Singapore has been a market of interest these past few months. Cushman & Wakefield concluded the country is a top destination due its stable political environment and relatively strong office rental for U.S. and Hong Kong investors.
Hong Kong investors spent a total of $1.4 billion in the Republic’s real estate during the first half of 2019. The amount accounted for more than a quarter of the $5.2 billion in total outbound real estate investment from Hong Kong during the period, making Singapore the top destination. The United States followed in second, investing $1.2 billion in the country.
James Shepherd, head of research for Asia-Pacific at Cushman & Wakefield, said to local media outlets, “Singapore may increasingly be viewed as a comparatively safe haven given the challenges that some other global destinations are facing.”
The total real estate investment sales volume amounted to $6.7 billion during the second quarter 2019, increasing by 49 pe
