Singapore Ranked As World’s Top Overseas Property Investor
SINGAPORE – Data from Colliers showed that the city-state was the world’s number one source of capital utilized for foreign property investments during the first six months of 2023, reported The Edge on Wednesday afternoon (27 September, SGT).
In H1 2023, entities based in Singapore deployed US$21.8 billion (S$29.9 billion) worth of capital for cross-border real estate investments. This represented 24.9 percent of the overall amount of capital deployed globally for real estate investments, including commercial properties, during the first six months of the year.
“Singapore is a significant global real estate investor and continues to fire up on investments post-pandemic with its hunter instinct seeking growth and diversification opportunities in more markets and new asset classes to pursue greater returns leveraging different capital sources and its stronger currency,” remarked Colliers Singapore’s Head of capital markets and investment services, Tang Wei Leng.
Meanwhile, the United States was named as the world’s second top source of capital for cross-border real estate investments at US$15.85 billion, which accounted for 18.1 percent of the overall tally. Canada took the third spot at US$7.24 billion or 8.3 percent of the total figure.
Two countries in Asia Pacific (APAC) also made it to the top five. Singapore’s rival commercial hub Hong Kong landed on the fourth spot at US$6.51 billion (7.4 percent), while Japan was ranked number five at US$5.15 billion (5.9 percent).
In addition, four countries in the region also made it to the top ten for global property investment destinations, namely China, Japan, Australia, and Singapore.
Colliers’ Managing Director for global capital markets for Asia Pacific Chris Pilgrim also disclosed that the United Kingdom and the US were among the countries that received property investments from Asia Pacific nations.
“APAC real estate investors are equity rich, and those who are nimble and flexible have been able to diversify their strategies, targeting growth sectors and geographies within real estate asset classes such as healthcare, senior living and student housing,” Pilgrim added.