![](png/declinefec9.png)
Outbound Singapore investments drop 62% to S$2.7b in Q3
Blame it on rising interest rates and market uncertainties.
A recent report from Knight Frank said Real Capital Analytics (RCA) data revealed outbound investment from Singapore amounted to a total of S$2.7 billion, a decrease of 36.4% q-o-q and 62.0% y-o-y, as sentiment turned muted due to escalating borrowing costs negating positive carry from property income streams, ongoing geopolitical tensions, and market uncertainties.
“In the third quarter of 2023, a few noteworthy deals included the purchase of interests in 25 freehold residential assets in Japan by CDL for S$321.9 million and the acquisition of a data centre in the United Kingdom by CapitaLand Ascendas Reit for S$209.4 million,” added Knight Frank.