The property market in Asia has been touted as the best performing in the world at present and the latest data from DTZ shows that this trend is continuing. Indeed, the property consultant has revealed that Singapore's real estate market surged during the third quarter of the year.
In total, investment sales in the country reached SGD6.1 billion, a rise of 23 per cent when compared to the SGD5 billion seen in the previous quarter. Added to this, the office sector also enjoyed a rebound in fortunes, with the level of transactions passing the SGD1 billion mark.
DTZ said that improving investor sentiment was leading to a return of buyers to the market and, in turn, bigger deals being sealed.
Chua Chor Hoon, head of DTZ south-east Asia Research, said: "The outlook is favourable as office demand is expected to grow with economic expansion. However, demand could be dampened if the major economies in Europe and the US turn out to be more sluggish and affect Singapore's economic growth."
- Monday 04 October 2010