SG commercial property investment volume cut by more than half in 3Q
Deal activity in Singapore totaled only US$571m.
Singapore was amongst the markets in Asia Pacific (APAC) with the lowest commercial property investment volume recorded in 3Q23, data from MSCI Real Assets showed.
According to the report, deal activity in Singapore totalled only US$571m in 3Q23, translating to a 59% YoY drop.
In APAC, Singapore ranked 7th in terms of investment volume.
The quiet quarter was "a product of the slower dealmaking environment in the first half of this year," said MSCI Real Assets.
During the quarter, Singapore also had no deal above $250m, a first since 2014.
On the flip side, the deal pipeline in Singapore grew significantly with the addition of three sizable deals — a 542-unit hotel to be sold by UOL Group and two retail malls to be acquired by Chinese buyers.
All three transactions will likely close in the final quarter of 2023.