Singapore sees slowest quarter in total investment deals since 2020
Total investment sales amounted to S$4.2b during the first quarter.
Investment deals slowed in the first quarter of 2023 with total investment sales amounting to S$4.2b, a 61% year-on-year drop, Knight Frank reported.
This is the lowest quarterly total since the second quarter of 2020, when Singapore was placed under the circuit breaker.
Residential deals over the quarter amounted to S$1.6b, comprising collective sales that amounted to some S$583.8m.
The commercial market was quiet for the most part, but the sale of 29 Robinson Road drove up the total to S$1.9b.
The sale of industrial properties increased 62.8% QoQ to S$681.1m in comparison to the fourth quarter of 2022.
Knight Frank attributed this to the market shifting its focus while waiting tentatively on the sidelines for adjustment and possible repricing largely in the commercial sector.