Dismal deals galore: Singapore’s total property investment volume plunged 38.9% in Q3

The office sector drove last quarter's sales momentum.

Singapore recorded yet another dismal quarter in Q3, with total investment volume plunging 38.9% year-on-year to $4.925 billion.

According to CBRE, the private sector has well surpassed the public sector to contribute 69.4 per cent to this quarter’s total investment sales volume at $3.418 billion.

Out of the 34 private deals inked, 28 deals were priced below $100 million, and five between $100 million and $500 million. The sale of one third of MBFC Tower 3 was the only deal that crossed the $1 billion threshold.

Similar to last quarter, the office sector continued to drive the investment sales momentum at $1.772 billion or 36% of total sales volume.

As the next largest contributor, the residential sector made up 26.3 per cent of total sales volume or $1.295 bn, of which 70.2 per cent came from the awards of four GLS sites.