Property investment surges 27% to $34.12b in 2025

This marks the highest annual total since 2017’s $35.16b sales.

Singapore’s real estate investment market reached $34.12b in 2025, up 27% from the previous year, according to Savills Singapore.

This marks the highest annual total since 2017, when investment sales hit $35.16b.

Growth was broad-based across both public and private sectors. Public sector investment rose 32.3% to $11.60b, driven by an increase in Government Land Sales (GLS) sites from 20 in 2024 to 30 in 2025.

Private sector sales climbed 24.3% to $22.52b, supported by activity in high-end residential properties, several large transactions, and S-REIT listings.

In the final quarter, total investment sales amounted to $10.97b. Whilst this represented a 3.3% drop from $11.35b in Q3, it was a 44.4% increase from $7.60b in Q4 2024.

Private sector sales rose 4.5% quarter-on-quarter to $7.53b, despite a slight decline in the number of deals from 120 to 106.

Investment from S-REITs, institutional investors, and high-net-worth individuals remained active, helped by lower financing costs. The impact of US tariffs proved smaller than expected.

The residential sector accounted for 40.3% of Q4 sales, though values fell 13.7% from the previous quarter to $4.42b, reflecting a slowdown in luxury home transactions.

High-end landed properties remained strong compared with the first half of 2025, supported by lower borrowing costs.

Ten Good Class Bungalows (GCB) were sold in Q4, including one on Peirce Road for $148m. Full-year GCB transactions totalled 25, valued at $1.12b, roughly on par with 2024.

Commercial property sales reached $3.45b in Q4, up 31.1% from Q3, and made up 31.5% of total quarterly investment.

Major deals included Keppel REIT’s purchase of a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 for $1.45b and the $809m sale of The Clementi Mall.

Industrial sales accounted for 19.4% of Q4 investment at $2.13b, nearly double Q3’s $1.07b. Industrial REITs were active in acquisitions and divestments, representing almost 60% of the sector’s transactions.

The largest deal was CapitaLand Ascendas REIT’s purchase of three properties for $532.6m, excluding additional premiums.

Looking ahead, Savills expects 2026 investment sales to remain around $34b.

Sectors likely to outperform include office, retail, and properties with redevelopment potential, driven by low financing costs, adjusted pricing, and opportunities to reposition assets.

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