Singapore escaped the downtrend that caught every other major national Asia Pacific real estate market in the first quarter of this year, with commercial real estate investment jumping 72 per cent year-on-year to US$1.9 billion, data released by Real Capital Analytics on Tuesday show.
Hong Kong was nudged into second place among Apac metropolitan markets with an investment volume of US$4.4 billion, and Tokyo came in third at US$3.9 billion. Singapore placed sixth, the same as last year. That being said, offices still rank at the top of investor wishlists due to the ongoing cyclical recovery in the office market across most major metros.
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