Commercial real estate activity bounces back to pre-pandemic average
Investment activity skyrockets 223% to $1.35b in Q3.
Data from the Asia Pacific Capital Trends Report showed that Singapore commercial real estate deal activity is recovering to the pre-pandemic average, Real Capital Analytics (RCA) said.
Investment activity in Singapore increased, year on year, by 223% to $1.35b (US$1b) in the third quarter of 2021.
"This brings the year-to-date tally to $7.9b (US$5.8b), which is now back in line with the five-year pre-Covid average," RCA said.
Whilst fewer large deals were closed in this quarter, activity in the smaller end of the market began to pick up.
Overall, 90 deals over $121.90b (US$90b) were recorded, more than last year’s count.
“Singapore has perennially been a target for some of the world’s largest institutional investors. Cross-border inflows started off this year very strongly, but momentum has slowed as the city-state struggled with re-opening the economy and borders in the second half of the year. That hasn’t stopped Singaporean investors from looking abroad – they have now grown to become the most active source of Asian capital this year, both within the region, as well as at a global level,” RCA's Head of Analytics for Asia Benjamin Chow said.