Singapore's real estate investments rose 50% to US$15b
Large en bloc deals drove growth last year.
Real Capital Analytics (RCA) reported that Singapore’s real estate investments increased by 50% YoY to up to US$15b, reaching a ten-year high in 2017.
This was due to large en bloc deals, which include buying out existing apartment owners to redevelop sites.
“In total, US$11.8b was transacted in deals above US$500m in five development sites, four residential collective sales and six income-producing asset deals,” RCA said.
The highest acquisition was Sim Lian Group’s purchase of Tampines Court worth US$715m, RCA said.
Singapore ranked third in RCA’s largest Asia Pacific commercial real estate investments market, with Hong Kong and Tokyo ranking first and second, respectively.