Singapore investors have spent in total US$4.6 billion (S$6.3 billion) on cross-border real estate transactions in the 12 months through to the second quarter of this year.
According to a report released by Real Capital Analytics (RCA), a real estate and market intelligence provider, it ranked Singapore investors as the second most active in Asia-Pacific during the reported period.
One of the top Asia-Pacific transactions was GIC’s purchase of a 43 per cent stake in Shinjuku Maynds Tower, a 34-storey prime office building in Tokyo, for 62.5 billion yen (S$771.6 million)
Singapore investors have chiefly concentrated on Chinese and Australian real estate, said the report.
Real estate investment flow from Singapore to Australia alone rose 8 per cent year-on-year to hit US$3.3 billion, the fifth highest cross-border flow in Asia-Pacific.
RCA data shows, however, that investment activity in Singapore has fallen 12 per cent to US$7.6 billion on fewer big-ticket office transactions from a year ago. But the number of transactions done here doubled in the first six months from a year ago.
In all, 50 transactions – mainly involving smaller deals – were completed during the first half, the highest in five years.
The large number of deals came on the back of a slew of collective sales in the Singapore real estate sector.