,Singapore

Property investment up 6.9% QoQ in Q3

This was mainly aided by higher government land sales.

Investment sales in property saw a rise by 6.9% quarter-on-quarter (QoQ) to $7.5b, according to a report by Colliers. 

This is on the back of higher government land sales.

Mixed-use transactions also exploded by 816% QoQ, with residential sales following suit at 11.6% QoQ to hit $3.4b. 

Meanwhile, total commercial sales saw a dip by 12.1% QoQ to $1.2b, despite retail transactions standing strong at 100% QoQ. 

Industrial sales suffered the most at a 91.3% slide. Despite this performance, however, Colliers continues its positive outlook on this segment. 

Shophouse sales also saw a 47.4% QoQ decrease to $163m.

Hospitality experienced a standstill in this quarter, with no deal being recorded year-to-date.  A limited supply pipeline, along with new attractions and infrastructure projects, is expected to keep the sector afloat.

Steven Tan, Executive Director, Investment Services, Singapore, expects this positive outlook to persist until the first half of 2022.

“Given the strong residential demand and depleting developers’ landbank, we expect collective sales to continue to grow. Separately, we are also seeing more investor interest in the suburban malls,” he said.

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