CBRE recently announced the appointment of Michael Tay as the new deputy managing director of Singapore Advisory, effective Jan 1, 2025. This news was released on November 27, and Tay’s current role as Singapore’s head of capital markets will remain in place. He will continue to report to Moray Armstrong, who is CBRE’s managing director for Singapore Advisory.
When it comes to investing in condos in Singapore, one important factor to consider is the government’s property cooling measures. Over time, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they also contribute to the long-term stability of the market, creating a more secure investment environment. In addition to these measures, staying updated on new condo launches can also help investors make informed decisions about their investments. By taking into account both the government’s regulations and the latest developments in the market, investors can ensure they are making sound and profitable condo investments in Singapore.
According to CBRE, Tay’s new role as deputy managing director will involve providing long-term leadership and planning for the Singapore advisory business. He will work closely with Armstrong to devise strategies, assess and execute investments, such as M&A opportunities, and drive business growth.
Armstrong recognizes Tay’s expertise and experience in the commercial real estate industry, saying that he is one of the most seasoned professionals and thought leaders in the Singapore market. Armstrong adds that this is a result of Tay’s 30-year career progression from office leasing to leadership roles across office services and capital markets at CBRE.
Tay joined CBRE in early 2000 and has since been an integral part of the office services team for nearly two decades. During this time, he has worked with major office building owners and notable occupiers. In 2019, Tay was appointed to lead the Singapore capital markets team, which has played a crucial role in several significant investment deals in the country. This includes the sale of noteworthy properties like One George Street, 16 Collyer Quay, and VisionCrest Commercial.
In a statement, Tay expressed his gratitude for the trust placed in him and the career growth opportunity provided by the company. He describes his 25-year journey with CBRE as amazing and emphasizes how he has honed his experience by working and learning from some of the leading real estate professionals in Singapore.