Singapore’s battered private residential sector shunned by picky investors in Q3

Its investment sales value plunged for the 5th straight quarter.

It has been another dire quarter for the country’s private residential sector. While institutional investors seemed quite eager to inject capital in big-ticket commercial property deals in Q3, the private residential sector languished in the sidelines as its investment sales value plunged for the fifth straight quarter.

According to Colliers, institutional investors did not pick up any properties from the policy-battered residential sector in the three months ending in September 2014.

Acquisitions by other players of both completed and development sites were equally dire in the private sector, as its investment sales value dropped to a mere $606.10 million in 3Q 2014.

Colliers also noted that the public sector did not fare much better, with developers snubbing the State’s land parcel sales.

“Although the State sold as many residential land parcels in 3Q 2014 as it did in 2Q 2014, the combined value of the four sites awarded in the current quarter totalled only $908.54 million, a far cry from the $1.36 billion awarded for four parcels in the preceding quarter,” Colliers noted.

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