14 Nov '17, 3am

Land sales to hit $14b, a sign of property market resurgence

Pearlbank Apartments in Outram is a 37-storey horse-shoe shaped building that comprises 280 apartments and eight commercial units. (Photo: Colliers International) More than $3.3 billion worth of land deals, including en bloc sales, are expected to be completed in Singapore during this quarter, boosting the total for the whole year to $14 billion, reported Bloomberg , citing data from Cushman & Wakefield Inc. This is the highest figure since 2011, said the property consultancy, adding that this indicates that the city-state’s real estate sector is set to recover significantly by next year. “Singapore’s residential and office market has passed its inflecion point, embarking on an exciting recovery journey,” said Cushman & Wakefield’s Research Director Christine Li. “With brighter economic prospects and improved market sentiment in the next two to three years, developers are ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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