Singapore investment property sales lose steam in Q1 under macro cloud

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.