A ground-floor strata-titled shophouse unit at 35 Seah Street has been put up for sale via an expression of interest (EOI) exercise at a guide price of $8.8 million, according to joint marketing agents Huttons Asia and PropNex Realty. 

Situated in Singapore’s Civic District, the property is home to its famous anchor tenant, Sing Swee Kee Chicken Rice, which has been operating since 1991. The 999-year leasehold property spans 1,442 sq ft, which translates to a price of $6,103 psf based on its floor area. 

According to a Nov 4 release, modern Chinese artist Wong Yee Heng was commissioned to produce a painting as part of the recent Singapore SG60 celebrations, commemorating the historical significance of the location. 

“Properties along the historic Hainan First, Second, and Third Streets are exceptionally tightly held and seldom available for sale,” says Gillian Chee, associate group director of PropNex Realty. Based on URA caveats, just four transactions have been recorded along Seah Street over the past 30 years.

Modern Chinese artist Wong Yee Heng was commissioned to produce a painting as part of the recent Singapore SG60 celebrations (Photo: Wong Yee Heng)

According to the press statement, the last comparable transaction within the area was a Liang Seah Street shophouse. The property sold for $14.2 million on July 22, or approximately $12,576 psf based on its land area of 1,129 sq ft. 

Liang Seah Street, Seah Street and Peck Seah Street are named after members of the Seah family, early business pioneers in Singapore.

“This heritage-rich enclave, right opposite the iconic Raffles Hotel, has seen remarkably limited turnover, with only 12 shophouse transactions recorded in the broader Downtown area over the past decade, compared to nearly 100 in Rochor,” notes Chee.

Yeo Khee Liang, associate senior marketing director of Huttons Asia, adds that the area’s diverse selection of boutique hotels, restaurants and lifestyle venues is expected to cater to an international audience, which will “ensure healthy leasing demand and the ability to attract premium tenants”. 

The EOI exercise will close on Dec 18.

In 3Q2025, Asia Pacific commercial real estate investment volumes hit a record high of US$63.8 billion ($82.65 billion), marking a 56.8% y-o-y rise from 3Q2024. On a quarterly basis, investment activity within the region surged by 49.1%, says Knight Frank in its Asia-Pacific Capital Markets Insights report released on Oct 28. 

The agency attributes the surge in commercial real estate investment to several large entity-level transactions and the completion of deals after extended due diligence periods.

"3Q2025’s record US$63.8 billion transaction volume marks a genuine market revival in Asia Pacific, driven by policy clarity and capital rate stabilisation,” says Christine Li, head of research of Asia-Pacific at Knight Frank. “Investors are shifting from cap rate compression strategies to external factors such as active asset management and income growth.”

During the quarter, cross-border investment in the region reached US$17.8 billion, rising 72.1% q-o-q and 28.6% y-o-y, underscoring Asia Pacific’s renewed attractiveness to global investors, says Knight Frank. 

This was led by Australia, which saw the highest volume of cross-border capital at US$5.0 billion, mainly targeting the living and industrial sectors.  This was followed by Japan with US$3.5 billion, concentrated in office and multi-family assets, while South Korea saw US$2.3 billion in cross-border investments, primarily invested in industrial and office properties. 

“What is particularly encouraging is the breadth of activity,” notes Dan Dixon, head of capital markets for Asia-Pacific at Knight Frank. “We see strong deal flow across offices, industrial, and living sectors, reflecting genuine structural demand rather than opportunistic plays."

Overall, investment activity rose across the majority of asset classes in 3Q2025, with office transactions at the forefront, totalling US$23.7 billion in investment volume. This marked a 64.2% y-o-y increase. Knight Frank anticipates further growth in office rental and capital values, driven by limited new supply in key CBD locations.

Hotel transactions also saw an uptick of 67.7% y-o-y, posting investment volumes of US$6.2 billion within the quarter. 

That said, industrial and retail volumes declined 3.7% y-o-y and 13.4% y-o-y in 3Q2025, respectively, as investor sentiment remained cautious amid global trade uncertainties.

In terms of growth, South Korea led the region, recording a 93.6% y-o-y increase to US$14.3 billion in transactions. This was driven by office assets, which accounted for 70.9% of the country’s total investment volume. Notable transactions include the acquisition of Pangyo Tech One Tower, which achieved a record transaction price of US$1.42 billion. 

The Chinese mainland secured second place with US$13.5 billion in investment volume, up 29.9% y-o-y. Data centres accounted for one-third of total volume activity, following Bain Capital’s divestment of data centre operator WinTriX DC Group’s Chinese mainland business to a consortium led by Guangdong Hec Technology for US$3.9 billion.

Meanwhile, Singapore posted US$3.8 billion in investment capital, up 28.6% y-o-y. According to Knight Frank, this was led by the completion of several large-scale transactions. This included the sale of Jem’s office component by Lendlease Global Commercial REIT, which was sold for US$356 million to Keppel Land. 

Singapore posted US$3.8 billion in investment volume, up 28.6% y-o-y, driven by the completion of several large-scale transactions. Key transactions included Lendlease Global Commercial REIT’s US$356 million sale of Jem’s office component to Keppel Land, and UOL Group’s US$292.3 million divestment of Kinex to Kinex Times Square and Xiaohong Property Management.

Looking ahead, the agency expects investment momentum across the region to remain steady in 4Q2025, boosted by “clearer monetary policy direction and improved liquidity”. 

Despite dampening investor sentiment following recent US tariffs on China, the performance in 3Q2025 reflects underlying market strength, says Knight Frank. 

Li notes that industrial and retail sectors may encounter near-term headwinds due to upcoming policy changes. 

“Amid this capital re-allocation phase, Japan stands out as a policy-anchored beneficiary,” she adds. “Its yield spreads remain comparatively attractive, and despite gradual monetary tightening, rental fundamentals are supported by sustained urbanisation.” Li highlights that international investors are increasingly drawn to multifamily and logistics assets in Greater Tokyo and Osaka, supported by the country’s inflation-hedging traits and relative stability amid a volatile global environment.

A Good Class Bungalow (GCB) located within the Dalvey Estate GCB area is up for sale by tender with a guide price of $47 million. 

The freehold property occupies a plot measuring approximately 15,555 sq ft. Based on the land area, the guide price works out to around $3,022 psf. 

The Victorian-style property comprises two storeys, says exclusive marketing agent Knight Frank. The first floor features living and dining areas, a kitchen, a storage room, and a guest room with an en suite bathroom. Upstairs, four en suite bedrooms, a family hall, pantry and common bathroom occupy the second floor. The property also comprises a garden, a large car porch and a covered swimming pool. 

The property is located within 1km of several prestigious schools such as Singapore Chinese Girls’ School (Primary) and St. Joseph’s Institution. It is also within walking distance of the Singapore Botanic Gardens and just a few minutes’ drive from the Orchard Road shopping belt.

GCBs in prime areas including Nassim Road, Cluny Hill and Dalvey Estate continue to attract strong demand, particularly from ultra-high-net-worth individuals seeking long-term residences in Singapore, says Mary Sai, executive director of capital markets at Knight Frank Singapore. “Such assets remain a top choice for legacy planning and wealth preservation,” she adds. 

The property is situated within Dalvey Villas, along Dalvey Estate in prime District 10. It is located near other GCB neighbourhoods, including Gallop Park, Leedon Park, and White House Park, which saw several notable transactions, says Knight Frank. 

These transactions include a GCB at Leedon Park, which sits on a 15,636 sq ft freehold plot, and was sold for $45.8 million ($2,929 psf) on March 26. At White House Park, a detached house occupying a 15,176 plot changed hands for $40 million ($2,636 psf) in April. 

Meanwhile, the most recent deal for a landed property in Dalvey Estate was the sale of a GCB in September. The property spans a land area of 21,882 sq ft, and was sold for $60 million, or $2,742 psf. 

The tender is expected to close on Dec 6 at 3pm. 

Japanese developer Samty Holdings has announced the sale of two investment pools of multifamily assets developed and owned by the firm. In a Sept 2 release, Samty says the assets were sold to international sovereign wealth funds. Samty will remain as the lead asset manager of both investment pools. 

The investment pools encompass 30 newly-built multifamily assets with a gross asset value of JPY49 billion ($0.43 billion), with 70% located in Tokyo, Osaka and other major cities within Japan. 

The first investment pool consists of eight assets that will be managed solely by Samty, while the remaining 22 assets will be co-managed by Samty and Japan real estate investment management firm Alyssa Partners.

The deal marks the latest milestone for Samty since its privatisation. In January, global investment firm Hillhouse Investment Management, together with its real asset investment arm, Rava Partners, completed the buyout of Samty, which had been listed on the Tokyo Stock Exchange. 

Hillhouse owns Samty alongside Daiwa Securities, Samty’s previously largest shareholder, which retained its shares in the company pursuant to the buyout.

In July, Samty announced the closing of its first hotel-focused private real estate fund, with equity totalling JPY17 billion.

According to Yasuhiro Ogawa, president and CEO of Samty Holdings, the sale of the two investment pools reflects investors’ recognition of opportunities arising from the firm's transformation into an investment platform. 

Joe Gagnon, the co-head at Rava Partners, adds that Samty is tapping into robust investor demand for Japanese multifamily assets, while also proving its ability to scale in the accommodation sector. “Following the recent close of their hotel-specific fund, this latest news means that we have cumulatively raised more than JPY100 billion in a short time span,” he says.