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Singaporean investors have pumped about $8. 5 billion into Asia-Pacific real estate since the beginning of the year.
Singapore has the largest source of real estate investment in Asia-Pacific since the beginning of the year, surpassing the United States for the first time, according to a report by Knight Frank.
Knight Frank’s Q3 2023 Asia-Pacific Capital Markets Study found that Singaporean investors injected about $8. 5 billion into Asia-Pacific real estate, exceeding the cost of cross-border investments in the United States by about 50%.
Neil Brookes, global head of capital markets at Knight Frank, says many personal offices and government-linked corporations (GLCs) in Singapore have significant equity in place to be implemented. The broader market disruption caused by emerging debt prices is creating opportunities for all equity. Investors deploy capital while many other institutional investors remain on the sidelines, he adds.
“The strength of the Singapore dollar is also pushing giant institutions such as GIC and other GLCs to look for opportunities in markets such as Japan, China, South Korea and Australia. Notably, GIC has increased its allocation to the real estate asset class, with investments in the United States now accounting for approximately 22. 4% of the total volume of inbound investments from Singapore,” says Brookes.
The Asia-Pacific advertising real estate market saw limited expansion in 3Q2023, with investment activity falling 53. 4% year-on-year. According to Knight Frank, the notable drop in domestic and foreign investors underscores their reluctance to invest in the existing maximum interest rate. environment in which yield spreads have narrowed to the point that some markets are experiencing negative threat premiums.
In reaction to these challenges, investors in the region have turned to the assets of the new economy, specifically in the commercial and knowledge sectors. At the same time, acreage acquisition has taken a back seat, reflecting a still-challenging business climate and a weak move back to the parent company
“In the case of commercial properties, the combination of a limited source of institutional-grade assets and sustained long-term demand for e-commerce, life sciences and generation is fueling investor interest. Similarly, the middle knowledge sector is perceived as a stable and long-term sector. long-term investment opportunity,” said Christine Li, director of research for Asia Pacific at Knight Frank.
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