Singapore’s property investment volume is set to recover to pre-COVID-19 levels in the coming quarters, according to Colliers in its first quarter 2021 report.
Tricia Song, head of research, said, “Mobility and economic activities going forward should further increase due to the more easing measures introduced to allow 75 percent of employees at the workplace at any one time from April 5 onwards.”
Singapore investment sales rose 25.8 percent quarter-over-quarter and 47.9 percent year-over-year (ex-mergers and government land sales) in first quarter 2021 to S$3.8 billion ($2.9 billion) led by the commercial and industrial segments due to a few major deals, including a half-stake in OUE Bayfront for S$634 million ($477 million), the sale of YewTee Point, and Boustead injecting 14 properties into the newly established Boustead Industrial Fund at S$469 million ($353 million).
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