Singapore ‘En-Bloc’ Sales Collapse After Latest Property Curbs
- Residential sales slumped 72% last quarter, Cushman data show
- Office, industrial investment-property sales pick up pace
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Singapore residential-property investment sales have collapsed after the latest round of housing curbs put the brakes on ‘en-bloc’ redevelopment deals.
Just two redevelopment sales worth S$353 million ($256 million) were completed in the third quarter, down from S$3.8 billion of transactions the previous quarter, according to data compiled by Cushman & Wakefield Inc. That pushed total real estate investment sales down 42 percent to S$6.5 billion last quarter.