Foreign property investments into Singapore at all-time nine-year high - Alldamoney

[Latest News][6]

Featured Posts
Latest News


grid http://i63.tinypic.com/23uyal1.jpg

Foreign property investments into Singapore at all-time nine-year high

About $8.85 billion, mostly from Mega office deals helped drive Singapore foreign investment to its highest level since the $15.27 billion outlay 2007 before the global financial crisis.
A scenario Analyst says could well be carried over into next year, based on global and domestic economic situations.

In a world full of uncertainties the inflow of foreign funds is partly due to Singapore being seen as a safer investment destination.
Confirming the report, Christine Li, research director at Cushman & Wakefield said "It could be due to global market volatility as a result of Brexit and the oil and gas sector. Foreign investors see Singapore as a defensive play where investment is fairly protected due to the strength of the Singdollar.

Property consultancy group CBRE reported data confirmed that foreign expenditure is at $8.85 billion, amounting to 41.7 per cent of total property spending throughout the year,which is remarkably higher than the foreign investment volume of $4.67 billion in 2014 and $5.46b last year.
The CBRE report highlighted that, the office sector drew about $6.77 billion of the foreign capital spent so far in 2016. Conforming to Jeremy Lake, executive director for investment properties at CBRE Singapore who added that "Over the next three, four years, there's... very little new office space being completed... The more forward-looking investors are looking at that period of little supply, which will then result in rental growth," said.

Also Tie & Company Real estate consultant Edmund said investors normally will look towards 2020, when the market is projected to pick up.
Majority of the foreign investment went into the Asia Square Tower One deal in June, after the Qatar Investment Authority paid nearly $3.4 billion for the asset in Marina Bay.
Another notable investment coming from Wealthy Link, IOI Malaysian Property developer Group’s unit that smashed public land sales tender records of $2.57 billion bid last month for a white site in Central Boulevard, in Marina Bay also.

In the residential sector, Chinese developer Qingjian Realty's $638 million purchase of Shunfu Ville via a collective sale in May is a notable Foreign investment made in that sector. It also won the tender for a mixed development site in Bukit Batok West for $301 million in the same month.
Strong market downturn during this period, in other major markets across Asia has helped make Singapore an increasingly attractive investment proposition on a relative basis," according to head of capital markets, Singapore at JLL Mr Greg Hyland.

Alldamoney '

features the latest political, financial,business and sports news to entertain and inspire ideas for business and lifestyle.

Start typing and press Enter to search