Singapore Real Estate Investments 75 Q O Q 3q2025 Reit Activity Picks Knight Frank

RENew report by Knight Frank Singapore reveals that despite global economic uncertainties, the real estate market saw an increase in investment sales in the last quarter. According to the report, $10.5 billion was recorded in investment sales in the third quarter of 2025, a 7.5% increase from the previous quarter’s $9.8 billion. This also marks a 23.8% surge from the same quarter of the previous year.Private sales remained the main source of real estate transactions, accounting for $6.3 billion or 60.5% of the total sales value. The largest private sale deal was the acquisition of the remaining 55% stake in CapitaSpring by CapitaLand Integrated Commercial Trust from CapitaLand Development and Mitsubishi Estate Co for $1 billion. Public real estate investments mainly consisted of Government Land Sale (GLS) tenders, which contributed $4 billion to the total investment sales. This includes the award of eight GLS sites, including four residential sites, one mixed-use commercial and residential site, and three executive condo (EC) sites.Read also: Four in ten Apac real estate investors now willing to pay premium for sustainable assets: JLL surveyAdvertisementAdvertisementResidential investment deals totaled $4.2 billion last quarter, more than double the $1.8 billion recorded in the previous quarter when only two GLS sites were awarded. Commercial assets contributed $2.6 billion to the total investment sales, with the notable deals being the sale of Jem’s office component by Lendlease Global Commercial REIT for $462 million and the sale of Kinex by UOL Group for $375 million. In the industrial sector, sales reached $2.5 billion, representing a 46.1% jump from the previous quarter. This was largely driven by Centurion Accommodation REIT’s acquisition of five purpose-built workers’ accommodations for a combined total of $1.3 billion. Other notable deals in this sector include CapitaLand Ascendas REIT’s divestment of five industrial and logistics properties for $329 million.Hotel investment activity was muted in the third quarter, with only one transaction recorded – the sale of Hotel Miramar for $160 million. This represents a 72.7% decrease from the $585.8 million in hotel investment sales in the previous quarter. In the collective sale market, only one transaction was recorded – the sale of Chiku Mansions in District 15 to Macly Group for over $22 million.Looking ahead, Knight Frank predicts that GLS tenders and REIT activity will continue to support investment sales in the fourth quarter of 2025 and 2026. “Aside from S-REIT activity and developers participating in residential GLS tenders, investment sales generally remain limited to ticket sizes of under $200 million,” says Galven Tan, CEO of Knight Frank Singapore.Read also: Knight Frank appoints Apac head of capital marketsAdvertisementAdvertisementDespite the smaller deal sizes, investor demand remains strong, according to Tan. Knight Frank expects full-year real estate investment sales to hit the higher end of their forecast range of $27 billion to $29 billion for 2025.

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