Singapore investment sales hit 2-year high of $6.95b as residential segment outperforms

A majority (84.9%) of the transactions in Q3 came from the residential segment.

A recent report by Savills says Singapore’s investment sales in the third quarter increased 12.5% QoQ to a two-year high of S$6.95 billion. On a year-on-year (YoY) basis, the increase was 132.0% because in the third quarter of 2020, investment sales came in at just S$3.0 billion. 

“Last year’s low base was due to the continuation of strict measures imposed on cross border travel despite having emerged from the lockdown that spanned most of Q2/2020. The increase in volume in the third quarter this year was in part due to the relaxation of tightened mobility measures which were in force in the second quarter,” Savills adds.

Here’s more from Savills:

Compared with Q2/2021 when the investment sales numbers were lifted by large private industrial deals, private investment sales dipped 28.6% QoQ to S$3.53 billion in Q3/2021. The other portion of total investment sales was made up by the public sites sold under the Government Land Sales (GLS) Programme, which doubled from the previous quarter to S$3.74 billion. 

Breaking down the Q3/2021 investment sales by segment, residential made up the largest proportion at 84.9%, up from 48.6% in Q2/2021. On the other hand, the proportion of commercial and industrial investment sales shrunk by 23.9 percentage points (ppts) QoQ to 12.3% and 12.3 ppts QoQ to 2.7% respectively.

Get the full report here.