Along with improving economic indicators, preliminary real estate investment volume in Singapore increased by 15.7% q-o-q, to $3.248 bn for Q4 2020, a second consecutive quarter of increase.
Despite the ongoing downsizing exercises, preliminary estimates for Q4 2020 indicators seemed to suggest that the reduction in occupied space has slowed.
The business park market continued to deliver a resilient performance towards the end of 2020 and registered its second consecutive quarter of positive net absorption.
There was greater positivity in the retail market with shopper traffic recovering to about 60% to 80% of pre-COVID-19 levels.
Sales momentum and price growth carried through to the final quarter of the year. Market sentiment and buyer’s confidence remained strong, undeterred by the woes surrounding the pandemic.
Leasing activity in Q4 2020 saw an uptick from the preceding quarter, on the back of improved global demand for pharmaceuticals and electronics.