04 Jan '12, 2pm

Real estate investment sales reach S$28.6m in 2011

SINGAPORE: Singapore's real estate investment sales hit S$28.6 billion in 2011. This is slightly more than the S$27.9 billion worth of deals concluded in 2010. This is based on data compiled by property consultancy firm DTZ Research on transactions that are above S$5 million in value. It excludes the S$1.1 billion worth of transactions in single residential units and lots that cannot be redeveloped or subdivided into more than one plot. DTZ said the increase in real estate investment sales in 2011 was largely due to an increase in sales of land sites and properties by the government. Total investment sales in the fourth quarter of last year grew 67.5 per cent on-quarter to S$7.2 billion. This was lower than the S$8.1 billion posted in Q1 2011 and S$9.0 billion in Q2. The decline was attributed to the slowing economy which impacted investor sentiment in the Q3 and continued...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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