Mixed use property sales jumped 30.2% to $1.5b in Q2

It was mainly backed by the public land sale of the $1.2b Holland Road property.

Mixed used property investment sales rose 30.2% YoY to $1.5b in Q 2018, Colliers International revealed.

The firm noted that the surge in sales was mainly backed by the public land sale of a mixed-use property in Holland Road for $1.2b, as well as Chinatown Plaza which was sold for $260m. 

The commercial and residential site at Holland Road was awarded to the consortium of Far East Organisation, Sinoland, and Sekisui House through their tenderer Stirling Land Holdings and company back in May.

Also read: Far East-led consortium snapped up Holland Road site for $1.21b 

Meanwhile, shophouse transactions with value of $5m and above increased 13.4% YoY to $305.7m in Q2. Because of this, total shophouse transactions hit $784.3m in H1 2018, overperforming full-year shophouse investment sales from 2014 to 2017.

“Shophouses are fast emerging as an alternative asset class among high net worth individuals, property funds and investment companies, especially in the light of the fresh cooling measures implemented on the purchase of residential properties from 06 July this year,” the firm commented.