Singapore Surpasses China as Largest Asian Investor in U.S. CRE

Connect Commercial Real Estate – China is no longer the biggest Asian investor in U.S. commercial real estate. Last year, Singapore took over the top slot, according to research by Real Capital Analytics (RCA) and Cushman & Wakefield.

It marks the first time since 2012 that China was outspent by the city, and largely reflects the regulatory changes mandated by the Chinese government. The crackdown caused China’s deal volume to plunge 66% to $5.9 million.

Singapore’s global investments in commercial real estate rose by roughly 40% to $28.4 billion in 2017. CBRE anticipates a similar trend will occur this year, as Singapore’s institutional investors continue diversifying abroad and China maintains capital controls.

Nearly three-quarters of the $9.5 billion in Singaporean CRE activity was driven by sovereign wealth fund GIC Pte, which acquired such properties as 60 Wall Street in New York, as well as a student housing portfolio.

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