CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Q1 2022 investment volume amounted to $6.1B, With Residential Volumes Registering $3.0B and Commercial Sales Surging to $2.6B

Jayna Poh • 07/04/2022

According to Cushman & Wakefield, Q1 2022 investment volume amounted to $6.1 billion, marking a 17.5% qoq drop over Q4 2021. However, on a yearly basis, investment volume during the first quarter of this year registered a substantial increase of almost 40% as compared to that in Q1 2021, driven by robust activities in both the residential and commercial markets.

Figure 1: Investment Sales Volume

Table 1 - Investment Marketbeat Singapore Q1 2022

Being accounted for almost half of Q1 2022’s investment sales, total residential investment volume rose from $2.8b clocked in during the last quarter of 2021 to $3.0b registered in Q1 2022, driven mainly by the conclusion of government land sales (GLS) deals. There was no residential GLS tender closing during Q4 2021 while four residential GLS sites were sold in Q1 2022 for around $2.0b, comprising Lentor Hills Road (Parcel A) with top bid of $586.6 million (m) or $1,060 per sq ft per plot ratio (psf ppr), Jalan Tembusu ($768m or $1,302 psf ppr), Dairy Farm Walk ($347m or $980 psf ppr) and Bukit Batok West Avenue 8 executive condominium (EC) site ($266m or $662 psf ppr). Most of these sites attracted keen interests from developers despite the recently implemented cooling measures as unsold inventory stayed at record low of only 14,333 units as at end 2021.

“Private residential investment sales fell by more than 60% as activities in the private residential investment market slowed down in Q1 2022. Developers are more selective and cautious following the latest round of cooling measures and higher construction costs and development risks. Hence, the residential collective sale market mainly witnessed the sales of small sites such as Gloria Mansion ($70.3m), Vicenta Lodge ($27.2m) and Baode Building ($27m) during the first quarter of this year,” said Wong Xian Yang, Head of Research, Singapore at Cushman & Wakefield. “However, we expect developers’ land acquisition activities to pick up in subsequent quarters as unsold stock continues to run low and a clearer picture of cooling measures’ impact on home buying demand emerges.”

Figure 2: Investment Sales Volume by Sector

Investment Marketbeat Singapore Q1 2022 Table 2

“There was significant pick-up in commercial investment sales during the quarter with Q1 2022’s volumes surging to $2.6b – around 19% higher than sales volumes registered in the previous quarter,” said Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield. “This could be attributed to the conclusion of several large commercial deals in Q1 2022, which includes the sale of 55 Market Street, Cross Street Exchange and Tanglin Shopping Centre.”

The quarter’s second largest commercial investment deal involved the divestment of Cross Street Exchange by Frasers Logistics and Commercial Trust for $810.8m to PAG. The price tag represents a 28.3% premium to Cross Street Exchange's book value of $632m as of 30 September 2021. Also, 55 Market Street was recently sold to Kajima unit by AEW for nearly $287m.

“These transactions have indicated investors’ strong confidence and preference for quality assets in Singapore’s CBD amid the expected strong growth for the office market this year,” added Shaun. “Investment sales momentum is expected to stay robust this year amid stable economic growth and the gradual resumption of various economic activities.”

Investment sales volumes could surge in the upcoming quarter as various mega-deals are expected to be completed by then. One of the largest deals is Lendlease Global Commercial REIT’s (LREIT)’s acquisition of the remaining interest in Jem Mall at an agreed property value of $2.08b. LREIT currently indirectly holds a 31.8% stake in the mall. Another large deal projected to be finalized in Q2 2022 is the acquisition of 79 Robinson Road - a Grade A office building with remaining land tenure of around 45 years by CICT and CapitaLand Open End Real Estate Fund for almost $1.3b. Other deals include the merger between ARA LOGOS Logistics Trust and ESR-REIT as well as the potential sale of Golden Mile Complex via the collective sale market. Far East Organization and Perennial Holdings have made a $700m offer for the iconic development at Beach Road which was put up for collective sale in 2021 at a reserve price of $800m. 

-END-

Recent Press Releases

APAC DCIR - Card Image.png
Asia Pacific on track to overtake United States as the largest colocation data centre market before 2030

The Asia Pacific region is on track to overtake the United States as the largest colocation data centre market by both capacity and rental revenue before 2030, according to analysis from Cushman & Wakefield.

Amy Kathleen Kelly • 24/06/2025

global occupier report_CardImage.jpg
Downsizing eases as average lease sizes grow, according to global occupier report

More businesses are taking on larger leases as the era of downsizing slowly turns a corner, according to a report from global real estate services firm Cushman & Wakefield.

Amy Kathleen Kelly • 19/06/2025

APC Data Centre Construction per Capita_News Card Image.jpg
Malaysia, Thailand, Japan set pace on Asia Pacific data centre construction per capita through end of decade

Malaysia’s strong data centre development pipeline will see its population per megawatt ratio consolidate faster than any other Asia Pacific market between now and the end of the decade, with Thailand and Japan seeing the second and third fastest rates of consolidation, according to a new report from global real estate services firm Cushman & Wakefield.

Amy Kathleen Kelly • 12/06/2025

Sona Aggarwal as Managing Director_CrdImg.jpg
Cushman & Wakefield Appoints Sona Aggarwal as Managing Director, Head of Retail Sales and Strategy, Asia Pacific

Cushman & Wakefield, a leading global real estate services firm, is pleased to announce the appointment of Sona Aggarwal as Managing Director, Head of Retail Sales and Strategy, Asia Pacific.

Chek Yee Foo • 11/06/2025

skyscrapers.png
Cushman & Wakefield Strengthens its Leadership Team for Project & Development Services in Singapore and Southeast Asia

Cushman & Wakefield is pleased to announce a senior promotion and three new leadership appointments within its Project & Development Services (PDS) business across Singapore and Southeast Asia.

Chek Yee Foo • 22/04/2025

Matthew-Bouw.jpg
Cushman & Wakefield Names Matthew Bouw Chief Executive, APAC & EMEA

Cushman & Wakefield (NYSE: CWK) announced today the appointment of Matthew Bouw as Chief Executive, APAC & EMEA, effective from 1 May 2025. 

Richard Coleman • 16/04/2025

EMEA_ABSTRACT_AdobeStock_716595266.jpeg
Over US $100 billion needed to fund Asia Pacific data centre pipeline in the coming five to seven years:

APPROXIMATELY US $116 billion will be needed to build out the existing colocation data centre pipeline across Asia Pacific in the coming five to seven years.

Amy Kathleen Kelly • 27/02/2025

valuing-us-cre-environmental-performance-web-card
More pragmatic approach to esg needed to help building owners, investors, occupiers transition from brown to green

Cushman & Wakefield has launched a series of how-to guides to provide building owners and occupiers with practical, step-by-step advice on transitioning to greener buildings.

Amy Kathleen Kelly • 19/10/2023

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS