Singapore

SINGAPORE dropped out of the top 10 cities in commercial property investment volumes in the first quarter, with transactions plunging 78 per cent year on year to US$432 million, according to Real Capital Analytics' (RCA) Asia-Pacific (Apac) Capital Trends report.

The steep drop was partly due to a high base as 2019 was a record year. The number of deals also fell significantly to just 13 deals for the quarter, representing a 32 per cent decline from the previous year. Like the rest of the region, the volume of deals above US$250 million fell the sharpest, with only Hong Kong faring worse than Singapore, RCA noted in a press statement on Thursday.