Investment sales for residential property in Singapore have fallen 30.8 per cent in a single quarter, with analysts attributing the dive to the slew of cooling measures introduced by the Government in August. According to a report issued yesterday by property consultancy Colliers International, the third quarter saw a total value of $3.74 billion in residential investment sales, well below the $5.4...
Investment Sales
Commercial real-estate investment volumes in the Asia-Pacific increased by 8 per cent in the third quarter of this year to US$29.6 billion ($38.4 billion), according to DTZ Research. The real-estate research house said that volume growth would remain strong for the remainder of this year - and into next year, with investment predicted to hit US$145 billion next year. That would be a 12-per-cent increase...
About US$280 billion ($362 billion) of capital will be available to invest in global commercial real estate next year, with the United States market drawing the most buying interest as it bottoms out, according to property consultant DTZ DTZ said the estimated available capital for 2011 would be 22 per cent up on a forecast it made in December, with US$97.4 billion (up 54 per cent) for the US; US$111.8...
Singapore's property investment market surged in the third quarter, rising on the back of a buoyant office sector. Property consultant DTZ said total investment sales in the third quarter totalled S$6.1 billion, up by some 23 per cent from the previous quarter's S$5 billion. A rebounding office sector helped transactions in office properties to cross the S$1 billion mark, a level not breached since the...
Chevron House at Raffles Place has been sold for $547 million to a fund management Deka Immobilien of Germany, taking the total value of Singapore office investment sales deals this year to around $3 billion. The price works out to around $2,083 per square foot based on the net lettable area (NLA) of 262,650 sq ft. Formerly known as Caltex House, Chevron House is a 33-storey building on a site with a...
The property investment market in Singapore recorded S$5.91 billion in sales for the third quarter of 2010. This is an 86 per cent on-year growth, according to property research firm Jones Lang LaSalle (JLL). However when compared to the previous second quarter, investment property sales slipped eight per cent. Still, there are several deals under conditional contracts worth more than S$590 million and...
50 per cent stake in retail portion of Malacca Centre in Raffles Place also transacted INVESTMENT sales of property have been gathering momentum in the private sector, with several deals inked recently. They include the Park Regis hotel at New Market Street/Merchant Road near the Singapore River, which is said to have been sold for $218 million to Indonesian mining magnate Yusuf Merukh. Separately, a 50...
IBIS Singapore on Bencoolen, a three-star hotel, has been sold just 18 months after it opened its doors. Details were not disclosed but it is understood a Singapore private investor paid a figure above $200 million for it. The hotel was put up for sale via a private tender in June by joint owners LaSalle Investment Management and French hotel group Accor. They announced the sale yesterday, but did not...
Property consultants Colliers International says Singapore's investment sales market strengthened further in the quarter that ended in June turning in sales of S$7.11 billion. That's 24.3 per cent above the S$5.72 billion chalked up in the first quarter of this year. Colliers released the information in its latest Knowledge Report Tuesday. It found that the investment sales market was driven...
Property consultant DTZ Research said Singapore's investment sales market is seeing an increase in larger deals sealed. For the second quarter this year, there were 15 deals worth over S$100 million totalling some S$3.5 billion. Such deals make up nearly three-quarters of the total investment value of S$4.71 billion in the second quarter. The figure is much higher than the nine transactions of over...