Investment sales hit $35.2b in H1 2026

Market heads towards a record year as volume approaches the 2017 peak.

Investment sales reached $35.2b in the first half (H1) of 2026, surpassing 2025’s full-year figure and putting Singapore’s property investment market on track to exceed the previous peak of $36.8b recorded in 2017, according to Cushman & Wakefield (C&W).

Its MarketBeat report said investment sales totalled $15.5b in the second quarter (Q2) of 2026, down 21.1% quarter-on-quarter, but is the highest second-quarter investment sales volume since Q2 2022.

Commercial assets accounted for the largest share of Q2 investment activity at $7.6b, followed by residential assets at $5.3b and hospitality assets at $1.1b.

Office assets drove H1 activity, contributing $11.6b, or 32.9%, of total investment sales volume.

Major transactions included the sale of Asia Square Tower 2 for about $2.48b and Paragon for $3.9b.

Retail investment volume reached $6.3b in H1 2026, the highest since 2022, when the sector recorded $9.2b. Other retail transactions included White Sands at $467m, Bukit Panjang Plaza at $428m and i12 Katong at $372.8m.

C&W said office and retail property spreads over 10-year government bonds remained above pre-pandemic levels, supporting investment activity in core and value-add assets.

“Office and retail assets have returned strongly to investors’ radar in H1 2026,” the report said.

Industrial investment sales totalled $4b in H1 2026, following $7.1b in 2025, the highest level since 2019.

The activity was supported by asset owners divesting non-core assets and developers replenishing land banks for strata sales.

Lower borrowing costs also supported market activity. Singapore’s 3M-SORA stood at 1.07% as of June 2026, down from 1.18% at the start of the year.

Singapore’s economy grew 6.0% year-on-year (YoY) in the first quarter of 2026, whilst the 2026 economic growth forecast remains at 2.0% to 4.0% YoY, the report noted.

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