Commercial real estate investment soar 74% YoY to US$5.6b in Q2

Singapore had the strongest performance amongst APAC markets.
 
Singapore beat other APAC markets in terms of commercial real estate investment volume in Q2, a report from MSCI Real Assets unveiled.

Based on the report, the Lion City clocked in a total of US$5.6b ($7.7b) of commercial real estate investments in Q2, a 74% increase from the same period last year.

In terms of property type, MSCI Real Assets said CBD offices in Singapore garnered the majority of the investment during the quarter. 

“Offices continued to be the most sought-after property type, with the sale of Income @ Raffles achieving the second highest ever price recorded for an entire office building,” the report stated.

“Across the island, transacted prices of en-bloc offices have risen by double-digits over the past year, in contrast with a more modest rise of 4% for strata office deals,” it added.