In the bustling city-state of Singapore, real estate professionals are feeling the pressure. While the industry remains a central part of the economy, many are noticing a lack of salary growth despite being busy in their roles. As the sector continues to face headwinds, Singapore’s real estate salaries are falling behind those of key competitors in the region, particularly markets like Hong Kong and Thailand.
Why Are Salaries Stalling?
The main culprit behind stagnant salaries is a sluggish deal flow. According to Macdonald & Company’s 2025 Salary, Rewards, and Sentiments Report, the median annual salary for real estate professionals in Singapore stands at US$88,000. This number is surprisingly lower than markets such as Hong Kong, where the real estate sector is more lucrative.
Will Buck, Managing Director of Asia Pacific at Macdonald & Company, points to the tough capital-raising environment in the past year as a primary factor. “With fewer deals happening and reduced market activity, salaries naturally reflect that slowdown,” he explains.
The broader economic uncertainties ranging from inflation to interest rates and geopolitical risks—have kept capital largely on the sidelines. This hesitancy among investors is reflected in a significant disconnect between buyers and sellers, further stalling market activity and reducing opportunities for salary growth.
The Impact of Sluggish Salaries
The lack of salary growth isn’t just frustrating for current professionals, it’s also becoming a barrier for attracting new talent to the sector. “It’s difficult to attract and retain the right people when wages aren’t keeping pace with the rising cost of living,” warns Buck. If salaries fail to adjust to inflation, professionals may seek better-paying opportunities elsewhere, and newcomers might be hesitant to enter the field at all.
For young professionals entering the real estate sector, the numbers can be discouraging. When starting salaries are lower than those in other industries, the appeal of real estate begins to fade.
How Can Salaries Improve?
Ultimately, the path to better salaries in the real estate sector lies in the return of deal activity. Buck emphasizes, “When deal volumes increase and market activity picks up, salaries will naturally follow suit.” Essentially, once the market regains momentum and capital starts flowing again, salary growth is likely to follow.
