Singapore has secured ninth position on a list of 25 cities which have gained the most real estate investment, comprising industrial, office, hotel, retail and serviced apartment properties but excluding development sites.
According to Cushman & Wakefield’s latest report, the country has attracted US$10.8 billion of investment in the 12 months to the third quarter of 2011, up 87.2 percent from the same period last year.
New York took first spot with US$29.7 billion in investments, followed by London with US$27.2 billion of investments.
In the global ranking for attracting foreign real estate investment, London topped the list with US$14.2 billion invested in the year to Q3 2011, followed by Paris and New York.
Singapore took fourth spot, with US$3.9 billion of foreign property investment, up 63.4 percent year-on-year.
“With economic uncertainty and financial risks both impacting further on sentiment in recent months, momentum has slowed in the market, but supply levels are up in some markets, notably of late London, and strong activity is expected to be maintained, albeit with deals taking longer to close as due diligence remains high,” the report said.
In addition, London emerged as the top city for global office property investment with US$18.9 billion of transactions, while Singapore was on top with US$3.65 billion in industrial property investments in the year to Q3 2011.
In the hotel segment, Singapore secured eighth place with US$1.3 billion in deals.
“Singapore is the No 1 port in the world for container throughput, closely followed by another five cities all based in Asia – Shanghai, Hong Kong, Shenzhen, Busan and Guangzhou. Singapore ranks No 4 globally as a financial centre,” said John Stinson, Managing Director of Capital Markets at Cushman & Wakefield (Asia Pacific).
“There is no doubt that economic, social fabric and culture (goals) combined with investor sentiment place many Asian cities in the top global ranking with Singapore winning gold in many surveys.”
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