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A Strong Recovery Expected in 2021 | Investment Sales Q4 2020

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Colliers Research Singapore - Investment Sales Quarterly Report Q3 2020 - Regaining Investment Momentum

Investors should turn their focus on assets with long-term growth drivers, such as high-spec industrial spaces and CBD office buildings with income or redevelopment potential.

Report highlights:

  • Overall real estate investment sales in Singapore trebled quarter-on-quarter (QOQ) and doubled year-on-year (YOY) to S$14.4 billion (US$10.9 billion) in Q4 2020, mainly on a REIT merger.

  • Residential investment sales in Q4 jumped 92.6% QOQ and 94.2% YOY, largely due to the revival of public and private land sales, including two collective sales.
  • CapitaLand Mall Trust (CMT) acquires CapitaLand Commercial Trust (CCT')'s six office and two mixed-use developments on their merger, which played a part in the surging of commercial investment sales in Q4, at 228% QOQ and 509% YOT to S$8.69 (US$6.57) billion.
  • Industrial investments sales in Q4 saw a decline of 9.3% QOQ and 82.1% YOY, due to ESR REIT's proposed merger with Sabana REIT falling through.


With more tech companies setting up hubs and a global economic recovery, investment sales volumes are looking to pick up further in 2021, as Singapore continues to remain a favourable investment destination.

Download Colliers' quarterly report on the real estate investment sales market in Singapore for Q4 2020 as we examine the latest shifting trends, with expert recommendations and outlook for real estate investors.

Read the press release here.

2020 Singapore Investment Sales Quarterly Report Colliers 1024x1024

A Strong Recovery Expected in 2021 | Investment Sales Q4 2020

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Related Experts

Jerome Wright

Senior Director


Colliers Singapore, Senior Director and Team Leader of CMIS - Capital Markets. As the head of Capital Markets and Investment Services for Commercial, Jerome provides strategic investment advisory and brokerage services to clients, focusing on investment-grade properties. He delivers clients so that they can maximise all real estate investment opportunities in Singapore

Jerome has over 15 years of real estate experience in the field of corporate commercial investment & leasing in Singapore, and the UK. MRICS and CEA qualified, I have extensive transactional and mediation experience acquired principally in the Singapore market advising both investor/developer clients and occupier clients. Prior to joining Colliers, Jerome was Director, Commercial Leasing at an international real estate agency firm where he oversaw large projects, providing blue chip corporate clients with strategic advice to fulfill their real estate needs in Singapore.

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Steven Tan

Senior Director


Steven has over 25 years in the real estate business and progressed through various roles in this industry from property management to valuation and auction then into investment sales to leading the  non-institutional capital markets – added to his original role as head of the auction team in Colliers Singapore.

Steven is known to preserve a close relationship with his clientele who are High Net-worth individuals - known in the local as Tow Kay (big boss in local dialect), investors from all walks of life and business partners big and small, making him the leading choice to head the non-institutional capital markets.

Steven was lauded for brokering the first freehold industrial sale in the year 2020 for 190 Macpherson Road at $88m. His other notable and worth-mentioning deals include the collective sale of 2-24 Phoenix Road at $42.6M which was sold above its reserved price and another industrial building (food factory) at 200 Pandan Loop at $56.8M.

Steven also qualified as a licensed appraiser with the Inland Revenue Authority of Singapore, a member of Singapore Institute of Surveyors and Valuers (MSISV) and member of Royal Institute of Chartered Surveyor (MRICS).


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WeiLeng Tang

Managing Director


WeiLeng is the Managing Director of Colliers in Singapore and is responsible for the business's growth strategy and direction. As an enterprising real estate service solutions provider, she currently leads a team of experts advising clients on their business space requirements, property investment choices, the managing and driving of their asset performance, as well as valuing their assets.  

Capital Markets is her expertise. Her first foray into real estate began nearly three decades ago when she was headhunted by government service. She has since accumulated a wealth of experience in selling buildings, hotels and development land. She sold her first office building at 20 Malacca Street at Raffles Place – just barely one year into her new role. That same relentlessness saw her through many more deals, some bigger others smaller. Over the years, she has developed an excellent network and invested in strong relationships.


She often gets the question "What drives you?", which she usually answers "the inexplicable joy I see on my clients' face when I close a deal!". By building trusted relationships, she has successfully entered into joint ventures with both CapitaLand and City Developments Limited (CDL), during her stint on the buy-side with Wells Fargo (then Wachovia Real Estate).


She considers the undertaking of the Singapore office's leadership role as a significant career progression for her. Together with her team of experts, they have multiplied their profitability by six-fold since 2016, and the team continues to collaborate with colleagues across markets to deliver strong results for shareholders.

Having three daughters of her own that are coming of age, she understands her people's aspirations and recognizes the acceleration of success of her people as one of her key focuses, where she mentors and nurtures them in becoming the next generation of leaders.

Colliers has given her tremendous space to accelerate her success, and she would like to accelerate yours too. Connect with her today!

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Tricia Song

Director & Head


Tricia Song is a Director and the Head of Research at Colliers International Singapore. Ms Song brings with her more than 17 years of experience in real estate equity research and capital markets in Singapore and ASEAN. Before Colliers, she was the lead analyst for the Singapore Real Estate and REITs sector at Equity research at Barclays Bank PLC and before that at Credit Suisse, HSBC, CIMB-GK, and UOB KayHian. She was the lead analyst on various IPO pre-deals such as Ananda Development, iREIT Global and CapitaMalls Asia.

She also has prior experience in private equity, working on M&A deals in Asia Pacific at Newbridge Capital. Ms Song graduated with a Bachelor of Business Studies (Honours) degree from Nanyang Technological University, Singapore.


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