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Property investment sales triple in Q3 on-quarter to S$2.3b

Posted on 8 Oct 2009 | Comments Off

Property consultancy DTZ said on Thursday investment sales here tripled in the third quarter of this year.

Total property investment value in the July to September period jumped 200 per cent on-quarter to S$2.3 billion.

Historically though, the figure is still below the S$4 billion to S$12 billion mark achieved quarterly between 2005 and 2008.

DTZ attributed the increase in investment sales in the third quarter to a buoyant residential market and improving investor sentiment.

About 92 per cent of the investments were below S$100 million each, and they contributed 49 per cent of total transaction value.

Six deals of between S$100 million and S$500 million made up S$1.2 billion, or 51 per cent, of total sales.

DTZ said investment purchases continued to be driven by mainly private domestic buyers, who accounted for 72 per cent of deals above S$50 million.

Excluding Government Land Sales, the largest transaction so far this year was the sale of Swissotel Merchant Court at S$260 million in August.

Source : Channel NewsAsia – 8 Oct 2009

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Tagged Investment Sales, Property Investment Sales, Singapore Investment Sales, Singapore Property, Singapore Property Market

Q3 investment sales up 13%; Ghost Month auction sales soar

Posted on 17 Sep 2009 | Comments Off

In both cases, the residential sector accounts for the biggest share

PROPERTY market sentiment continues to ride high, with preliminary data showing third-quarter investment sales up by 13 per cent from Q2. Q3 data to date shows investment sales totalled $1.83 billion, Jones Lang LaSalle (JLL) said yesterday.

Separately, Colliers International said that 14 properties have been auctioned for a total of $25.92 million during the Hungry Ghost Month – the highest amount in three years. Auction sales surpassed last year’s $22.75 million, a significant $13.81 million of which came from four Singapore Land Authority sites.

Investment sales rose in the latest Q3 as the residential market continued to flourish. The sector accounted for 52 per cent of total investment sales, or $958 million. For instance, 24 Good Class Bungalows were transacted for a total of $413.5 million. And there were 47 other landed residential transactions worth more than $5 million, for a total of $408 million.

The GCB market has seen increased activity as more owners put their property up for sale to cash in on current high levels of interest and prices.

In a sign of the tougher economic times, most investment transactions in Q3 were concluded below $100 million. The exceptions were two large commercial transactions involving real estate investment trusts (Reits). Suntec Convention Centre was injected into the ARA Harmony Fund, a fund in which Suntec Reit has a 20 per cent stake, for $235 million. And K-Reit bought six floors of its partly owned Prudential Towers for $106.3 million. Continue reading →