Real estate transaction volume in Singapore this year is projected to be at its highest level in three years after third quarter results soared by 16 percent to reach $4.61 billion, according to preliminary estimates by JLL Research.
On a quarter-on-quarter basis, however, total investment sales value in the third quarter was 41.2 percent lower than volume registered in preceding three months. Second-quarter sales activity received a huge lift from the S$3.4 billion ($2.5 billion) sale of Asia Square Tower 1. Excluding the deal, third-quarter sales volume was 3.8 percent higher than the second quarter.
The largest deal in the third quarter was the S$1.78 billion ($1.28 billion) acquisition of the office and business park components of the first phase of Mapletree Business City by Mapletree Commercial Trust. This is also the second-largest property deal in Singapore this year, after Asia Square Tower 1.
