Singapore‘s property market is continuing to see strong investment sales.Property consultants CB Richard Ellis said the Singapore property market saw more than S$19 billion worth of investment deals so far this year, outstripping the S$13.5 billion for the whole of 2005.For the first six months alone, more than S$13 billion worth of investment deals were recorded.
This is thrice the S$3.6 billion recorded during the same period last year, making the Singapore’s market one of the most active in Asia.
The S$2.2 billion acquisition of Raffles City by CapitaMall Trust and CapitaCommercial Trust was the largest investment deal in Asia during the first half of 2006.
CB Richard Ellis said this was another positive sign of Singapore’s strong economic growth and good investment potential.
The private sector accounted for 85 percent of the sales in Singapore during the first half of the year.
CB Richard Ellis notes that elsewhere in Asia, local and overseas investors were active this year – with a heavy focus on Tokyo and Hong Kong.
It added that the property markets in China and India continued to generate significant investor interest.
Source: Channel NewsAsia, 31 August 2006