Singapore was crowned as the fourth most active commercial property market in Asia Pacific during the first half of 2017, reported the Business Times.
According to statistics published by Real Capital Analytics on Monday (7 August), transactions of commercial properties in the city-state soared by about 50 percent to US$5.8 billion (S$7.89 billion) in the six-month period.
The significant increase in overall transaction value was driven by several major deals, like sales in the en-bloc market and the purchase of Jurong Point shopping mall for S$2.2 billion.
As a result, Singapore reached its highest position in the regional rankings in five years, after the cities of Hong Kong, Tokyo and Shanghai.
This article was edited by Denise Djong.