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Sales of big-ticket property transactions of S$10 million and above in 2017 surged to their highest level in a decade. This, however, was short of the record achieved in 2007. According to Savills Singapore's preliminary tally as at Dec 27, investment sales of property reached S$35.64 billion, up 57.3 per cent from the S$22.66 billion in 2016. This was the best since the record S$41.1 billion during the 2007 property boom. Based on JLL's figures, the surge in 2017 was supported by a strong revival in collective sales to S$8.6 billion from just over S$1 billion in 2016. Also boosting last year's investment sales tally were state land sales in choice locations. These included a coveted commercial and residential site in the new Bidadari Estate that went to a tie-up between Singapore Press Holdings and Kajima Development; and a residential site in Stirling Road clinched by a ...

Full article: https://www.srx.com.sg/singapore-property-news/44822/big-...

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