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Investment activity in 3Q2016 driven largely by portfolio transactions, says RCA

By Tan Chee Yuen

/ Real Capital Analytics |

November 10, 2016 9:25 AM SGT

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Investment activity in 3Q2016 was driven largely by several portfolio transactions in China and Japan, according to Real Capital Analytics’ latest report.

Completed sales of properties in Asia-Pacific, excluding development sites, amounted to US$30.4 billion ($42.3 billion) in 3Q2016, down 1.1% y-o-y. Portfolio deals collectively accounted for 43% of overall volume in the region. The largest portfolio deal was Citic Group’s US$4.7 billion residential assets sale to China Overseas.

China outperformed the rest of the region with US$10 billion in direct real estate transactions in 3Q2016, up 28% y-o-y. Thus, China has overtaken Australia to become the second most active Asia-Pacific market, with one-fifth of the overall year-to-date volume in the region.

In Singapore, overall sales volume grew 54% y-o-y, driven mainly by investments in the office sector — notably, the sale of a stake in Capital Square by Keppel Land to ARA Asset Management.

Property yields in Asia-Pacific remained largely stable over the quarter. However, Australia saw a 20-basis-point decline in 12-month average yield in 3Q2016 to reach its historic 2007 low.

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