The lucrative impact of Thomson MRT line to residential investment sales

The residential property segment raked in S$3.7b of sales in 3Q12.

According to Savills, in Q3/2012, the residential property segment continued to lead the investment sales market with S$3.7 billion of sales, making up 41.0% of the overall transaction value.

A total of eight land parcels were awarded under the GLS programme. High participation levels continued to be a feature for well-located sites. Similarly, smaller sites that command a lower price quantum, such as the Farrer Road site, generated keen interest from both big developers and new entrants.

The collective sales market yielded nine transactions totalling S$1.02 billion in the reviewed quarter. The upcoming Thomson MRT Line (TSL) has started to attract significant interest for properties surrounding the proposed stations.

In September, Thomson View Condominium, near the future Upper Thomson MRT Station on the TSL, was collectively sold for S$590.0 million. It was the most expensive en-bloc transaction so far this year. Another development, Green Lodge, was also collectively sold for S$191.9 million.

The remaining seven deals in Q3 were all smaller, below S$100 million each. Probably encouraged by a revival of buying activity in the high-end segment, it was observed that developers had started to take an interest in prime districts, but focused on smaller and more affordable sites.

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