Chart of the Day: Freehold strata office sales down 34.1% to $106.2m in H1

Despite the fall in total transaction volume and sales, the average unit prices rose.

This chart from Knight Frank shows that the total transacted value for freehold strata offices plunged 34.1% to $106.2m in H1 from its value in H2 2019, whilst leasehold strata offices saw its transacted value crash 46.5% to $166m.

The average unit price for freehold strata offices were at $2,497 psf, which is 5.4% higher than in H2 2019. Prices of leasehold strata offices also rose around the same pace over the same period at 5.7% to $2,413 psf.

Despite the fall in total transaction volume and sales, the average unit prices saw a slight increase. Knight Franks said that this could be attributed to the transaction of smaller size units at Far East Shopping Centre ($4,700 psf) and People’s Park Centre ($4,080 psf), which fetched a higher average unit price.