Singapore investors pile into Japan investment properties on attractive yield spread
SINGAPORE-BASED investors are making a beeline for Japanese real estate, as low borrowing costs push up the market’s yield spread and increase its relative attractiveness.
Almost US$3 billion worth of real estate assets were purchased in the first eight months of this year, a Knight Frank report indicated, up from US$977 million in the same period last year.
Big spenders include Singapore’s sovereign wealth fund GIC, which bought six logistics facilities for US$800 million; Mapletree Logistics Trust, which acquired six warehouses for US$480 million; and real estate group CapitaLand Investment (CLI), which purchased six multifamily assets in Osaka for S$141.4 million.
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