The collective sales market generated frenzied activity in the previous year.
Singapore’s residential investment sales rose a whopping 119% YoY to $21.7b in 2017 which registers its highest sales growth since 2007, according to Colliers International's quarterly investment sales report.
Private residential segment still dominates last year’s sales figures the but public investment sales posted healthy growth at 31.5% QoQ to $1.5b due to the awarding of two pricey residential
Government Land Sales (GLS) sites in the prime districts 9 and 10.
Colliers notes that the residential market was marked by a collective sales wave as a total of 27 sales were conducted that hit a total value of $8.13b. 15 residential collective sale sites worth
$4.5b were also transacted in the last quarter of the year, boosting overall figures.
“We estimate over 13,000 units could be redeveloped on the 27 collective sale sites sold in 2017, and these could be completed between 2021 and 2023,” Colliers notes, adding that the market is likely to remain active as owners of strata-tiled commercial and mixed developments are poised to jump on the latest trend in the residential bandwagon.
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