Leasehold strata office sales climb 7.8% HoH to 114 in 2H23

Sales value for the period was $291.7m.

More leasehold strata offices were sold than freehold ones in 2H23, data from Knight Frank showed.

One hundred fourteen (114) leasehold properties changed hands in H2 2023, whilst there were only 42 freehold strata office transactions during the period.

The total value of leasehold sales was $291.7m, whilst freehold sales value came in at $226.3m.

Compared to 1H23, leasehold sales were up 7.8%, whilst freehold sales were down 41.4%.

Meanwhile, both leasehold and freehold markets recorded a decrease in their average unit prices, dipping 1.6% to $2,448 psf and 13.5% to $3,235 psf, respectively.

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