Big-ticket property deals fall 42% in Q3 after cooling measures

Singapore

THE tally of big-ticket property transactions of S$10 million and above across all sectors tumbled 42 per cent to S$6.5 billion in the third quarter from S$11.2 billion in Q2 - after the July property curbs put the brakes on residential collective sales.

However, a pick-up in activity for the commercial and industrial property segments helped to mitigate the drop in the residential sector, said Cushman & Wakefield Singapore senior director of research Christine Li.

The property consultancy's preliminary Q3 investment sales tally, based on information as at Oct 3, also reflects a 39.5 per cent decline from the S$10.7 billion in Q3 last year.

Giving a sectoral breakdown, C&W said that investment sales for the residential sector totalled S$2.0 billion during July to September this year - down 72 per cent from the nearly S$7.3 billion in Q2 2018 and also 52 per …