Property investment sales climbed 26.8% to $5.58b in 1Q

Boosted by the public sector.

According to Colliers International, the Singapore property investment sales market started the year on a positive note. Total property investment sales garnered in the first three months of 2014 rebounded by 26.8% quarter-on-quarter (QoQ), from a four-and-half-year low of $4.40 billion in 4Q 2013, to $5.58 billion in 1Q 2014.

Here's more:

Boosting the quarter’s total investment sales was the public sector, which accumulated some $2.44 billion worth of State land sales in the quarter ending in March 2014, more than double the $759.63 million awarded in the preceding quarter.

The private investment sales market, on the other hand, remained lacklustre in 1Q 2014 with sales value shrinking further from $10.25 billion in 3Q 2013 and $3.64 billion in 4Q 2013 to a new low of $3.14 billion in 1Q 2014. This was the lowest level seen since 2Q 2009 when only some $1.28 billion worth of private investment sales were sealed.

Of significance, the proportion of public sector sales surged to 43.7% of total investment sales concluded in 1Q 2014, compared to only 28.4% and 17.3% in 3Q and 4Q 2013, respectively.

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