10 Apr '17, 7am

#Singapore: Investment property sales down 38.5% in Q1

Several bulk residential sales were recorded in Q1 2017 as some foreign developers tried to offload their remaining unsold units to avoid paying hefty penalties. Singapore saw sales of investment properties, or big-ticket property transactions of at least $10 million, drop 38.5 percent to $5.2 billion in Q1 2017, reported the Business Times . Property consultancy Savills stated that commercial property investment sales accounted for $2.8 billion of the total sales, while industrial properties contributed $344.2 million. The residential sector, on the other hand, made up $2.1 billion. This comes as a flurry of bulk residential sales were recorded in the first quarter of 2017 as some foreign developers tried to offload their remaining unsold units ahead of the Qualifying Certificate (QC) deadline to avoid paying hefty penalties. Developers also secured a slew of last-minute ...

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

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