The Flash Estimates released on Monday (03 Oct) by the Housing and Development Board (HBD)…
Residential zone prevails on Property Investment Sales in Q3
Singapore’s real estate investment sales showed a jump to $4.61 billion, 16 percent year-on-year on Q3 of 2016 from $3.99 billion last year as reported by JJL in its preliminary estimate. Research further shows that landed homes sales is attributed to last quarter’s property invested deals especially on large bungalow transactions. Also, the residential investment sales were influenced by 32 percent landed home purchases and 31 percent of land banking activities by developers.
This year’s total sales value already amounted to $15.14 billion it its first nine months when compared to the 14.49 billion sales registered last year over the same period of time.
JLL Singapore’s Head of Research, Tay Huey Ying, noted that given the sales tally to-date, the property investment sales value in full year is more likely to rise which will create a rebound and reach the highest in three years. She also added that although 2016 started on a low, it will likely end up on a high note.