Singapore leads Asia Pacific commercial real estate investments in Q4 2023

Singapore has taken the lead in Asia Pacific in commercial real estate investments in fourth quarter 2023, according to Knight Frank’s latest report.

The commercial investment volume in Singapore grew 462 percent quarterly and 110 percent over the same year, to reach $4.1 billion. This is the highest fourth quarter figure recorded in the past five years, surpassing the average quarterly increase of $2.5 billion by 64 percent, and placing Singapore at the forefront of the region.

These gains were driven by several substantial office transactions, including Shenton House ($402 million), VisionCrest ($322 million), and Wilkie Edge ($260 billion).

“The deals occurred despite the weaker investor sentiments due to fluctuations in interest rate movements and diverging expectations between buyer and seller on asset valuations,” said Christine Li, head of research, Asia Pacific, Knight Frank. “The successful execution of these large-scale transactions highlights