A STRONG revival in property sentiment has propelled real estate investment sales in Singapore to surge in the second quarter to hit a total of $1.35 billion, according to latest statistics in a report by Colliers International.
This was the highest level achieved since the third quarter of last year, said the property consultancy firm yesterday.
The residential sector made up the bulk of the activity, chalking up some $887.13 million, or 65.8 per cent of the pie.
Besides the flurry of individual transactions in properties such as bungalows and luxury apartments, Colliers attributed the strong showing to the resurgence of en bloc commercial deals.
In particular, the sale of Anson House, Parakou Building and VTB Building has chalked up total sales of $237.38 million during the quarter.
The buildings are bought respectively by a group of high net worth individuals, a Cathay Organisation unit and a joint venture between Yi Kai Continue reading
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