The sale of a Beach Road commercial site for $1.62b led the deals in Q4.
Colliers International said that buoyant acquisition activities continued for both residential and commercial sectors in Q4.
According to its market snapshot, thanks to better-than-expected economic conditions, developers and investors remain strongly confident about the Singapore property market.
This was demonstrated through active bidding participation in collective sales and government land tenders as well as acquisitions of prime commercial assets.
Some of the major deals in Q4 were the $1.62b sale of a Beach Road commercial site to GuocoLand and its parent Guoco Group and Frasers Centrepoint Limited's (FCL) $955.4m bid for a Jiak Kim Street residential site.
Colliers managing director Tang Wei Leng commented, "The optimistic economic outlook and cyclical upturn of the underlying markets should continue to drive investment demand for the residential and commercial sectors in Singapore."
Developers are also expected to continue replenishing their landbanks via collective sales and state land sales.
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