Singapore Property firms became net sellers of investment properties as cooling measures bite
Singapore - With cooling measures continuing to affect the Singapore residential market, property firms became net sellers of local investment properties in the third quarter of this year.
However, purchases by real estate investment trusts (reits) helped to prop up investment sales during the period, DTZ said in a report on Wednesday.
Overall, property investment activity rose about 15.4 per cent from the second quarter to $5.5 billion, bringing the total investment volume in the first three quarters of the year to $15.3 billion.
This rise came despite a fall in residential investments, down 1.3 per cent from the second quarter to $1.5 billion, as fewer government land sales sites were placed on the confirmed list and the market continued to weaken.