Investment sales drop 20.3% QoQ in Q4 2024

For the whole year 2024, investment sales rose 28.7% YoY.

In 4Q 2024, total investment sales in Singapore dropped 20.3% quarter-on-quarter (QoQ) to $6.5b from $8.2b in Q3 2024, ETC Research reported.

The residential market was the largest contributor at 36.3%, followed by industrial (35.1%), and retail (15.3%).

In Q4, five Government Land Sales (GLS) sites were awarded including Tampines Street 95 (Executive Condominium), Faber Walk, Jalan Papan (Plot 5), Kallang Way, and Lok Yang Way, totaling $1.26b.

The residential sector also saw the successful sale of Thomson View Condominium to a consortium comprising UOL Group, Singapore Land, and CapitaLand Development in November, marking the only publicly disclosed successful residential collective sale in 2024.

Industrial assets also gained strong investor demand in Q4 with notable transactions including the sale of two Keppel data centres.

The commercial market also remained active, with notable transactions including the sales of Concorde Hotel and Shopping Centre and Katong Plaza.

For the whole year 2024, the total investment deals increased 28.7% year-on-year (YoY) to $25.2b, from $19.5b in 2023.

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