SG records $7b of investments in Q3 2023

59.2% of this volume is from GLS deals.

SG recorded around $7b of investments in Q3 2023, marking an 84.5% increase QoQ and an 8.5% increase YoY, according to a Colliers report.

The large volume of Government Land Sales (GLS) boosted this number, with a total of 59.2% contribution worth $4.1b. 

Aside from the GLS deals, investment volume this quarter was supported by the Mixed-use (31.8%), Hospitality (18.4%), and Commercial (15.5%) sectors.

“Going forward, price expectation gaps from buyers and sellers might continue to inhibit deals, as sellers hang on to their asking prices whilst buyers stay by the sidelines. Nevertheless, with interest rates peaking, and more GLS tenders upcoming towards the end of the year, investment volume may surprise on the upside,” Catherine He, Head of Research at Colliers Singapore said.