Chart of the Day: Property investments plunged 73.4% to $1.7b in Q2
No transactions in the public sector were recorded during the quarter.
This chart from Knight Frank shows that property investment sales in Q2 totalled $1.7b, signifying a 73.4% YoY plunge from $6.4b in Q2 2019. It also marks a 41.4% QoQ crash from $2.9b in Q1, with no transactions recorded in the public sector.
Whilst general activity in the real estate market was muted, the presence of several big-ticket commercial deals bolstered investment sales in the second quarter totalling $1.4b.
The divestments of Perennial Real Estate Holdings’ 30% stake in TripleOne Somerset to Shun Tak Holdings ($155.1mi) and the 50% stake in AXA Tower to Alibaba Group's Singapore subsidiary ($840m) formed a substantial proportion of the deals inked.
More recently, Oxley Holding and Oxley Beryl, owners of the former Chevron House, are in the midst of selling the retail and commercial units of the development to Siriti R and Siriti C for $315m.