Investment by Family Offices in Commercial and Residential Property Pre- and Post-COVID-19 Pandemic

Mr Desmond Choo asked the Minister for National Development (a) what is the total investment by family offices from 2020 to 2022 in commercial and residential property; and (b) how is this compared to the three years before the COVID-19 pandemic.

Mr Desmond Lee: Based on available data, there were only four commercial property transactions and no residential property transactions attributable to family offices over the past six years. These purchases form around 0.04% of the total commercial property transaction value over the past six years.