Sales of offices generated $3.84b, up by 270.8%.
This chart from Savills shows that property investment sales rose 49.2% QoQ to $7.26b in Q2 from $4.98b in Q1.
This was bolstered mainly by the commercial property sector, which saw a few block transactions of privately-owned properties concluded in the said quarter. The sector generated $3.84b, surging by 270.8% in Q2.
The increase in real estate investments activities also boosted the transaction value raked in from the private sector as it skyrocketed 128.4% QoQ to $6.26b. Private sales accounted for 86.2% of Q2’s total investment sales.
The remaining 13.8% or about $1m of investment sales came from the sale of two private residential sites and three industrial sites under the Government Land Sales (GLS) Programme. On the other hand, transaction volume in the public sector plunged 52.9% QoQ, as a result of the government limiting supply under the GLS programme coupled with the batch tender closing.
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