Property consultancy CB Richard Ellis (CBRE) said real estate investment sales for the first quarter of 2010 increased to S$4.87 billion.
This was 18 times higher than the S$273.8-million total transactions posted in the same quarter last year.
CBRE said in its latest report that the rapid sales of Government Land Sale (GLS) sites during the first quarter, which totalled S$934.66 million, contributed significantly to the higher investment sales.
Real estate sales in the industrial and commercial sector also showed positive sales.
Total investment sales in the commercial investment market increased 25.3 percent in the first quarter to S$1.23 billion.
The industrial sector, on the other hand, recorded 26 transactions, making up 23.8 percent or S$1.16 billion total investment sales for the quarter.
But the spotlight remains on the residential segment, where it recorded a total investment sale for the quarter amounting to S$2.4 billion.
Overall, private investors accounted 79.3 percent or S$3.86 billion of the total investment sales, and the public sector contributed 20.7 percent or S$1.01 billion.
According to CBRE, the property investment sales market in Singapore remains optimistic, with a possible S$15 billion worth of transactions for 2010.