The Business Times
business-time-50
OUTLOOK 2023

Office investment sales headed for slow start in 2023 amid price gap, higher borrowing costs

Activity is expected to pick up when interest rate outlook clears, aiding price discovery

google-preferred-sourceAdd BT as a preferred source
Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Dec 29, 2022 · 05:50 AM
    • Income At Raffles at 16 Collyer Quay was sold for about S$1 billion in late-June 2022 to Singapore-based Bright Ruby Resources group.
    • Income At Raffles at 16 Collyer Quay was sold for about S$1 billion in late-June 2022 to Singapore-based Bright Ruby Resources group. PHOTO: YEN MENG JIIN, BT

    THE market for big-ticket sales of office assets is heading for a slow start in 2023 – after a weak performance in the last two quarters of this year.

    A significant buyer-seller price gap will continue to be a major hurdle in sealing deals – especially for income-generating office assets.

    “Institutional buyers will probably watch and wait for a few more months, for visibility on interest rates peaking before jumping in,” said Jeremy Lake, managing director of investment sales and capital markets at Savills Singapore.

    Commercial & IndustrialSingapore officesSingapore property

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Allowing some older malls to evolve organically could help Orchard Road retain diversity, says one observer.

    Room for more offices, homes and green spaces to make Orchard Road more vibrant

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The amendments "aim to protect the competitive process of takeover and merger transactions", says SIC.

    MAS revises takeover and merger code to enhance competition and disclosures

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More