The first quarter of 2024 saw 90 auction listings, a 9.1% QoQ drop. Year-on-year, however, auction listings climbed 16.9%.Knight Frank attributed the QoQ decline to Chinese New Year festivities, which"resulted in the postponement of some auction activities and properties being put up in the listings."
Of the total listings, residential properties accounted for 47.8% or 43 of the total listings in 1Q24. Compared to 4Q23, listed residential properties were fewer by seven. In 1Q24, office properties accounted for 8.9% and industrial properties for 20.0% , a slight decline from 4Q23's figures of 10 and 20 listings, respectively.
Meanwhile, retail properties accounted for 21.1% of the overall listings, increasing slightly from the 18 three months ago....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.4. Iron Mountain Data Centers lauded at SBR International Business Awards 2024Colliers transforms Singapore office into regional powerhouse3.
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Industrial space rentals climb 1.7% QoQ in 1Q24pstrongYear-on-year, it rose 7.8%./strong/p pThe rental index of all industrial space rose 1.7% QoQ and 7.8% YoY in 1Q24, data from JTC showed./p pAll industrial assets also reported a rental index increase, led by multiple-user factories, which saw an 8.9% YoY increase.
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Singapore tops SEA in tech funding with US$604M in 1Q24pstrongHomegrown Capillary had the highest funding round during the period./strong/p pSingapore continues to lead Southeast Asian cities in tech funding, raising US$604 in 1Q24./p pBehind Singapore are Jakarta (US$85.7m), Ho Chi Minh (US$33.2m), Taguig ($32.1m), and Watthana (US$11.0m).
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Outbound Investments from Singapore Drop 54.3% in 1Q24Outbound investments from Singapore have dipped 54.3% QoQ and 94.9% YoY to $911m in 1Q24, data from MSCI Real Assets showed. Knight Frank said the drop is likely a result of market sentiment remaining “tentative and cautious.”
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Residential sector lead 1Q24 investment salespstrongThe sector accounted for 47.1% of investment deals./strong/p pResidential deals accounted for almost half of investment sales activity in Singapore in 1Q24, data from Knight Frank showed./p pThe residential sector recorded a total sales value of $2b, accounting for 47.1% of investment deals.
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Singapore's GDP Grows 2.7% YoY in 1Q24Singapore's gross domestic product (GDP) grew faster in the first quarter of 2024, increasing by 2.7% year-on-year, according to advance estimates from the Ministry of Trade and Industry (MTI). The goods-producing and services-producing industries both saw expansions, contributing to the overall growth.
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Residential sector dominates 1Q24 investment with $1.79BpstrongThe sector's investment sales, however, dropped 48.5% QoQ./strong/p pThe residential sector led investment sales in 1Q24 with $1.79b, accounting for 43.3% of the total transactions for the period./p pWhilst residential emerged as the top-performing sector, its total sales were 48.5% lower quarter-on-quarter.
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