Tag Archives: Singapore Construction Market

Singapore Construction Market is expected a CAGR of 1.79% Over the Forecast Period

Singapore’s construction market suffered a sharp downturn in 2017, contracting by 7.9% in real terms that year, following an average annual growth of 3.4% during the preceding four years. This decline can be attributed to low private sector investment in construction and government measures to curb rising residential property prices. Singapore’s construction industry is expected to contract further in real terms, by 2.6% in 2018, before regaining growth momentum. Over the remaining part of the forecast period (2018–2022), however, the industry is expected to recover, mainly due to the government’s focus on the manufacturing industry and energy and utilities infrastructure.