Investment sales jump 105% to $19.7b in Q1

Commercial deals lift volumes past half of 2025 total.

Investment sales surged 104.9% QoQ to $19.7b in the first quarter of 2026, driven by a sharp rebound in commercial transactions that put the market on track for its strongest year since 2017.

Commercial assets led activity with $10.3b of deals, followed by residential at $4.3b and industrial at $3.0b, according to Cushman & Wakefield. The consultancy said first-quarter volumes had already exceeded half of 2025’s full-year total.

Commercial investment volume in the quarter also surpassed the whole of 2025, when the sector recorded $8.6b. Cushman & Wakefield said full-year commercial volume is set to be the highest since 2022, supported by investor interest in prime office and retail assets.

The consultancy said office and retail properties remain in focus because of favourable demand-supply dynamics, resilient capital values, steady rents, and positive yield spreads amid relatively low borrowing costs.

It added that thin supply pipelines and higher construction costs could further strengthen the appeal of well-located assets with stabilised income flows.

Residential investment was driven mainly by the public land market, which accounted for nearly 75% of sector volume as five government land sales sites were sold.

Industrial activity remained firm, helped by the listing of UI Boustead REIT, the sale of 25 Loyang Crescent, and the Ascent transaction.

Cushman & Wakefield said Singapore’s safe-haven appeal and lower short-term rates should help cushion geopolitical uncertainty, even as the economy is expected to grow at the lower end of the 2.0% to 4.0% forecast range in 2026.