Property deals in Singapore are projected to grow by as much as 16 percent this year as the ongoing rebound in tourism spurs dealmaking in the hotel and retail sectors, according to Knight Frank.
It said hotels and retail assets are likely to garner attention from investors as the volume of tourist arrivals continues to bounce back from pre-COVID levels. The firm’s data showed the volume of assets that changed hands in the first quarter plunged by more than a quarter to $4.3b from $5.8b in the fourth quarter of 2023. Year-on-year, this was 4.4% lower than the $4.5b booked in the same three-month period last year.
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