Marina Bay: A district one should watch
There are many vibrant and exciting things that happen in downtown Marina Bay area than just business. And there’s more to it than simply being the financial district.
Investors in Singapore have been ranked by Real Capital Analytics (RCA) as the second most active in Asia-Pacific, spending a total of US$4.6 billion on cross-border real estate over the 12 months to the second quarter of 2018, reported the Business Times.
RCA noted that Singaporean investors mostly concentrated on Australian and Chinese real estate. In fact, Singapore real estate investment flow to Australia alone soared 32 percent year-on-year to US$3.3 billion – making it the fourth highest cross-border flow within the region.
However, investment activity within the city-state fell 12 percent to US$7.6 billion on the back of fewer big-ticket office deals. Nonetheless, the number of transactions completed here has doubled to 50 – mostly involving smaller transactions – during the first six months from last year.
RCA attributed the large number of deals to a slew of en bloc sales done in the Singapore real estate sector. These collective sales accounted for a whopping US$10 billion or 58 percent of all land sold during the first half of 2018. RCA revealed that Singapore still has US$1.7 billion of collective sales deals in the pipeline.