Property transactions in Singapore total S$25.7b in 2016
Investment sales in Singapore totaled S$8.5 billion ($6 billion) in fourth quarter 2016 and S$25.7 billion ($18.22 billion) for the year, led by the commercial property sector, according to Colliers International.
Investment sales activity during the fourth quarter jumped 43.6 percent quarter-over-quarter to S$8.5 billion ($6 billion). The quarter saw a total of 11 deals concluded at or above S$100 million each, led by the commercial sector. These included the award of a white site at Central Boulevard under the Government Land Sales Program at a record bid of S$2.57 billion ($1.8 billion).
Private commercial investment sales doubled to S$1.8 billion ($1.3 billion) during fourth quarter 2016. Retail investments sales sold during the fourth quarter accounted for $S374.9 million ($265.7 million), or 21.1 percent of private commercial investment sales.
Total residential investment sales declined 7.6 percent quarter-over-quarter to S$2.9 billion ($2 billion) during