Singapore growth to stall in 2026 as inflation limits rate-cut prospects

China’s slower expansion weighs on Asia-Pacific growth, prompting caution for 2026.

Singapore’s economic growth is expected to slow in 2026 as interest rate support fades and regional demand weakens, according to CBRE Research’s Asia Pacific outlook.

The country is forecast to grow at a slower pace than in 2025, reflecting softer expansion in major trading partners, particularly China, and limited scope for further monetary easing.

Inflation in Singapore remains higher than expected, constraining the potential for additional rate cuts next year.

Across Asia Pacific, GDP growth is projected to ease to about 3.9% in 2026 from an estimated 4.3% in 2025. The slower growth in China and Japan is expected to weigh on the region, even as India and parts of Southeast Asia continue to post relatively stronger expansion supported by domestic demand.

Singapore is among the economies where rates have already fallen significantly, leaving limited room for further reductions in 2026. Japan stands apart, with rate hikes expected as inflation and wage growth persist.

Meanwhile, investment conditions are expected to improve modestly. In Singapore, offices are re-emerging in investor portfolios after several years of weak demand, alongside continued interest in industrial and logistics assets.

Investors are increasingly prioritising income stability as yield compression remains limited.

Across the region, CBRE expects returns in 2026 to rely more on rental performance than valuation gains, with interest rates stabilising and capital values under pressure.

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