COVID-19 Impact on Construction Costs and Estate Upgrading and Greening Plans
- Construction costs in Singapore increased due to the COVID-19 pandemic, driven by higher foreign manpower costs from border measures, additional costs and reduced productivity from safe management measures, and rising material prices, though government support packages and legislative reliefs have mitigated some impacts.
- Public sector construction and upgrading projects, including public housing, have seen higher tender prices, but the government will not pass these cost increases to flat buyers and is working to keep projects on track while ensuring quality and safety.
- The demand for green buildings remains steady, as the cost premium for green certification is small relative to overall costs, and the government is committed to achieving its Singapore Green Plan 2030 targets, with the overall progress on track despite some potential delays.