Property investment sales expected to hit S$35b this year

Property investment sales expected to hit S$35b this year

SINGAPORE: Property investment sales in Singapore are expected to hit S$35 billion this year, according to property consultant CB Richard Ellis (CBRE).

It said sales for the six months to date have surged to over $21 billion, up 48 per cent from the same period a year ago.

For the second quarter alone, the figure was nearly S$10 billion, a gain of 16 per cent on year.

CBRE said the private sector has so far accounted for 86 per cent, or S$18.5 billion, of total investment sales this year.

The residential sector made up the largest proportion of sales, contributing S$14.6 billion or 68 per cent.

The office investment market made up 23 per cent or S$4.8 billion of sales.

Last year, property investment sales totalled S$30.5 billion. - CNA/yy

Source : Channel NewsAsia   21 June 2007

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