Real estate investment sales up 24% in Q4

Q4 volume climbs to $13.5b as commercial deals lead

Singapore’s real estate investment sales rose 23.9% quarter-on-quarter (QoQ) to $13.5b in Q4 2025, according to a report by Knight Frank Research. Full-year volume reached $40.0b, up 36.8% from 2024 and above the $35.5b peak recorded in 2017.

Residential investment sales reached $4.3b in Q4 2025, slightly below the $4.4b recorded in Q3 2025, with residential GLS tenders contributing $3.1b in the quarter. Residential deals totalled $14.6b in 2025, up 20.8% from 2024.

Commercial investment transactions reached $17.0b in 2025, up 124.7% from the previous year, whilst Q4 sales rose to $7.2b.

The quarter included Hongkong Land’s $3.9b transfer of selected commercial assets into a Singapore-based private real estate fund and Keppel REIT’s $1.453b acquisition of a 33.3% stake in Marina Bay Financial Centre Tower 3.

Industrial investment sales totalled $6.2b in 2025, slightly below $6.6b in 2024, while Q4 transaction value fell 27.1% QoQ and 47.4% year-on-year (YoY) to $1.8b.

Knight Frank also reported outbound investment activity rising 119.1% QoQ to $8.9b in Q4 2025 and estimated total investment sales of around $30.0b in 2026.

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