REAL estate investment sales in Singapore fell 52 per cent year on year to $5.3 billion in the first quarter of 2019, on cooling in the latest bout of en-bloc fever and from residential property curbs.
On the other hand, public land sales booked a bumper quarter, recording a 32 per cent growth year on year to S$2.1 billion. They accounted for 40 per cent of total investment sales. Thanks to land sales, compared to the previous quarter, residential investment sales jumped 48.2 per cent. Two Government Land Sales sites – at Tampines Avenue 10 and Kampong Java Road – were among the top five largest transactions during the quarter.
In the industrial property segment, investment 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.
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