20 Jun '13, 10am

Property investment sales down 10% in Q2 | | PropertyGuru | #singapore #sgproperty

Jun 20, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Preliminary figures from Savills reveal that investment sales of properties valued at S$10 million and above dropped 10 percent to S$4.5 billion in Q2. The final figures are expected to range between S$4.9 billion and S$5 billion. This is lower than Q1 sales of S$5.6 billion, which was a significant drop from S$8.3 billion in Q4 2012 and S$9.4 billion in Q3 2012. However, it has to be noted that Q2 2012 was a high base, with large transactions such as the Far East Hospitality Trust’s flotation, which include the S$2.1billion sale of four serviced residences and seven hotels. Meanwhile, Q3 2012 saw the sale of Nex mall’s half-stake for S$825 million, while Q4 2012 witnessed DBS’ purchase of a 30 percent interest in Marina Bay Fiancial Centre Tower 3 for S$1.035 billion. In the private sector, inves...

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

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