SG property investment sales recover to pre-COVID levels: Colliers | Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis
,Singapore

SG property investment sales recover to pre-COVID levels: Colliers

Investment sales surged to 86.3% in the second quarter despite tightened restrictions.

Real estate investment sales rocketed to a 171% growth year-on-year, at $9.6b, for the first half of 2021, according to a report by Colliers.

This puts Singapore real estate investment sales back to pre-COVID levels, higher than the $8.9b registered in the first half of 2019.

For the second quarter, investment sales grew by 86.3% quarter-on-quarter (QoQ), driven by industrial assets.

We expect sales to remain strong in the second half (H2) of 2021, supported by Singapore’s safe-haven status, pro-business environment, and economic growth,” Colliers said.

Industrial investment sales saw a massive 105% boost QoQ, to $2.0b, driven by the privatisation of Soilbuild Business Space REIT and Ascendas REIT’s purchase of a 75% state in Galaxis. Colliers expects positive long-term growth in warehouses, data centres and high-spec space to go hand-in-hand with e-commerce and technology growth.

Commercial sales were up 23.9% QoQ, as more tech giants continue to set up base in Singapore.

The revival of public and private land sales led residential investment sales to grow by 96.4% QoQ, to $3.1b. Colliers expects collective sales to recover in 2021.

Shophouse sales saw a rebound to 132% QoQ growth, at $310m, after declining by 56.3% in the previous quarter.

"As Singapore accelerates its vaccination program to immunise 75% of its population by early October and at least two-thirds by 9 August 2021, we can expect further easing measures in H2 2021 and a brighter outlook for investment sales over the next few years," said Colliers' Senior Director, Capital Markets, Capital Markets and Investment Services Ling Wei Kong.

Get Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

This included one-off partial distribution of divestment gains of S$20m.
This is attributed to the lower rental reliefs to retail tenants at Festival Walk and higher average occupancy from IXINAL Monzen-nakacho Building.
The Tripartite Committee on Workplace Fairness targets to complete its work by H1 2022.
A total of 811 condos were sold in the last quarter, the highest since Q4 2010.
The SMAs are focused on global infrastructure projects.
The company said their income was driven by its latest acquisitions.
The Jobs Support Scheme has been extended to 18 August.
The bank is now allowing small- and medium-sized enterprises to avail the loan digitally.
And Health Ministry clarifies roadmap in treating COVID as endemic remains.
Inflation for all items meanwhile remained unchanged at 2.4% YoY.
SMEs that qualify for the UOB Start digital pack will be offered six months of free access.
This was supported by grants extended by the government, such as the Jobs Support Scheme.
The group’s profits after tax ballooned by as much as 138.4%.
It is comprised of a 10-, 20-, and 40-year USD Temasek Bonds.
This was linked to the higher average selling prices amidst rising coal prices.