Singapore’s real estate investment market saw a significant boost in Q3 2025, with total investment sales reaching S$10.5 billion, according to Knight Frank Singapore’s latest report. This represents a 7.5% increase from the previous quarter and a 23.8% rise compared to the same period last year. The surge is attributed to robust private sales, which accounted for S$6.3 billion, driven by major transactions such as CapitaLand Integrated Commercial Trust’s S$1b acquisition of a 55% stake in CapitaSpring.
The residential sector also experienced growth, with sales totalling S$4.2b, largely due to the award of several Government Land Sales (GLS) sites. In contrast, the commercial sector saw a decline, with sales dropping 51.4% quarter-on-quarter to S$2.6b. Notable transactions included the sale of the office component of Jem and KINEX mall.
Industrial sector sales strengthened, reaching S$2.5b, a 46.1% increase from the previous quarter. Key deals included Centurion Accommodation REIT’s acquisition of worker accommodation assets for S$1.3b. Meanwhile, the hospitality sector saw a decline, with only one major transaction—the sale of Hotel Miramar Singapore.
Looking ahead, Knight Frank anticipates continued activity in GLS tenders and REIT listings, with the investment market expected to close the year at the higher end of the forecast range of S$27b to S$29b. However, the lack of new office development sites in Singapore’s CBD remains a concern, potentially leading to future supply constraints.
