Chart of the Day: Check out the top retail property transactions in Q3

Weak market sentiment has made investors selective in their acquisitions.

This chart from JLL Singapore shows the top three property transactions in Q3, led by the changing of ownership of 313@Somerset from Lendlease to Lendlease Global Commercial REIT for $1b.

Also read: Property investment sales up 33.8% to $8b in Q3

The next two biggest transactions both did not hit $100m: the $86.7m transaction for 6.67% interest in Waterway Point, and the $32.2m purchase of 39/45 Boat Quay.

Consumer sentiment remained lackluster in Q3, reflected by retail sales contracting for the seventh-straight month in August. Whilst this did not dampen investors’ sentiment, JLL observed that they have become selective in their acquisitions.

In view of the dampened retail market sentiment, retailers are expected to exercise great caution on expansion plans which will pull on rent growth prospects, said JLL. However, yields are expected to remain stable in the near term.
 

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