Overall property investment earnings in Singapore across all industries hit $4.4 billion in Q32020, representing a 55.1% y-o-y reduction.
But, both interest and action in the real estate marketplace have picked up substantially since the easing of Covid-19 limitations, especially from the industrial industry, notes Knight Frank.
Foreign investors also have expanded their operations in Singapore. The likes of Alibaba getting a 50% stake in AXA Tower before in May and ByteDance trying to install in Singapore is only the start of the possible requirement coming from China-based technologies, Knight Frank says.
The residential business revealed resilient need from the fantastic Class Bungalow (GCB) section, with prices amounting to $128.3 million in Q32020. This includes close to reaching the $166.4 million listed in H12020. Crucial transactions included the purchase of GCBs along Garlick Avenue, adds the study consultancy.
Transactions contain a warehouse at 7 Bulim Street from Titan (Wenya), that was offered to AIMS APAC REIT for $129.6 million, along with a business park development in 26A Ayer Rajah Crescent by Mapletree Industrial Trust, that was bought by Equinix Singapore for $125 million.
There were no trades in the public sector in Q3, as no websites were offered under the Government Land Sales programme.
Meanwhile, the Singapore outbound investment earnings totalled $2.8 billion in the next quarter, exceeding 24.3% y-o-y from $3.7 billion in precisely the exact same period this past year. Essential deals include the purchase of a home improvement site in Shanghai with a joint venture between Yanlord Land Group and also Huafa Industrial Zhuhai for roughly $0.9 billion (RMB4.5 billion) in addition to the buy of Pinnacle Office Park at Sydney, Australia, by Keppel REIT for $303.3 million (A$306.0 million).