Property investment sales triple in Q3 on-quarter to S$2.3b

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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