Chart of the Day: Sales volume of huge strata offices surged in 2019

It led the surge of strata office deals in 2019 to $1.2b.

This chart from Knight Frank reveals that the total sales volume of strata office properties larger than 10,000 sqft surged about two-fold YoY to around $500m in 2019. Meanwhile, the sales volume for smaller properties held relatively steady.

Overall, the total value of strata-titled office units sold in 2019 leapt 30.4% YoY to $1.2b. Despite a decline in caveats lodged, the average price transacted psf in 2019 rose 8.8% as more buyers picked more offices in prime locations.

The sale of the nine-storey KH Kea Building recorded the priciest deal amongst strata office deals in this year, for $79.3m.

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