By Romesh Navaratnarajah:
The residential market in Singapore dominated investment sales, contributing 54 percent of total transactions in Q2 2012, according to a report by Savills Research.
As for total investment sales, the consultancy said it grew 52.4 percent from S$ 4.9 billion in Q1 to S$ 7.4 billion in Q2.
The public sector accounted for 41.7 percent of all investment sales at S$ 3.1 billion.
Under the Government Land Sales (GLS) Programme, a total of S$ 2.9 billion sales were recorded with 15 state land parcels sold.
Meanwhile, investment sales in the private sector bounced back with transaction values climbing 59.9 percent quarter-on-quarter.
“Transaction volume in the commercial segment boosted 123.7 percent quarter-on-quarter to S$ 2.3 billion,” added the report.
“In the near term, the investment market may hit a plateau given the worsening macro conditions and a squeeze on buyers’ financing.”
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