Real estate sector sees robust activity, but Singapore professionals not ahead in salaries
Within the Asia-Pacific, Vietnam leads with an average median wage of US$178,000
[SINGAPORE] Despite healthy investment and new home sales, salaries for real estate professionals in Singapore are not charging ahead of their regional peers.
According to the latest survey on salaries for various segments, the Republic’s average annual median salary for the property sector is US$88,000, above that in Malaysia, the Philippines and Indonesia, where the cost of living is much lower, but behind Vietnam, Australia, India, Thailand, China and Hong Kong.
Salary, Rewards and Sentiments, a 2025 global report by recruitment consultancy Macdonald & Company, found that Singapore’s real estate market remains robust. Recent media reports said total 2024 investment sales rose 35 per cent to cross the S$25 billion mark. Government land sales were a major contributor. Key emerging trends include sustainability-focused developments and digital transformation.
On the other hand, Hong Kong’s market – often compared with Singapore’s in terms of stage of development and prices – faces challenges such as oversupply and economic uncertainties. However, market activity has improved following rate cuts and the removal of cooling measures. Yet, the average median salary in Hong Kong stands at US$90,000, slightly higher than Singapore’s.
Within the Asia-Pacific, Vietnam leads with an average median salary of US$178,000 despite its low per capita income.
In response to Business Times queries, Macdonald said its data for Vietnam came from fewer survey responses compared to other Asean countries and internationally. As a result, the data for the country was skewed towards top professional jobs at managing director/C-suite levels. For most countries, the bulk of the data covered mid-level management.
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Among the top positions in real estate jobs in Singapore, managing directors and heads of department commanded the highest salaries, Macdonald & Co’s data showed.
Globally, about two-thirds of real estate professionals received a pay rise.
Despite the salary increases, the gap between maximum bonus entitlements and actual payouts in Asia-Pacific is widening. While 72 per cent of employees were eligible for bonuses, the average bonus paid in 2024 to 2025 was US$22,000, which is 30 per cent less than the maximum bonus entitlement.
In Singapore and mainland China, the average maximum bonus was 40 per cent. Hong Kong’s average is slightly higher at 45 per cent, while Australia and Indonesia offer the highest maximum bonuses in the region, both at 55 per cent.
More than half of Asia-Pacific respondents are likely to change jobs this year, according to the report, with salary and lack of career progression cited as the key reasons. Bonus potential was ranked high on the list of priorities when seeking new roles.
Will Buck, managing director for Asia-Pacific at Macdonald & Co, said the modest 2 per cent salary increase across the region reflects the current market challenges.
“This trend points towards some pent-up frustration in the workplace, and highlights the importance of competitive compensation and a positive work environment in retaining talent,” he added.
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