SINGAPORE - Investors from Singapore spent an eye-catching US$5.7 billion (S$7.9 billion) in offshore commercial real estate investments in the first half this year, ranking it as the second-largest source of Asian outbound capital just after South Korea, a latest report by real estate agency CBRE shows.. Read more at straitstimes.com.
SINGAPORE - Investors from Singapore spent an eye-catching US$5.7 billion in offshore commercial real estate investments in the first half this year, ranking it as the second-largest source of Asian outbound capital just after South Korea, a latest report by real estate agency CBRE shows.
Hugh Menck, executive director of capital markets at CBRE Singapore, said:"While investors from Singapore have been active in overseas investments in 2017 and 2018, the looming global economic uncertainties may have moderated their pace in general. Nonetheless, Singapore-based buyers became more active within Asia, a region that they are more familiar with, accounting for 43 per cent of transaction volume in the region in the first half of the year.
"For Singapore-based investors, acquisition strategies focused primarily on structural opportunities such as logistics properties, as well as defensive assets such as offices. There are also buyers who are adding multi-family assets to their portfolios," CBRE said. Despite a moderation in global capital market flows, the momentum in Asian outbound capital flows is being spurred by new sources of capital looking for diversification, a low interest-rate environment, historically low yields, and increasing popularity in new destinations, CBRE said.
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