Deal value of strata retail units soars 19.9% to $239.6M in 1H

Thanks to single bulk buyer transaction at Centrium Square.

The number of caveats lodged rose 15.9% in H1 2016 compared to H2 2015, on the back of the launch of Centrium Square, said Knight Frank.

According to the research firm a single-bulk-buyer transaction at Centrium Square significantly boosted the total transaction value, which rose 19.9% to S$239.6million in H1 2016 compared to H2 2015.

A total of 32 caveats were recorded for Centrium Square, understood to be lodged by Canali Logistics Pte Ltd, which amounted to S$70.1 million in transaction value. This drove average price for new sale freehold strata retail units up by 32.6% to S$3,741 psf, while the total number of caveats lodged ballooned 263% in H1 2016 compared to H2 2015.

Meanwhile, average price and transaction volume stayed fairly stable for resale freehold strata retail units.