Singapore’s cross-border investments in Asia Pacific commercial real estate dropped to under US$400m in the first quarter, tracking a regional downtrend, according to JLL.
Last quarter’s showing represented a sharp drop from a year ago when Singapore booked more than US$1.6b in cross-border property deals in APAC in the first quarter of 2023, which made the Lion City the top source of cross-border capital at that time. “Investor caution and pricing uncertainties continued to keep cross-border activities modest,” JLL said.
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