The investment sales market in Singapore has seen an increase in the number of larger deals sealed, according to property consultancy firm DTZ Research.
For Q2 2010, 15 transactions worth more than $100 million were recorded, which totalled around S$3.5 billion. These deals make up almost three quarters of the total S$4.71 billion investment value in Q2.
The figure is higher than the nine deals worth more than S$100 million each that made up only 55.5 percent of transactions in Q1 2010.
The bulk of investments were obviously geared towards government sale of land sites, said DTZ.
Out of the 15 deals worth over $100 million, 11 deals were sites released for sale under the Government Land Sales programme, with the white site in Jurong Gateway seeing the highest deal at S$748.9 million.
Overall investment sales for Q2 posted a 64.1-percent increase on-quarter to S$4.71 billion, of which S$2.75 billion (58.3 percent) were from residential transactions.
Meanwhile, investments in industrial properties fell over the same period, comprising only S$438.5 million (9.3 percent) of total transactions, in contrast to Q1 when industrial property transactions stole the limelight.
According to DTZ, a key factor that contributed to the 59.4 percent quarter decline in transacted values in the sector was the lack of any large scale acquisitions by Real Estate Investment Trusts over the period.
Transactions in office properties were also down as investment value dropped 39.5 percent from the previous quarter to S$266.1 million.