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Real estate investment activity sits at about S$6.38 billioN worth of acquisitions in the first half of 2021.
Singapore saw real estate investment activity almost double during the first half of 2021 as it rose 97% to US$3.7 billion (about S$6.38 billion) worth of acquisitions, reported Singapore Business Review (SBR).
With this, the city-state was ranked by Real Capital Analytics (RCA) as Asia’s fifth most active real estate investment market. China topped the list, followed by Australia, Japan, and South Korea.
RCA noted that more than 50% of the capital inflows came from cross-border investors, making Singapore a top destination for overseas investment.
Specifically, the majority of the investments were directed towards the industrial and office sectors.
“Office volumes in Singapore – one of the most volatile sector markets in the region – has picked up this year with price increases across the board,” said David Green-Morgan, RCA’s Managing Director for Asia Pacific.
“But Singapore’s office price growth stands out from the rest of the region for another reason – it’s not just prime offices that are benefitting from this boom. Strong cross-border interest has spilt over into the secondary office market as well, with record levels achieved in the second quarter. The sale of Robinson Point, a grade B office building, at $3,800 per sq ft, set a new standard for an entire office block,” he added as quoted by SBR.
RCA said Singapore also registered rare apartment deals, with Taiwan’s Tai family acquiring upmarket residential development Eden from Swire Properties for US$220.2 million (S$299 million).
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
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