RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Home sales surged 60.7% to $8.2b in Q2

The largest transaction was Tulip Garden which was collectively sold for $906.9m.

Residential home sales ballooned 60.7% YoY to $8.2b in Q2, pushed by en bloc sales which made up nearly half of investment sales volume in Q2, Colliers International revealed.

The strong Q2 sales performance made H1 2018 hit $17.3b investment sales which is the highest half-yearly figure on record. The quarter saw a total of 16 en bloc sales with a combined value of $3.9b, which is 19% above the total residential collective sales of 2017.

Colliers International head of research for Singapore Tricia Song warned however that the cooling measures could trigger a slowdown for the residential en bloc market in the near-term.

“However, commercial and industrial real estate could pick up the slack in the second half of the year, on the back of healthy commercial properties deal pipelines and rising interest from real estate investment trusts (REITs) and institutional investors for industrial assets,” Song explained.

Amongst the largest residential sale transactions in H1 include Tulip Garden ($906.9m), Dunearn Gardens ($468m), Chancery Court ($401.8m), and Park House ($375.5m).

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