Enbloc sales pass $3 million in 2011, powered by small sites!

According to The Straits Times today, the value of collective sales this year has surged past the $3 billion mark, powered to a great extent by the sale of smaller sites.

Data from Credo Real estate showed that 49 sites were sold this year for a total of $3.04 billion - well ahead of the 36 sites sold for $1.77 billion last year.

Most of the sites went for prices below $100 million, with only 12 sold above the $100 million threshold. But these 12 sites had a combined value of $1.71 billion, making up 56% of total sales.

Given the expected economic slowdown heading into next year and the new "5-year rule" imposed on all redeveloped (and GLS) sites by the Government, the wife and I reckon that the 2012 collective sale scene will pale in comparison to 2011 (or maybe we are stating the obvious?). And all them en-bloc aspirants of larger sites (say, $500 million and above) should probably not hold their breath waiting...

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