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Thread: Sharp drop in Singapore Q1 property investment sales: Colliers

  1. #1
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    Default Sharp drop in Singapore Q1 property investment sales: Colliers

    Sharp drop in Singapore Q1 property investment sales: Colliers

    Figure fell 52% yoy to S$5.3b on cooling in latest bout of en-bloc fever and from residential property curbs


    Wed, Apr 17, 2019


    REAL estate investment sales in Singapore fell 52 per cent year on year to S$5.3 billion in the first quarter of 2019, on cooling in the latest bout of en-bloc fever and from residential property curbs.

    This is according to a Colliers International research report released on Tuesday. The corresponding period in 2018 had seen a record level of residential collective sales, Colliers noted.

    The overall slump was despite strong growth in investment sales in the hospitality, commercial, industrial and mixed-use sectors.

    In the study by Colliers, investment sales refer to all private property sales at transacted prices of S$5 million and above, including successfully awarded state land tenders

    In the residential sector, the July 2018 cooling measures continued to depress sales. Investment sales plunged by 82 per cent from a year ago to S$1.7 billion amid declines in all sub-segments, including collective sales and Good Class Bungalows. This sector accounted for 32 per cent of the total investment sales in the quarter.

    On the other hand, public land sales booked a bumper quarter, recording 32 per cent growth year on year to S$2.1 billion. They accounted for 40 per cent of total investment sales, and four of the top five largest transactions during the quarter were Government Land Sales (GLS).

    Commercial investment sales quadrupled on a year-on-year basis to S$1.1 billion in the first quarter on a low base.

    Colliers Research expects investment activity to pick up in the coming quarters, including potentially more commercial - office and retail - deals to be concluded towards the end of this year.

    Jerome Wright, director of capital markets and investment services at Colliers International, said: "We expect favourable fundamentals in Singapore's office market, steady office rental growth and supply shortfall in 2019-2021."

    Hospitality investment sales also more than quadrupled year on year, totalling S$996 million in the quarter, with healthy growth in tourist arrivals likely supporting investor interest in hospitality assets, Colliers said.

    The Urban Redevelopment Authority's Draft Master Plan 2019 incentives could also spark more investor interest in redeveloping older buildings in the Central Business District into hotel and residential components, the firm noted.

    In the industrial segment, sales value doubled to S$555 million in the quarter from the year-ago period, mainly due to SGRE Banyan's acquisition of warehouse facilities on Jurong Island for S$228 million.

    For the whole of 2019, the firm estimated that total investment sales will be S$38 billion, on a par with last year's level.

    Tricia Song, head of research for Singapore at Colliers International, said: "During the quarter, major private investment sales in Singapore continued to be dominated by institutional investors."

    Such sales included the acquisitions of Manulife Centre by ARA Asset Management and British group Chelsfield; Rivervale Mall by local private equity firm SC Capital Partners; and warehouse facilities on Jurong Island by SGRE Banyan.

  2. #2
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    Default Re: Sharp drop in Singapore Q1 property investment sales: Colliers

    Heard of it. Should be the right choice.

  3. #3
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    Default Re: Sharp drop in Singapore Q1 property investment sales: Colliers

    Quote Originally Posted by parc-clematis View Post
    Heard of it. Should be the right choice.
    what choice?

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