According to Colliers’ Global Capital Flows report, Singapore ranked as the second most attractive cross-border destination for land and development investments in 2024, with US$1.49 billion ($1.99 billion) invested in the local real estate market.
China remains the top destination for cross-border real estate investment, with US$29.1 billion pouring into the country last year. Meanwhile, Germany and Australia took third and fourth place in the global rankings, respectively, with US$1.02 billion and US$1.01 billion in investments.
In addition to being a top destination for capital investment, Singapore-based investment firms were the fourth strongest source of cross-border capital flow into other real estate markets, with a total outflow of US$8.9 billion in 2024.
“Singapore’s strategic positioning and robust investment appeal have solidified its status as a global capital hub,” says Bastiaan van Beijsterveldt, managing director at Colliers Singapore. “As we navigate 2025, Singapore remains a beacon for investors seeking growth and stability in the vibrant Asia Pacific region”.
The US was the top source of cross-border real estate investment capital, contributing US$48.48 billion, followed by Canada and the UK at US$19.7 billion and US$10.78 billion, respectively.
Over two years in the Asia Pacific region, five real estate sectors drew in the most interest from investors, led by the office sector which collected US$57 billion, followed by industrial assets (US$55 billion), retail (US$37 billion), multifamily properties (US$17 billion), and hospitality (US$15 billion).
“As a global capital hub, Asia Pacific’s diverse investment appeal is undeniable,” says Chris Pilgrim, Colliers managing director of Global Capital Markets, Asia Pacific. The region’s strategic positioning and growing influence underscore its pivotal role in shaping the global investment landscape, he says.
This year, yield spreads across all regions globally are expected to align to similar levels, which will enable the broader development of domestic and cross-border capital, says Pilgrim. Real estate markets in Europe, the Middle East and Africa (EMEA), as well as the Asia Pacific region, could be the main beneficiaries of an expansion in global cross-border investment activity amid a stronger US dollar this year.
