Chart of the Day: See how the value of en bloc deals surged in 2017
But it didn't hit the peak value of $11.4b in 2007.
This chart from RHB Research shows that in 2017, about 26 residential en bloc deals were completed, for a nine-year high of $8.5b.
However, this was still not enough to reach 2007 peak of $11.4b made from 164 deals.
The strong surge in en-bloc deals was fuelled by factors such as falling inventory levels, strong developer balance sheets, competition from overseas developers, and low-interest rates.
"The surge in en-bloc deals has boosted property liquidity and evoked optimism for strong price recovery," said RHB analyst Vijay Natarajan.