Will Singapore’s budget reinvigorate its real estate?

 —  Article by Beelin Ang

On 24 March Singapore will deliver its first budget 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.

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. Watch the videographic for insights on the upcoming budget and JLL’s forecast for Singapore’s real estate market.

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