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PR Newswire
21-07-2012, 10:09 AM
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The Straits Times
www.straitstimes.com
Published on Jul 21, 2012
Property investment transactions up on low interest rate
LOW interest rates helped send investment spending on property rocketing in the second quarter, with the residential and commercial segments thriving.
Investors stumped up $7.4 billion during the three months to June 30, 52.4 per cent over the $4.9 billion laid out in the first quarter, according to Savills Singapore yesterday.
The public sector accounted for $3.1 billion in the second quarter. This includes private developers buying land through the Government Land Sales (GLS) programme. There were 15 sites - 11 residential, three industrial and one hotel - sold through the GLS, reaping about $2.9 billion.
Private sales volume swelled nearly 60 per cent in the second quarter from the first, reaching $4.3 billion.
Investment sales in the private sector involve transactions between two firms - such as collective sales - but exclude individual buyers.
Divided by segments, residential took the lead with $4 billion, or 54 per cent, of overall investment sales.
Savills noted that the participation level in recent GLS tenders show developers 'have become more selective due to the ample supply of land released by the Government, and sensitive to competition from existing (or in the pipeline) projects in the vicinity'.
The collective sale market stayed 'lukewarm', with six deals amounting to $392.5 million in the quarter.
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The Straits Times
www.straitstimes.com
Published on Jul 21, 2012
Property investment transactions up on low interest rate
LOW interest rates helped send investment spending on property rocketing in the second quarter, with the residential and commercial segments thriving.
Investors stumped up $7.4 billion during the three months to June 30, 52.4 per cent over the $4.9 billion laid out in the first quarter, according to Savills Singapore yesterday.
The public sector accounted for $3.1 billion in the second quarter. This includes private developers buying land through the Government Land Sales (GLS) programme. There were 15 sites - 11 residential, three industrial and one hotel - sold through the GLS, reaping about $2.9 billion.
Private sales volume swelled nearly 60 per cent in the second quarter from the first, reaching $4.3 billion.
Investment sales in the private sector involve transactions between two firms - such as collective sales - but exclude individual buyers.
Divided by segments, residential took the lead with $4 billion, or 54 per cent, of overall investment sales.
Savills noted that the participation level in recent GLS tenders show developers 'have become more selective due to the ample supply of land released by the Government, and sensitive to competition from existing (or in the pipeline) projects in the vicinity'.
The collective sale market stayed 'lukewarm', with six deals amounting to $392.5 million in the quarter.
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