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25 June 2012

25th June, Monday


Investment Sales


Healthy demand for good class bungalows

Source: The Straits Times

The market for good class bungalows has gained momentum this quarter with transactions likely to exceed $250 million.

There have been 11 deals worth $234 million signed so far in the nearly three months from 1 April compared with nine transactions worth $224 million struck from January to March, according to preliminary data from a consultancy.

The total value will be even higher if more caveats are lodged and if deals close before the end of this month.

The largest transaction this quarter was for a 20,000 sq ft bungalow in Binjai Park that changed hands at $31 million - or $1,550 per sq ft (psf).

The firm said average psf prices have been about $1,363 psf for the first half of this year, up from $1,272 psf for the whole of last year and $1,087 psf in 2010.

But the number of bungalow transactions is likely to slip from 56 deals last year to between 40 and 45 this year.


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