Total Singapore investment sales in Q1 2019 rose by nearly 34% quarter-on- quarter (q-o-q) to $6.3 billion
Despite the slowdown in en bloc market, total investment sales went up by nearly 34% to S$6.3 billion in Q1 2019 from S$4.7 billion in Q4 2018. The increase in sales was partly attributed to the closing of State tenders in Q1, with public sales surging to S$ 3.1 billion in Q1 2019 from S$110 million in Q4 2018.
Although the outlook for private residential market was more subdued after the announcement of the eighth round of cooling measures in July 2018, developers were still actively seeking sites that have great connectivity and potential for future growth. For example, the Government Land Sale (GLS) site at Middle Road drew 10 bids from developers.
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