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Property investment volume falls 63.3% YoY to $4b

It is the lowest quarterly investment volume registered since Q4 2020.

Singapore’s property market recorded its lowest quarterly sales in almost three years in Q1 at  $4b.

According to Colliers, the Q1 sales record is 63.6% lower year-on-year and 19.9% lower than the preceding quarter.

A handful of residential collective sales, such as Meyer Park, Bagnall Court, and Holland Tower, and industrial deals, such as the sale and leaseback of Jardine Cycle & Carriage’s warehouse/showroom portfolio, the sale of Ho Bee Centre 1 & 2, and J’Forte Building, droves investment volume for the quarter.

Whilst investment sales fell in Q1, Colliers believes that there will be a recovery in transaction volumes towards the end of 2023, “after more certainty emerges around interest rates, which will, in turn, provide clarity to investors in their decision-making.”
 

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