Property-report.com, 14 May 2009, Khalil Adis
The Asian property investment market suffered an 83 per cent quarter-on-quarter fall in sales in the first quarter of 2009 with Japan, Singapore and Hong Kong suffering the biggest falls in sales volume, according to CB Richard Ellis (CBRE).
Singapore experienced further declines in investment sales in the first three months of the year with only a few isolated transactions as potential buyers and investors prefer to remain on the sidelines and adopt a wait-and-see attitude.
Total investment sales amounted to S$204.2 million, a decline of 51.8 percent from the previous quarter and a fall of 97.7 percent from the first quarter of 2008
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