Investment sales rose 9.3% q-o-q in 3Q2017
Investment sales in 3Q2017 amounted to $10.1 billion, a 9.3% q-o-q increase, says a recent CBRE Research report.
The strong performance of the investment market in 3Q2017 was attributed to the collective sale market, the return of domestic capital — which rose 52.8% y-o-y and accounted for 67.6% of total investment sales — and larger-ticket deals.
The largest deals for the residential and office sectors so far this year were transacted in the quarter. Tampines Court, which was sold to Sim Lian Development at $970 million, were the largest residential deal YTD. On the office front, CapitaLand Commercial Trust’s acquisition of Asia Square Tower 2 at $2.1 billion was the largest deal so far this year.
The quarter also marked the first increase in office rents in 10 quarters, says CBRE Research. Grade A Core CBD rents rose 1.7% q-o-q.
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