004-Q4: Residential 114, Office 73, Industrial 79, Retail no data2005-Q1: Residential 115, Office 74, Industrial 79, Retail no data2005-Q2: Residential 115, Office 74, Industrial 80, Retail no data2005-Q3: Residential 117, Office 75, Industrial 81, Retail no data2005-Q4: Residential 118, Office 76, Industrial 81, Retail no data2006-Q1: Residential 120, Office 77, Industrial 81, Retail no data2006-Q2: Residential 122, Office 80, Industrial 82, Retail no data2006-Q3: Residential 125, Office 83, Industrial 83, Retail no data2006-Q4: Residential 130, Office 89, Industrial 86, Retail no data2007-Q1: Residential 137, Office 93, Industrial 89, Retail no data2007-Q2: Residential 148, Office 101, Industrial 97, Retail no data2007-Q3: Residential 160, Office 110, Industrial 100, Retail no data2007-Q4: Residential 171, Office 118, Industrial 106, Retail no data2008-Q1: Residential 177, Office 120, Industrial 109, Retail no data2008-Q2: Residential 177, Office 121, Industrial 114, Retail no data2008-Q3: Residential 173, Office 116, Industrial 115, Retail no data2008-Q4: Residential 163, Office 110, Industrial 107, Retail no data2009-Q1: Residential 140, Office 97, Industrial 97, Retail no data2009-Q2: Residential 133, Office 93, Industrial 92, Retail no data2009-Q3: Residential 154, Office 91, Industrial 90, Retail no data2009-Q4: Residential 166, Office 92, Industrial 92, Retail no data2010-Q1: Residential 175, Office 94, Industrial 93, Retail no data2010-Q2: Residential 184, Office 98, Industrial 99, Retail no data2010-Q3: Residential 190, Office 104, Industrial 107, Retail no data2010-Q4: Residential 195, Office 109, Industrial 114, Retail no data2011-Q1: Residential 199, Office 115, Industrial 123, Retail 1172011-Q2: Residential 203, Office 119, Industrial 130, Retail 1172011-Q3: Residential 206, Office 123, Industrial 139, Retail 1212011-Q4: Residential 206, Office 125, Industrial 145, Retail 1212012-Q1: Residential 206, Office 125, Industrial 155, Retail 1222012-Q2: Residential 207, Office 123, Industrial 168, Retail 1232012-Q3: Residential 208, Office 126, Industrial 183, Retail 1242012-Q4: Residential 212, Office 126, Industrial 182, Retail 1242013-Q1: Residential 213, Office 129, Industrial 190, Retail 1262013-Q2: Residential 215, Office 131, Industrial 189, Retail 1282013-Q3: Residential 216, Office 132, Industrial 195, Retail 1292013-Q4: Residential 214, Office 133, Industrial 188, Retail 1302014-Q1: Residential 212, Office 134, Industrial 195, Retail 1302014-Q2: Residential 209, Office 134, Industrial 197, Retail 1292014-Q3: Residential 208, Office 136, Industrial 195, Retail 1292014-Q4: Residential 206, Office 139, Industrial 195, Retail 1312015-Q1: Residential 203, Office 139, Industrial 196, Retail 1312015-Q2: Residential 202, Office 139, Industrial 195, Retail 1302015-Q3: Residential 199, Office 139, Industrial 194, Retail 1302015-Q4: Residential 198, Office 139, Industrial 191, Retail 1302016-Q1: Residential 197, Office 138, Industrial 187, Retail 1272016-Q2: Residential 196, Office 136, Industrial 182, Retail 1232016-Q3: Residential 193, Office 136, Industrial 179, Retail 1222016-Q4: Residential 192, Office 135, Industrial 174, Retail 1232017-Q1: Residential 191, Office 129, Industrial 170, Retail 1182017-Q2: Residential 191, Office 128, Industrial 167, Retail 1142017-Q3: Residential 192, Office 128, Industrial 166, Retail 1132017-Q4: Residential 194, Office 131, Industrial 164, Retail 1122018-Q1: Residential 202, Office 133, Industrial 164, Retail 1122018-Q2: Residential 208, Office 136, Industrial 164, Retail 1112018-Q3: Residential 209, Office 136, Industrial 164, Retail 1112018-Q4: Residential 209, Office 139, Industrial 164, Retail 1132019-Q1: Residential 208, Office 143, Industrial 164, Retail 1102019-Q2: Residential 211, Office 144, Industrial 164, Retail 1112019-Q3: Residential 214, Office 139, Industrial 164, Retail 1122019-Q4: Residential 215, Office 138, Industrial 163, Retail 1142020-Q1: Residential 213, Office 133, Industrial 163, Retail 1112020-Q2: Residential 213, Office 127, Industrial 161, Retail 1092020-Q3: Residential 215, Office 127, Industrial 157, Retail 1112020-Q4: Residential 220, Office 123, Industrial 159, Retail 1092021-Q1: Residential 227, Office 120, Industrial 160, Retail 1052021-Q2: Residential 229, Office 121, Industrial 163, Retail 1022021-Q3: Residential 231, Office 118, Industrial 164, Retail 1022021-Q4: Residential 243, Office 116, Industrial 166, Retail 1042022-Q1: Residential 244, Office 121, Industrial 169, Retail 1032022-Q2: Residential 253, Office 115, Industrial 172, Retail 1022022-Q3: Residential 263, Office 112, Industrial 175, Retail 982022-Q4: Residential 264, Office 116, Industrial 178, Retail 962023-Q1: Residential 272, Office 116, Industrial 181, Retail 952023-Q2: Residential 272, Office 117, Industrial 184, Retail 962023-Q3: Residential 274, Office 118, Industrial 186, Retail 962023-Q4: Residential 282, Office 111, Industrial 187, Retail 972024-Q1: Residential 286, Office 110, Industrial 187, Retail 992024-Q2: Residential 288, Office 113, Industrial 189, Retail 982024-Q3: Residential 286, Office 114, Industrial 190, Retail 1002024-Q4: Residential 293, Office 113, Industrial 194, Retail 982025-Q1: Residential 295, Office 113, Industrial 197, Retail 1002025-Q2: Residential 298, Office 112, Industrial 200, Retail 1002025-Q3: Residential 301, Office 112, Industrial 201, Retail 1002025-Q4: Residential 303, Office 111, Industrial 204, Retail 1012026-Q1: Residential 305, Office 111, Industrial 206, Retail 1042026-Q2: Residential 307, Office 111, Industrial 207, Retail 104

The office index peaked at 163.3 in 1996 Q3. The retail index peaked at 130.7 in 2014 Q4. Industrial is not one clean series: JTC changed its method in 2014 Q4 and there is no figure for 2001 Q4.

Source: URA and JTC via SingStat. Residential: URA private residential price index (M212261), rebased. Industrial: JTC (M212181), rebased.. Data to 2026 Q2.

Licence: green class (Singapore Open Data Licence).

View the data as a table
Residential prices have tripled since 1998. Industrial prices doubled and office prices rose 11%
PeriodResidentialOfficeIndustrialRetail
1998-Q4100100100
1999-Q11059296
1999-Q21189292
1999-Q31279187
1999-Q41349995
2000-Q113810596
2000-Q2140117106
2000-Q3137119107
2000-Q4133126111
2001-Q1127115112
2001-Q2126111106
2001-Q3123107101
2001-Q411799
2002-Q11169492
2002-Q21159089
2002-Q31168789
2002-Q41158286
2003-Q11148083
2003-Q21137781
2003-Q31137679
2003-Q41137478
2004-Q11127278
2004-Q21127278
2004-Q31137379
2004-Q41147379
2005-Q11157479
2005-Q21157480
2005-Q31177581
2005-Q41187681
2006-Q11207781
2006-Q21228082
2006-Q31258383
2006-Q41308986
2007-Q11379389
2007-Q214810197
2007-Q3160110100
2007-Q4171118106
2008-Q1177120109
2008-Q2177121114
2008-Q3173116115
2008-Q4163110107
2009-Q11409797
2009-Q21339392
2009-Q31549190
2009-Q41669292
2010-Q11759493
2010-Q21849899
2010-Q3190104107
2010-Q4195109114
2011-Q1199115123117
2011-Q2203119130117
2011-Q3206123139121
2011-Q4206125145121
2012-Q1206125155122
2012-Q2207123168123
2012-Q3208126183124
2012-Q4212126182124
2013-Q1213129190126
2013-Q2215131189128
2013-Q3216132195129
2013-Q4214133188130
2014-Q1212134195130
2014-Q2209134197129
2014-Q3208136195129
2014-Q4206139195131
2015-Q1203139196131
2015-Q2202139195130
2015-Q3199139194130
2015-Q4198139191130
2016-Q1197138187127
2016-Q2196136182123
2016-Q3193136179122
2016-Q4192135174123
2017-Q1191129170118
2017-Q2191128167114
2017-Q3192128166113
2017-Q4194131164112
2018-Q1202133164112
2018-Q2208136164111
2018-Q3209136164111
2018-Q4209139164113
2019-Q1208143164110
2019-Q2211144164111
2019-Q3214139164112
2019-Q4215138163114
2020-Q1213133163111
2020-Q2213127161109
2020-Q3215127157111
2020-Q4220123159109
2021-Q1227120160105
2021-Q2229121163102
2021-Q3231118164102
2021-Q4243116166104
2022-Q1244121169103
2022-Q2253115172102
2022-Q326311217598
2022-Q426411617896
2023-Q127211618195
2023-Q227211718496
2023-Q327411818696
2023-Q428211118797
2024-Q128611018799
2024-Q228811318998
2024-Q3286114190100
2024-Q429311319498
2025-Q1295113197100
2025-Q2298112200100
2025-Q3301112201100
2025-Q4303111204101
2026-Q1305111206104
2026-Q2307111207104

FreeTimeline

Residential won three of five cycles; office and industrial won one each

Bars: price index cycles. Blue bar: residential won. Grey bar: office or industrial won.

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Residential won three of five cycles; office and industrial won one eachBars: price index cycles. Blue bar: residential won. Grey bar: office or industrial won.199820022006201020142018202220262030Cycles, trough to trough (winner on price)Dates that matterResidential +12.3%Office +29.5%Industrial +81.1%Residential +12.6%Residential +42.7%Industrial price peakSSD on industrial propertyJTC index method changeJTC: +3 years, new leasesResidential +12.3%: 1998 to 20041998 to 2004Office +29.5%: 2004 to 20092004 to 2009Industrial +81.1%: 2009 to 20172009 to 2017Residential +12.6%: 2017 to 20202017 to 2020Residential +42.7%: 2020 to 20262020 to 2026Industrial price peak: 20142014SSD on industrial property: 20132013JTC index method change: 20142014JTC: +3 years, new leases: 20252025

Source: URA and JTC via SingStat. Cycles trough to trough and the winner on price are the PropInsights calculation. SSD: IRAS. JTC lease change: JTC, March 2025..

View the data as a table
Residential won three of five cycles; office and industrial won one each
EventStartEndNote
Residential +12.3%1998-10-012004-01-01
Office +29.5%2004-01-012009-04-01
Industrial +81.1%2009-04-012017-04-01
Residential +12.6%2017-04-012020-07-01
Residential +42.7%2020-07-012026-04-01
Industrial price peak2014-04-01
SSD on industrial property2013-01-12
JTC index method change2014-10-01
JTC: +3 years, new leases2025-03-06

FreeLine chart

Office rents doubled and home rents rose 127%, but industrial rents rose only 51%

Rent index, 1998 Q4 = 100. Residential, office (central region) and industrial (JTC) rent indices, rebased. To 2026 Q2.

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Office rents doubled and home rents rose 127%, but industrial rents rose only 51%Rent index, 1998 Q4 = 100. Residential, office (central region) and industrial (JTC) rent indices, rebased. To 2026 Q2.501001502002502000200420082012201620202024Residential: 1998-Q4 to 2026-Q2Office: 1998-Q4 to 2026-Q2Industrial: 1998-Q4 to 2026-Q2Residential, 2026 Q2: 227ResidentialOffice, 2026 Q2: 202OfficeIndustrial, 2026 Q2: 151Industrial1998-Q4: Residential 100, Office 100, Industrial 1001999-Q1: Residential 95, Office 96, Industrial 931999-Q2: Residential 96, Office 92, Industrial 871999-Q3: Residential 97, Office 90, Industrial 841999-Q4: Residential 98, Office 91, Industrial 852000-Q1: Residential 98, Office 93, Industrial 852000-Q2: Residential 100, Office 97, Industrial 872000-Q3: Residential 102, Office 100, Industrial 862000-Q4: Residential 99, Office 102, Industrial 852001-Q1: Residential 98, Office 104, Industrial 842001-Q2: Residential 98, Office 104, Industrial 832001-Q3: Residential 97, Office 101, Industrial 832001-Q4: Residential 96, Office 94, Industrial 822002-Q1: Residential 95, Office 92, Industrial 812002-Q2: Residential 95, Office 88, Industrial 792002-Q3: Residential 95, Office 85, Industrial 772002-Q4: Residential 95, Office 83, Industrial 762003-Q1: Residential 92, Office 80, Industrial 742003-Q2: Residential 91, Office 78, Industrial 732003-Q3: Residential 90, Office 75, Industrial 712003-Q4: Residential 90, Office 74, Industrial 692004-Q1: Residential 89, Office 73, Industrial 692004-Q2: Residential 89, Office 74, Industrial 692004-Q3: Residential 90, Office 76, Industrial 702004-Q4: Residential 90, Office 76, Industrial 702005-Q1: Residential 91, Office 78, Industrial 712005-Q2: Residential 91, Office 79, Industrial 712005-Q3: Residential 92, Office 81, Industrial 722005-Q4: Residential 93, Office 86, Industrial 742006-Q1: Residential 94, Office 88, Industrial 752006-Q2: Residential 96, Office 94, Industrial 752006-Q3: Residential 101, Office 100, Industrial 752006-Q4: Residential 106, Office 112, Industrial 772007-Q1: Residential 114, Office 124, Industrial 812007-Q2: Residential 126, Office 138, Industrial 872007-Q3: Residential 140, Office 158, Industrial 952007-Q4: Residential 150, Office 175, Industrial 1022008-Q1: Residential 158, Office 188, Industrial 1082008-Q2: Residential 162, Office 200, Industrial 1102008-Q3: Residential 161, Office 198, Industrial 1112008-Q4: Residential 152, Office 185, Industrial 1062009-Q1: Residential 139, Office 166, Industrial 1002009-Q2: Residential 132, Office 153, Industrial 952009-Q3: Residential 129, Office 146, Industrial 922009-Q4: Residential 130, Office 142, Industrial 922010-Q1: Residential 136, Office 142, Industrial 942010-Q2: Residential 144, Office 144, Industrial 952010-Q3: Residential 150, Office 152, Industrial 1002010-Q4: Residential 153, Office 159, Industrial 1052011-Q1: Residential 155, Office 168, Industrial 1112011-Q2: Residential 157, Office 171, Industrial 1172011-Q3: Residential 159, Office 172, Industrial 1202011-Q4: Residential 159, Office 173, Industrial 1212012-Q1: Residential 160, Office 172, Industrial 1232012-Q2: Residential 160, Office 171, Industrial 1262012-Q3: Residential 162, Office 171, Industrial 1282012-Q4: Residential 163, Office 171, Industrial 1332013-Q1: Residential 164, Office 170, Industrial 1342013-Q2: Residential 164, Office 171, Industrial 1332013-Q3: Residential 165, Office 172, Industrial 1392013-Q4: Residential 164, Office 173, Industrial 1402014-Q1: Residential 163, Office 177, Industrial 1402014-Q2: Residential 162, Office 182, Industrial 1402014-Q3: Residential 161, Office 187, Industrial 1382014-Q4: Residential 159, Office 190, Industrial 1372015-Q1: Residential 156, Office 191, Industrial 1372015-Q2: Residential 155, Office 186, Industrial 1362015-Q3: Residential 154, Office 181, Industrial 1352015-Q4: Residential 152, Office 177, Industrial 1342016-Q1: Residential 150, Office 174, Industrial 1302016-Q2: Residential 149, Office 168, Industrial 1282016-Q3: Residential 147, Office 166, Industrial 1252016-Q4: Residential 146, Office 163, Industrial 1252017-Q1: Residential 144, Office 157, Industrial 1242017-Q2: Residential 144, Office 156, Industrial 1232017-Q3: Residential 144, Office 159, Industrial 1212017-Q4: Residential 143, Office 163, Industrial 1212018-Q1: Residential 143, Office 168, Industrial 1212018-Q2: Residential 145, Office 170, Industrial 1212018-Q3: Residential 145, Office 175, Industrial 1212018-Q4: Residential 144, Office 176, Industrial 1212019-Q1: Residential 145, Office 175, Industrial 1212019-Q2: Residential 147, Office 177, Industrial 1212019-Q3: Residential 147, Office 176, Industrial 1212019-Q4: Residential 146, Office 170, Industrial 1212020-Q1: Residential 147, Office 169, Industrial 1212020-Q2: Residential 145, Office 169, Industrial 1202020-Q3: Residential 145, Office 161, Industrial 1192020-Q4: Residential 145, Office 156, Industrial 1192021-Q1: Residential 148, Office 161, Industrial 1202021-Q2: Residential 152, Office 163, Industrial 1202021-Q3: Residential 155, Office 157, Industrial 1212021-Q4: Residential 159, Office 158, Industrial 1222022-Q1: Residential 166, Office 161, Industrial 1232022-Q2: Residential 177, Office 165, Industrial 1252022-Q3: Residential 192, Office 168, Industrial 1272022-Q4: Residential 207, Office 177, Industrial 1302023-Q1: Residential 221, Office 186, Industrial 1342023-Q2: Residential 228, Office 190, Industrial 1362023-Q3: Residential 229, Office 200, Industrial 1392023-Q4: Residential 225, Office 200, Industrial 1412024-Q1: Residential 220, Office 197, Industrial 1442024-Q2: Residential 218, Office 203, Industrial 1452024-Q3: Residential 220, Office 202, Industrial 1462024-Q4: Residential 220, Office 200, Industrial 1462025-Q1: Residential 221, Office 201, Industrial 1472025-Q2: Residential 223, Office 200, Industrial 1482025-Q3: Residential 226, Office 200, Industrial 1492025-Q4: Residential 224, Office 201, Industrial 1502026-Q1: Residential 225, Office 200, Industrial 1512026-Q2: Residential 227, Office 202, Industrial 151

Source: URA and JTC via SingStat. Residential: URA rental index (M212261 family); office: URA, central region; industrial: JTC (M212171). All rebased to 1998 Q4.. Data to 2026 Q2.

Licence: green class (Singapore Open Data Licence).

View the data as a table
Office rents doubled and home rents rose 127%, but industrial rents rose only 51%
PeriodResidentialOfficeIndustrial
1998-Q4100100100
1999-Q1959693
1999-Q2969287
1999-Q3979084
1999-Q4989185
2000-Q1989385
2000-Q21009787
2000-Q310210086
2000-Q49910285
2001-Q19810484
2001-Q29810483
2001-Q39710183
2001-Q4969482
2002-Q1959281
2002-Q2958879
2002-Q3958577
2002-Q4958376
2003-Q1928074
2003-Q2917873
2003-Q3907571
2003-Q4907469
2004-Q1897369
2004-Q2897469
2004-Q3907670
2004-Q4907670
2005-Q1917871
2005-Q2917971
2005-Q3928172
2005-Q4938674
2006-Q1948875
2006-Q2969475
2006-Q310110075
2006-Q410611277
2007-Q111412481
2007-Q212613887
2007-Q314015895
2007-Q4150175102
2008-Q1158188108
2008-Q2162200110
2008-Q3161198111
2008-Q4152185106
2009-Q1139166100
2009-Q213215395
2009-Q312914692
2009-Q413014292
2010-Q113614294
2010-Q214414495
2010-Q3150152100
2010-Q4153159105
2011-Q1155168111
2011-Q2157171117
2011-Q3159172120
2011-Q4159173121
2012-Q1160172123
2012-Q2160171126
2012-Q3162171128
2012-Q4163171133
2013-Q1164170134
2013-Q2164171133
2013-Q3165172139
2013-Q4164173140
2014-Q1163177140
2014-Q2162182140
2014-Q3161187138
2014-Q4159190137
2015-Q1156191137
2015-Q2155186136
2015-Q3154181135
2015-Q4152177134
2016-Q1150174130
2016-Q2149168128
2016-Q3147166125
2016-Q4146163125
2017-Q1144157124
2017-Q2144156123
2017-Q3144159121
2017-Q4143163121
2018-Q1143168121
2018-Q2145170121
2018-Q3145175121
2018-Q4144176121
2019-Q1145175121
2019-Q2147177121
2019-Q3147176121
2019-Q4146170121
2020-Q1147169121
2020-Q2145169120
2020-Q3145161119
2020-Q4145156119
2021-Q1148161120
2021-Q2152163120
2021-Q3155157121
2021-Q4159158122
2022-Q1166161123
2022-Q2177165125
2022-Q3192168127
2022-Q4207177130
2023-Q1221186134
2023-Q2228190136
2023-Q3229200139
2023-Q4225200141
2024-Q1220197144
2024-Q2218203145
2024-Q3220202146
2024-Q4220200146
2025-Q1221201147
2025-Q2223200148
2025-Q3226200149
2025-Q4224201150
2026-Q1225200151
2026-Q2227202151

FreeFlowchart

Five checks before you buy a shop, office or factory unit

Rules from SLA, IRAS and JTC. Deal counts and rent against price are my calculations.

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Five checks before you buy a shop, office or factory unitRules from SLA, IRAS and JTC. Deal counts and rent against price are my calculations.Tenure. Freehold or. years left?. Short leases. lose valueTenureFreehold oryears left?Short leaseslose valueWho may buy. No RPA approval. for commercial. or industrial.. JTC: trade limitsWho may buyNo RPA approvalfor commercialor industrial.JTC: trade limitsCosts. BSD tops out. at 5%. No ABSD.. Industrial SSD:. 3 yearsCostsBSD tops outat 5%. No ABSD.Industrial SSD:3 yearsExit. About 1 deal. for every 9 home. deals (2011)ExitAbout 1 dealfor every 9 homedeals (2011)Rent vs price. Office rent per. $ of price +81%. Home: -26%. (since 1998 Q4)Rent vs priceOffice rent per$ of price +81%Home: -26%(since 1998 Q4)

Source: SLA, IRAS, JTC; PropInsights calculation. Deal counts: PropInsights calculation from transaction records, 2011. Rent against price: URA and JTC rent and price indices via SingStat, 1998 Q4 to 2026 Q2..

View the data as a table
Five checks before you buy a shop, office or factory unit
StepDetailLeads to
TenureFreehold or. years left?. Short leases. lose valueWho may buy
Who may buyNo RPA approval. for commercial. or industrial.. JTC: trade limitsCosts
CostsBSD tops out. at 5%. No ABSD.. Industrial SSD:. 3 yearsExit
ExitAbout 1 deal. for every 9 home. deals (2011)Rent vs price
Rent vs priceOffice rent per. $ of price +81%. Home: -26%. (since 1998 Q4)