Singapore's overseas property investments surged 40% to $37.18b

It also rose to become the largest investor in the US market.

Singapore's real estate investments overseas surged by 40% to a two-year high of $37.18b (US$28.4b) in 2017, Cushman & Wakefield (C&W) revealed.

According to data from Real Capital Analytics (RCA), Singapore has also become the largest Asian investor in the US real estate markets.

Sovereign wealth fund GIC's acquisition of Monogram Residential Trust for $5.76b (US$4.4b) is the largest Singaporean deal recorded.

GIC also started 2018 with a $324.04m (US$247.5m) investment in multi-family properties in the US.

Singapore-based investors have focused on industrial, suburban multifamily, and more niche asset classes, including student housing and data centres.

"Other than the major metropolitan areas which have received the bulk of investment, Singapore-based capital is entering secondary and tertiary US markets as well," C&W said.

Globally, Singapore investments remained concentrated in the Asia Pacific region, which accounted for more than 40% of the exposure in 2017.

However, some European markets are also increasingly attractive to Singapore-based investors. For instance, Singapore investments into German real estate, which has emerged to be the poster child in the post-Brexit world, have surged.

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