2024-11-26-莱坊-Singapore_Investment_Market_Update_Q3_2024_2页_588kb

Summary of Q3 2024 Investment Sales

• Total Investment Sales: Reversed to S$8.3 billion in Q3 2024, reflecting a 24.8% quarter-on-quarter increase.
• Key Sectors:
  • Residential: Comprised S$2.3 billion, dominated by GLS land sales at 74.2%, driven by anticipation of Federal Reserve interest rate cuts.
  • Commercial: Reached S$2.7 billion, with a 37.2% quarter-on-quarter rise in sales value.
  • Industrial: Experienced the highest growth, jumping 567.6% QoQ to S$2.5 billion, fueled by large-scale acquisitions like the stake sale of Tuas South Avenue 14 for S$444.6 million.
• Market Dynamics: Fed's interest rate cuts are expected to stimulate more activity, especially in industrial and residential sectors, with positive carry narratives emerging. Collective sales remain unsuccessful due to competition from GLS.
• Outlook: Investment sales momentum is likely to improve in the coming months, with annual total projected between S$23-25 billion. Global tensions and high interest rates have slowed outbound investment.