Long seen as a safe haven, Singapore's real estate market continues outperforming its peers in Southeast Asia. Meanwhile, Vietnam’s market is expected to recover better than other major economies in the region, in which its residential sector is gaining ground with foreign investors while its industrial properties may remain as the most sought-after ones in Southeast Asia for the next 10 years. The rest markets in the region are still in the late stages of a downcycle and may see positive changes in 2H2022 driven by an economic recovery. In details, margins of property developers in the Philippines are shrinking at around 15% due to rising costs, especially compliance costs paid to the authorities.