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Property investment deals cross S$3b so far in Q1

Office sector has been the star performer while value of residential sector deals halve year on year. There's plenty of capital, but a standoff in pricing

Kalpana Rashiwala

Published Thu, Mar 26, 2015 · 09:50 PM

Singapore property

Singapore

INVESTMENT sales of property - big-ticket transactions of at least S$10 million - have crossed S$3 billion so far this quarter - not far off the level in the previous quarter but significantly below the S$4 billion mark in Q1 last year.

Deals originating from the private sector have shored up the latest Q1 number, accounting for 74 per cent of total investment sales.

The S$1.17 billion sale of AXA Tower in the CBD alone accounted for nearly 40 per cent of overall investment sales, noted CBRE Research's head of Singapore and SE Asia Desmond Sim.

The public sector's 26 per cent share of investment sales deals - typically made up of…