Singapore property investment sales could rise by 15% in 2024

Recovery is expected to kick in in the second half of the year.

According to CBRE, 2023 witnessed a stalemate between buyers and sellers arising from mismatched price expectations. This led to real estate investment volumes declining 29% y-o-y to S$28.844 billion. It is foreseeable that the same conditions should spill into H1 2024.

Here’s more from CBRE:

A significant recovery could however play out in the latter half of 2024 if interest rates fall and stabilise at levels that offer investors confidence of positive carries in their acquisitions. CBRE’s 2024 Asia Pacific Investor Intentions Survey found that the majority of investors who transact in Singapore expect to purchase similar volumes or even more real estate in 2024, compared with 2023. This suggests there is ample liquidity waiting on the sidelines.

Singapore also remains an attractive destination for cross-border investments. Its macro economic stability, pro-business environment, and neutral political environment instil confidence in investors.

Given sound fundamentals and expected continuation of rental growth, CBRE Research expects full year property investment sales volumes could rise 15% above 2023 levels including planned public land sales.