Property investment sales dived to five-year low in Q4

Private sales plunged by $1.47b.

The country’s property investment sales market failed to end the year on a good note, after total sales plunged to its lowest level since the second quarter of 2009.

Data released today by Colliers showed that total property investment sales value nose-dived by 34.8%
quarter-on-quarter to $3.94 billion in 4Q 2014, after rebounding by 13.0% QoQ to $6.04 billion in 3Q 2014.

“The steep fall in property investment sales in the three months ending in December 2014 was led by a sharp $1.47 billion decline in private investment sales to hit a five-and-a-half-year low of $3.05 billion in 4Q 2014, reflecting a fall of 32.5% from the $4.52 billion amassed in 3Q 2014. Public sector sales, too, dipped by a sharp 41.2% from the $1.52 billion chalked up in the preceding quarter to a meagre $893.19 million awarded in 4Q 2014,” stated the report.