Singapore racked up its best quarter ever for commercial property deals to defy a sharp region-wide decline, noted a report yesterday.
Deal volume here climbed 74 per cent to US$5.6 billion (S$7.7 billion) in the three months to June 30, a record level for a single quarter, as institutional investors piled in.
The report from MSCI Real Assets, a part of index compiler MSCI, showed investment across the region totalled US$45.1 billion, a 24 per cent decline from the same quarter in 2021.
MSCI said this drop was led by a sharp fall in trades of individual properties, which totalled only US$33.1 billion, compared with an average of around US$40 billion a quarter for most of last year.
“Singapore was the star in the Asia-Pacific’s gloomy second quarter,” said MSCI, which based its report on sale and purchase data of office, retail, industrial, hotel, apartment and senior housing properties.
This story is from the August 11, 2022 edition of The Straits Times.
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This story is from the August 11, 2022 edition of The Straits Times.
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