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Singapore posts 78% fall in property investment volume in Q1: report

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SINGAPORE experienced a steep decline in real estate investment volume in the first quarter this year, with transactions tumbling 78 per cent year on year (y-o-y) to US$432 million, according to Real Capital Analytics' (RCA) Asia-Pacific (Apac) Capital Trends report. Read more at The Business Times.

Amid the slump in transaction activity to levels last seen during the global financial crisis, South Korea has been Asia-Pacific's standout market so far this year, bucking the trend with a double-digit or 12 per cent growth in investment volumes to US$4.53 billion for the first three months this year.

It added that many transactions under contract that were expected to be completed in the first quarter have been delayed, leading to a"bulging pipeline" of pending deals which were US$8 billion over the average level for the last two years. He added that the wave of the pandemic is further along in Asia-Pacific than other regions and most signs suggest that Asia-Pacific may already be at, or near, the bottom of the investment slump.

Elsewhere in the US and Europe, there were 11 real estate investment deals of over US$1 billion in the first quarter, compared to none in the Asia-Pacific.

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