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Singapore investment property sales lose steam in Q1 under macro cloud

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Ry-Anne Lim

Ry-Anne Lim

Published Fri, Apr 14, 2023 · 10:15 PM
    • Total investment sales fell 61 per cent to S$4.2 billion in the first quarter of 2023, figures compiled by Knight Frank show.
    • Total investment sales fell 61 per cent to S$4.2 billion in the first quarter of 2023, figures compiled by Knight Frank show. PHOTO: BT FILE

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    REAL estate investment activity in Singapore slowed considerably in the first quarter of 2023, as investors retreated in the face of higher financing costs and mounting macroeconomic uncertainties.

    First-quarter figures compiled by Knight Frank Singapore showed that total investment sales were down 61 per cent to S$4.2 billion, from S$10.8 billion chalked up in the year-ago period. 

    This is the lowest quarterly total since Q2 2020, which included Singapore’s “circuit breaker”, Knight Frank noted. Just S$1.7 billion investment sales were recorded then.  

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