Savills: Real estate investment volume totals $24.7 bil in 2022, down 1% y-o-y
Residential revenues remained to make up one of the most substantial sales worth, composing 49.9% of total financial investment sales worth past quarter. Nevertheless, sales in this sector halved to $1.4 billion in 4Q2022. This was the second consecutive quarter of decrease this part documented in 2014.
Meanwhile, reseller and also commercial assets sales both declined 34.9% and even 48.1% q-o-q. Retail sales came off a fairly high base in 3Q2022 along with the final quarter of the entire year saw a decline in retail industry strata sales plus lower transaction values of shophouses.
” Regardless of unfavourable financial as well as interest rate climate, offered the openness of the economy as well as a good perception of Singapore, total investment sales value should still be afloat in 2023,” states Alan Cheong, executive chief of Savills Research. “While greater loaning costs may weaken organizations, there still exists the opportunity of a big-ticket agreement or a series of medium-sized proceedings through this year.”
In 2023, Savills projects that the greater number of Government Land Sales (GLS) areas on offer, the $2.16 billion sale of Jurong Point, including the sale of strata units at Thomson Plaza will uplift the standard common investment sales quantity.
The market sector viewed a revive in transactional activity, increasing 28.4% q-o-q to $1.02 billion in 4Q2022 after two continuous quarters of drop. The rebound is mostly credited to a 166.1% q-o-q development in workplace financial investment sales from $251.4 million in 3Q2022 to $668.9 million in 4Q2022, states Savills.
Savills projects all-out investment sales worth for 2023 to total $24 billion to $25 billion, and also project to be damped by economic and interest rate headwinds.
Investment sales value in Singapore showed up at $24.7 billion for 2022, a decline of 1% y-o-y, according to a financial investment report by Savills Singapore. For 4Q2022, the marketplace clocked $2.81 billion in assets sales, dropping 36.1% q-o-q– the third continuous quarter of decrease– due to decreasing market problems, the report adds.
