CBRE Hotels: Singapore hotel market to stay challenging for buyers

Singapore

THE Singapore hotel market will likely remain challenging for buyers in the short term due to the high prices and limited supply of available assets, according to CBRE Hotels.

"Investors turned more cautious during (Q1 2015) and have become more rational and analytical when evaluating potential deals," said assistant vice-president of CBRE Hotels (Asia-Pacific), Teo Junrong, in a report. "As with the broader investment market, there is a bit of a price gap at present with vendors under no real pressure to sell, although CBRE does still see some opportunities in the market."