Singapore en bloc sales collapse after latest property curbs

(Oct 10): Singapore residential-property investment sales have collapsed after the latest round of housing curbs put the brakes on ‘en-bloc’ redevelopment deals.

Just two redevelopment sales worth $353 million were completed in the third quarter, down from $3.8 billion of transactions the previous quarter, according to data compiled by Cushman & Wakefield Inc. That pushed total real estate investment sales down 42% to $6.5 billion last quarter.

“The collective sales market was decimated after the recent cooling measures,” said Christine Li, head of research for Singapore at Cushman.

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