Residential sector dominates 1Q24 investment with $1.79B

The sector's investment sales, however, dropped 48.5% QoQ.

The residential sector led investment sales in 1Q24 with $1.79b, accounting for 43.3% of the total transactions for the period.

Whilst residential emerged as the top-performing sector, its total sales were 48.5% lower quarter-on-quarter.

Behind the residential sector was commercial property, which recorded $1.3b worth of investment sales in 1Q24. 

Like the residential sector, commercial property also saw a drop in total transactions, recording a 20.9% QoQ dip.

The industrial sector, which ranked 4th in market share, recorded  $375.4m in investment sales in 1Q24, a 25% growth from 4Q23.

The largest private sector transaction in 1Q24 –- the $140 million sale of OneTen Paya Lebar –-  also belonged to the industrial sector.

“This attests to the attraction of high-quality data centre assets in Singapore by investors and operators, as the city-state consistently ranks as one of the most desirable data centre locations in the world due to its reliable infrastructure, strong cyber-security framework, availability of cloud services and a dense telecommunication network connecting it to other parts of the world,” Savills said.