news

Singapore ranks 4th in 1H2017 real estate market activity among APAC countries

SINGAPORE (Aug 7): Singapore placed fourth in terms of 1H2017 real estate market activity among APAC countries, according to Real Capital Analytics’ Q2 2017 Asia-Pacific Capital Trends Report. This marks Singapore's highest position in five years. The report was released on Aug 7.

Real estate transactions in Singapore grew 50% y-o-y to S$8.1 billion (RM25.5 billion) in 1H2017. This was due to several large deals, such as NTUC social enterprise Mercatus Co-operative’s acquisition of Jurong Point shopping mall at S$2.2 billion, and plentiful sales in the residential en bloc market.

Three residential redevelopment sites at One Tree Hill Gardens, Rio Casa and Eunosville, were sold en bloc in 1H2017, for a total sale price of approximately S$1.4 billion. The only other en bloc transaction within the same time period was for mixed-use development Goh & Goh Building, which was sold at S$101.5 million.

Hong Kong took the top spot on the list, with completed sales of income-producing assets totalling US$8.3 billion (RM35.5 billion) in 1H2017. This represents the first time that Hong Kong has been top investment market, a position which had been consistently held by Tokyo. Tokyo ranked second on the list for 1H2017.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Singapore: Site of former Mediacorp broadcast hub for sale at S$260 mil
  2. Singapore requires those with travel history to Sabah to serve 14-day SHN at facilities
  3. Malaysian woman among seven imported Covid-19 cases in Singapore