Southeast Asia Bulletin, Q3 2019
Despite its economic slowdown and downside risks ahead, private home prices in Singapore rose for the second consecutive quarter on account of its population growth, rising household income, and positive employment numbers. Meanwhile, land prices in Bangkok are expected to stay flat or drop this year for the first time in over a decade, mainly due to the economic downturn and the Land and Buildings Tax that is set to take effect in early 2020.
In this context, co-working spaces in Singapore and Bangkok are forecast to rise regardless of widening concerns over the office-sharing business model and WeWork’s doomed IPO, driven by demand from multinational corporations on top of new start-ups and overseas firms to relocate amid the U.S. - China trade war.
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