Singapore real estate investment sales jump 44.6% to record S$16.b in Q1

Commercial real estate led the growth.

Singapore’s real estate investment market recorded a sharp upswing in Q1 2026, with total investment sales rising 44.6% quarter-on-quarter to S$16.6 billion, marking the highest quarterly level on record, according to Colliers.

In its latest Investment Market Insights report, Colliers attributed the surge to concentrated liquidity, as investors increasingly targeted prime, income-generating assets amid stabilising market conditions and easing borrowing costs.

Commercial real estate led the gains, with investment volume rising nearly 2.5 times quarter-on-quarter to S$10.8 billion. A key driver was the launch of Singapore’s largest commercial real estate private fund, seeded with S$8.2 billion in prime office assets and targeting at least S$15 billion under management.

Colliers noted that Government Land Sales contributed S$2.8 billion, or 16.8% of total activity. Excluding GLS, investment was dominated by office assets (65.4%), followed by industrial (12.1%) and retail (9.6%).

“Q1’s headline number is exceptional, but the more telling story is where liquidity is flowing,” said Catherine He, Head of Research at Colliers Singapore. She added that capital is increasingly concentrated in assets with strong income visibility, durable tenant demand and long-term defensive positioning.

Retail investment activity also strengthened, supported by deals including Bukit Panjang Plaza, Mercatus’ retail portfolio and Holland Piazza. Industrial investment, meanwhile, eased 20.8% quarter-on-quarter from a high base, with activity driven largely by sale-and-leaseback transactions.

“The market is seeing a clear capital recycling trend,” said Terry Wong, Head of Capital Markets & Investment Services at Colliers Singapore. He noted that REITs, funds and corporates are actively monetising non-core assets and redeploying capital into prime acquisitions.

Despite expectations of moderation from record levels, Colliers said deal flow is likely to remain active, supported by strong fundamentals in core segments and continued investor preference for high-quality, income-stable assets in Singapore.