Singapore Residential Leasing Briefing Q1-2011

Published 16 May 2011
Savills Research | Singapore

Market overview

Having undergone several phases of expansion, Singapore’s economy progressed to a more advanced stage of recovery in Q1. The growth was driven mainly by the manufacturing, services-producing and electronics and precision engineering sectors.

Based on advance estimates, Singapore’s growth paced ahead by 8.5% year-on-year in the first quarter. The expansion was unexpected following a year in which the country experienced one of the highest growth rates (14.5%) in the world. On a seasonally adjusted quarter-on-quarter annualised basis, overall GDP grew by 23.5% in Q1.