Singapore economy expected to recover: JLL

Published:Dec 1, 202310:44
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Direct real estate transactions on the rise despite low volume in 2020.

Singapore's economy is expected to recover as the intra-regional travel and expansion of finance, technology and asset management firms from China and other countries continue, according to JLL.

According to the JLL Capital Tracker, trends in 2020 include investors from core funds, family offices and technology companies acquiring assets in Singapore. Some freehold assets that seldom trade were sold in 2020, achieving record pricing.

“We expect deal flow to be higher as large assets could be made available; Singapore REITs may sell non-core assets as they expand internationally,” according to the report.

JLL, however, warns that Singapore is highly dependent on global trade and therefore would be sensitive to global slowdown if the pandemic worsens or the US-China tensions escalate.

On the whole, JLL predicts that Asia Pacific direct real estate transactions will rise by 15%-20% in 2021.
 



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