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

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.