279 views
Image Source: Savills Singapore

Hotel, retail, living sectors are Savills’ top investment picks for 2024

A reduction in borrowing costs bodes well for investors in the Lion City.

Prime hotel, retail and rental accommodation sectors are expected to perform strongly next year in Singapore, according to Savills. 

In its World Research 2024 outlook, the property consultancy firm pointed to the tourism rebound as the major driver of opportunities in premium hotels and quality retail outlets in the coming year. 

It said that core and core plus investors can tap the top tourist destinations in the Lion City, as well as Australia and Southern Europe.

Savills said it remains bullish on Singapore’s prime rental residential segment as the robust housing demand continues to outstrip supply of rental homes in the market. 

Other markets offering premium multifamily opportunities include Japan, Germany, Spain, Italy and the UK.

“Market consensus has it that the interest rate cycle has peaked and may decline sometime in the next few quarters. Should this be the case, we are of the view that Singapore's investment market would correspondingly look brighter in 2024,” said Alan Cheong, executive director for research and consultancy at Savills Singapore.

“Any decline in interest rates would benefit the big-ticket investment property classes where buyers are more interest rate sensitive,” he added.

Globally, 90% of Savills researchers predict the multifamily sector to post rental growth next year, while 81% expect rent hikes over the wider residential market.

About 81% of the analysts are also expecting rents in quality retail outlets to remain stable or register marginal growth globally, on the back of robust domestic consumption and sustained recovery in tourism. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!