Demand for Singapore property was broad-based, with Central Business District offices garnering most investment while shopping centres and hotels performed well too. Overall transaction volume reached US$7.8bil (RM35bil) for the first half of 2022, up 53% year-on-year
SINGAPORE: Singapore racked up its best quarter ever for commercial property deals to defy a sharp region-wide decline, notes a report.
Deal volume here climbed 74% to US$5.6bil (RM25bil) in the three months to June 30 – a record level for a single quarter – as institutional investors piled in.
The report from MSCI Real Assets, a part of index compiler MSCI, showed investment across the region totalled US$45.1bil (RM201bil), a 24% decline from the same quarter in 2021.
MSCI said this drop was led by a sharp fall in trades of individual properties, which totalled only US$33.1bil (RM147bil), compared with an average of around US$40bil (RM178bil) a quarter for most of 2021.
“Singapore was the star in Asia-Pacific’s gloomy second quarter,” said MSCI, which based its report on sale and purchase data of office, retail, industrial, hotel, apartment and senior housing properties.
Demand for Singapore property was broad-based, with Central Business District offices garnering most investment while shopping centres and hotels performed well too. Overall transaction volume reached US$7.8bil (RM35bil) for the first half of 2022, up 53% year-on-year. — The Straits Times/ANN
