Property investment volume drops 30.6% YoY to $20.8b in 2023

GLS tenders accounted for 37.2% of total investment last year.

Singapore recorded a $20.8b property investment volume in 2023, marking a 30.6% YoY decline.

Colliers said GLS tenders accounted for $7.7b or 37.2% of the total investment volume last year.

Colliers expect Singapore's  investment market to remain resilient despite facing multiple headwinds like  high cost of capital, a weaker economic backdrop, and geopolitical uncertainties. 

For 2024, Colliers forecast investment sales to be 5%-15% higher than 2023, at $22b-$24b.