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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

Total land sales revenue down by 41% to S$7.3b in FY2008-2009

Posted on 8 Oct 2009 | Comments Off

Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009.

But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble.

Showflats have been packing in the crowds for many months now.

Demand for land has also picked up, with more plots released for tender since April this year.

Analysts expect demand for land to grow in 2010 on the back of more positive market sentiment and developers looking to beef up their land bank.

In the first quarter next year, observers said the government could release more strategic sites at Jurong Lake District, Kallang Waterfront and Rochor/Ophir Road.

And when the government brings back the Confirmed List of sites in the first half of next year, more land will be on the market.

According to market watchers, the net effect is that revenues from such sales are likely to stay around S$7 billion in the current fiscal year to March 2010, similar to last year. Continue reading →