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En blocked: Collective sales at standstill while commercial deals stir interest

Residential sites face resistance at high prices, but pockets of activity to open up in 2024

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Ry-Anne Lim

Ry-Anne Lim

Published Tue, Dec 26, 2023 · 04:00 PM
    • There were only eight successful collective sales this year, including the sale of Far East Shopping Centre for around S$910 million in September.
    • There were only eight successful collective sales this year, including the sale of Far East Shopping Centre for around S$910 million in September. PHOTO: CHERYL ONG, BT

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE collective sales market had a fairly quiet year in 2023, with just eight successful deals out of 32 properties put on the market, as high land acquisition costs kept developers at bay. 

    Data consolidated by real estate consultancy CBRE showed S$2.17 billion worth of deals concluded as at Nov 26 – 40 per cent less than that for the whole of 2022.  

    Residential collective sales totalled S$574.3 million, down 69 per cent, while sales of mixed-use and commercial deals slipped 15 per cent to S$1.53 billion.  

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    Collective saleReal estateSingapore propertyCommercial propertyResidential propertyIndustrial propertySpotlight

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