Investment sales to surpass $25b in 2024

Rising investor confidence drove higher transaction volumes in the retail and hospitality sectors.

Singapore's investment market showed robust growth of 20.9% year-on-year (YoY) in the first quarter of the year (Q124), signalling positive economic prospects and heightened investor confidence, according to the latest Marketbeat report by Cushman & Wakefield.

Investment volume was predominantly led by the residential sector, totalling $1.7b, followed closely by the commercial sector at $1.3b and the hospitality sector at $0.6b.

Rising investor confidence, bolstered by strong travel recovery, has translated into higher transaction volumes in the retail and hospitality sectors.

ALSO READ: SG outbound investments plummet 94.9% YoY in 1Q24

Notable transactions include the sale of The Seletar Mall for $550m, marking the largest investment deal by quantum. Additionally, investment volume in the hospitality sector was driven by the sales of Hotel G ($238.0m) and Capri by Fraser, Changi City ($170.0m).

With brighter economic prospects anticipated for 2024 and growing confidence that interest rates have peaked, investment activity is expected to gain momentum over the next few quarters.

Cushman & Wakefield predicts that total investment sales could surpass $25.0b this year, compared to $19.2b in 2023.

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