Property News · March 29, 2018

Strongest first quarter on record for Singapore investment sales


Residential collective sales dominate with $5.83 billion worth of deals.
Property investment sales in Singapore saw its best ever first quarter, reaching a staggering $10.84 billion in Q1 2018, according to preliminary figures from JLL.
This is up a significant 95.2 percent from the $5.55 billion recorded in the first three months of last year.
The residential sector accounted for the lion’s share of deals at $8.93 billion, or more than 80 percent of the quarter’s total investment sales value.
A surge in land banking activity amid the property market recovery boosted residential investment sales, with developers scooping up 26 residential sites totalling $7.27 billion in the quarter.
The residential collective sales market dominated with 17 deals amounting to $5.83 billion, while the sale of four land sites in state tenders contributed a further $1.24 billion.
Tay Huey Ying, head of research and consultancy at JLL Singapore, said: “We expect overall property investment sales activity to stay elevated in 2018, bolstered by developers’ continued land banking activities.”
 
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Source : proppertyguru.com.sg/Property Market
Read more…Strongest first quarter on record for Singapore investment sales

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