Singapore’s real estate market has been known for its resilience and stability, but with the upcoming redevelopment of Paya Lebar Airbase (PLAB), the equilibrium in the market is likely to be disrupted. The government’s decision to transform the former military airbase into a commercial and residential hub will definitely spark a flurry of interest from developers and investors, but what does this mean for the future of Singapore’s real estate market?
In this opinion piece, we will explore the potential impact of this massive supply shock on the market equilibrium and the various factors that could shape the future of real estate in Singapore. We will cover the information provided in the URA’s Long Term Plan Review and how the future development of the PLAB estate will impact the rest of Singapore.