Investment sales for real estate rebounded in 2022

Transactions totalled at $31.9b with majority from commercial deals.

Real estate investment sales totalled $31.9b in 2022, with commercial deals accounting for a large proportion, Knight Frank said.

Most of the deals, however, slowed down in the fourth quarter as transactions totalled $4.5b and declined 22% quarter-on-quarter as caution overtook the earlier optimism.

Amongst the largest sale was Hong Kong-listed link REIT which agreed to buy Jurong Point and Swing By @ Thomson Plaza for a combined $2.16b.

Investors' demand for strata office space was still healthy amidst the age of flexible work schemes.

In November, two high floors at Springleaf Tower were sold for about $53.9m (S$2,510 per square feet) to Esteel Enterprise, as well as the fourth floor at 15 Scotts for $49.0m by Cortina Holdings earlier in October.