Evolution of the Real Estate Industry in Singapore

Singapore's transformation since Independence in 1965, from a poor port city of the Third World to a modern world-class metropolis with one of the most developed and sophisticated real estate markets in the world, is truly remarkable. Very few markets in the world can claim the distinction of achieving so much as rapidly as Singapore has. This 50-year journey, made not without trials and tribulations, reflects in many ways a successful public-private partnership, combining pragmatic government policies with the entrepreneurship of the private sector. This book traces the evolution of the Singapore real estate industry and identifies the contributory factors to the successful partnership. The introductory chapter is an overarching summary of the book and subsequent chapters discuss in more detail the roles played by the government and the private sector - developers, investors, financiers, fund managers and consultants and other intermediaries - in this transformational journey from the simple beginning of a locally focused bricks-and-mortar market, building largely for owner-occupation through to globalisation and securitisation of real estate. The last two chapters look into the role of real estate education and collate the views and comments from the alumni of the NUS Real Estate school, on the future of Singapore real estate…