Singapore´s property investment market for 2008 was down by 67 percent at S$17.84 billion compared to the $54.02 billion recorded in 2007, according to CB Richard Ellis’ Asia Investment MarketView Report for the second half of 2008.
“The property investment market in Singapore was subdued in the second half of the year as cautious investor sentiment took hold,” notes CBRE.
96.3 percent or $5.21 billion of all office investment sales took place in the first half of 2008 with only 3.7 percent or $199.54 million in the second half.
According to CBRE, most investors have decided to adopt a “wait and see” strategy.
The Asian investment market suffered from record low investment volume in the July to December 2008 period as banks adopt a conservative approach towards lending for property acquisition.
source : (http://www.property-report.com/em_top_stories.php?id=2268&date=040209)
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