Chart from Huttons

Sales value of strata office units climbs 1.8% YoY to $1.17b in 2023 

Volume was similar to 2022’s level.

The total value of strata office units sold in 2023 increased 1.8% compared to 2022, at $1.17b.

According to Huttons, the strata office market grew in popularity amongst investors looking for investments not subjected to the Additional Buyer’s Stamp Duty (ABSD).

In 4Q23, the strata office market recorded 82 transactions, translating to a 10.8% QoQ increase.

Despite the higher number of transactions, value dipped by 9.1% QoQ to $246.7m in 4Q23.

Meanwhile, 2023 saw the first freehold strata office project in the Central Business District in eight years, Solitaire on Cecil.

The project was fully sold out within four months of launch.

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