Property market sentiment dips in 4Q2025 as global uncertainties cloud outlook: NUS index
Sentiment in the Singapore property market is expanding aware amidst spreading global unpredictabilities. The 4Q2025 Real Estate Sentiment Index (Resi), presented by the National University of Singapore’s (NUS) Department of Real Estate and Institute of Real Estate and Urban Studies (Ireus), presented that the Composite Sentiment Index declined to 5.8 in 4Q2025, from 6.1 in the past quarter.
Risk of a downturn or decrease in the worldwide economic situation was top of thoughts for property developers, with 71% of the Resi poll respondents showing this as a primary concern for the next six months. Furthermore, 53% of respondents are worried concerning potential career reductions and a downtrend in the domestic economy over the exact same duration, whilst 47% are worried about rising construction costs.
The Resi, which is published quarterly, surveys top execs in property business to offer an alternative action of exclusive real estate market performance. It comprises a Current Sentiment Index that record adjustments in belief within the past six months, whilst a Future Sentiment Index monitor changes in view by the following 6 months.
Additionally, among property developers evaluated, 50% anticipate unit costs of new release over the following six months to be “moderately greater”, whilst the remaining 50% anticipate prices to remain consistent with the last quarter.
“Being a greatly export-oriented country, Singapore is especially at risk to global moves in trade and states policies, so while our domestic fundamentals remain good, the survey shows a clear awareness of caution regarding the external setting,” says Qian Wenlan, director of the NUS Ireus.
Taking into account the outside problems, more sector players might be motivated to veer far from hostile development strategies in favour of more risk-averse approaches, or extra conservative ways of increasing capital, she says.
The Composite Sentiment Index integrates the existing and potential indices to derive an indication of overall market view. Resi marks range from 0 to 10, mirroring the level of distrust and optimism of the poll respondents.
Nevertheless, the Future Sentiment Index declined, starting from 6.0 in 3Q2025 to 5.5 in 4Q2025. NUS assumes that the “remarkable decrease” comes from uncertainties arising from geopolitical tensions worldwide.
Overall, the industry indicates a much more tempered sentiment, as participants support for possible threats. “On the whole, study results paint a picture of a sector that is still healthy but is proactively readying for a potential tough landing,” Qian comments.
The dip in the Composite Sentiment Index appears in the middle of splitting existing and potential beliefs amongst market participants. The Current Sentiment Index stayed unchanged at 6.1 in 4Q2025, reflecting confidence around both the sell and buy parts of the industry, stated NUS in a March 10 launch.
