Property investment sales top S$27b, doubling last year’s high record

Property investment sales in Singapore have reached nearly S$27 billion to date.

This is double the historical high of S$13.5 billion recorded last year.

Property consultant CB Richard Ellis says the investment market was driven by buoyant activity in real estate investment trusts.

Active acquisitions of development sites by developers in both the private and public sectors was another factor.

Transactions in the private market accounted for 83 percent or S$22.5 billion of total sales.

Residential sales made up half or S$13.7 billion of total sales by sector.

Source: Channel NewsAsia, 13 December 2006 

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