Residential sales in Singapore rise almost seven-fold in 9M2017
This accounts for 37% of the country’s total investment volumes.
Acquisitions of residential buildings in Singapore rose almost seven fold to $4.6b in the first nine months of 2017, according to the Asia Pacific Capital Trends report released by Real Capital Analytics (RCA).
Shortage of government land sales have caused consumers to turn to en-bloc transactions or sales wherein a single purchaser buys out all apartment owners in a single building.
Sales of multi-family properties dominated commercial real estate transaction activities in the Asia Pacific with the multifamily sector growing by 73% YoY in 9M2017 to $19.76b (US$14.5b). The surge was led by robust demand for apartment blocks in China and Singapore.
Meanwhile, investment in the office sector fell 5% YoY in 9M2017.
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