Economists raise S’pore growth forecasts for 2025, 2026
Economists raise S’pore growth forecasts for 2025, 2026
Key numbers from the latest economists’ survey
What changed — and why 2026 still looks softer
While 2025 growth expectations have improved, economists still expect growth to cool in 2026. The survey highlighted downside risks such as geopolitical tensions and even the possibility of an AI bubble unwinding, while upside support could come from continued AI-driven advancements and resilient global demand.
Inflation outlook
- 2025: core 0.7%, headline 0.9% (median forecasts).
- 2026: core 1.3%, headline 1.5% (median forecasts).
Inflation forecasts were described as broadly steady for 2025, with a step-up expected in 2026.
Monetary policy expectations
Most economists in the survey expected Singapore’s monetary policy stance to remain unchanged in upcoming reviews, with only a small share anticipating tightening by July 2026.
TopBroker Insight: what this can mean for property (especially industrial)
- Industrial demand can stay firm if manufacturing and the tech cycle remain supportive — occupiers expand space, and logistics/clean-use demand stays active.
- 2026 moderation matters: if growth slows, tenants may become more price-sensitive, and “best-in-class” buildings typically outperform older stock.
- Watch exports & capex signals: stronger exports can translate into higher utilisation and leasing momentum across certain industrial clusters.
What to watch next
- Global tech cycle: if AI-related demand stays strong, it can keep Singapore’s manufacturing-related momentum supported.
- Geopolitics & trade policy: renewed tensions or policy shocks can hit small open economies faster.
- Exports trend: sustained strength in electronics/pharma exports can be a tailwind for industrial occupier demand.
How does this growth outlook affect your property decisions?
Stronger economic growth can support industrial demand, rentals, and occupier expansion. Speak to TopBroker for a practical view on how this macro trend translates into B1 / B2 industrial opportunities.
📌 Clients typically ask us how GDP growth affects industrial rents, occupier demand, and timing for acquisition — we’ll walk you through this clearly.
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