Singapore property investment sales fall 45% in first half of 2020: Report

SINGAPORE - Property investment sales in Singapore slumped in the first half of this year amid the coronavirus pandemic, though the market showed signs of stabilising in the second quarter, a report from Cushman & Wakefield on Thursday showed.

"In the absence of a catalyst, the sluggish market sentiment is expected to continue, with volume in the second half of the year unlikely to increase significantly," said Christine Li, Cushman & Wakefield's head of research for Singapore and Southeast Asia. The biggest deal of the quarter was Chinese e-commerce giant Alibaba Group buying a 50 per cent stake in AXA Tower in a deal that values the property at $1.68 billion. Also, Perennial divested its 30 per cent stake in TripleOne Somerset to Shun Tak Holdings for $155.1 million. Another major commercial deal involved Olayan Group purchasing the retail and banking units of 30 Raffles Place for $315.0 million.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore IPO market expected to be livelier in second half of 2020SINGAPORE - A new crop of listings may emerge as recovery takes hold in the second half after a volatile six months for capital markets.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Singapore home prices fall as shutdown hits property marketSingapore private home prices fell for a second consecutive quarter after a two-month lockdown shut most of the economy and put the brakes on the real-estate market.
Source: YahooSG - 🏆 3. / 71 Read more »