Sharp fall to $3b so far in Q4 from over $13b in Q3

EVEN taking into account the $970 million sale of TripleOne Somerset over the weekend, investment sales of Singapore property have dived to around $3 billion so far this quarter - a big drop from $13-plus billion in the third quarter.

The year-to-date tally is around $29 billion - with a possibility that the final number could touch $30 billion as more caveats of transactions are lodged. This figure would be similar to each of the preceding three years.

The figures cover big-ticket items of at least $10 million. Investment sales reflect the confidence of major property players in the sector's mid to long-term prospects.

Property consultants expect next year's investment sales to be lower, on the back of a cutback in the Government Land Sales (GLS) Programme for the first half, among other factors. Savills Singapore predicts $20 bill…