However, there was a decline in number of sales due to diminishing sales for smaller units.
This chart from Knight Frank showed that strata-titled retail sales have skyrocketed from $63.1m in Q4 2018 to $453m in Q1 largely due to the massive $400m sale of Liang Court during the quarter.
Excluding the Liang Court sale, strata retail sales only amounted to $53m. Orchard Road led total sales amongst the planning areas. Strata sales for retail properties in Orchard Road rebounded to $17.7m Q1 after declining by $31.7m in Q4 2018. This is followed by Rochor area that recorded $13.2m in sales.
Nearly all the sales of strata-titled retail properties came from the secondary market, accounting for 33 out of 34 transactions.
However, Knight Frank noted that the number of sales has steadily declined due to the shrinking of sales for those smaller units.
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