Strata commercial property deals seen to stay tepid this year

Singapore

STRATA commercial property transactions are expected to remain tepid this year, after plunging to their lowest levels in 2015 since the global financial crisis, as high vacancies in recently completed strata commercial developments and waning rents keep wary buyers on the sidelines.

The number of strata office transactions plunged to 227 worth S$758 million in 2015, from 517 deals worth S$1.68 billion in 2014, based on Knight Frank's analysis of caveats lodged. Strata retail transactions also dived to 221 deals worth S$393.7 million in 2015, down from 475 deals valued at S$918.6 million in 2014.