FAMILY offices in Singapore and Asia-Pacific (Apac) are eager to raise their real estate stakes despite macroeconomic uncertainty, according to a Knight Frank report.
“There is a huge, sustained interest in real estate investment from private capital, with 44 per cent of global family offices indicating they are looking to increase allocations to the sector,” said the report.
The report surveyed 150 family offices, with 51 per cent headquartered in Apac, as well as other regions such as Europe and the Americas. There was “strong representation” from Singapore, Hong Kong, London, New York and other major cities, the report found.
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Real estate investment appetite is growing among family offices as the sector offers both growth and wealth preservation, the report added.
In the past 18 months alone, 28 per cent of family offices ramped up their real estate allocations, while only 17 per cent reduced theirs, according to the report. Some 44 per cent are looking to expand real estate exposure in the next 18 months despite macroeconomic concerns, and only 10 per cent intend to lower theirs.
Just last year in Singapore, family offices made big ticket acquisitions that were traditionally hunting grounds of institutional players and developers, said Galven Tan, chief executive officer of Knight Frank Singapore.
Source: The Business Times
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