Last year saw local real estate investment sales of $28.6 billion, exceeding the $27.9 billion achieved in 2010. It was achieved despite the global economic uncertainties in 2011, compared with better economic conditions in the previous year. The investment figures were based on deals worth more than $5 million. The increase was largely owing to the 28.8% y-o-y increase in government land sales, offsetting the 12.7% y-o-y fall in investment sales from the private sector. For 4Q2011, investment sales by both the public and private sectors registered a 67.5% q-o-q growth to $7.2 billion, although the slowing economy, which affected investor sentiment in 3Q2011, continued to affect investors in 4Q2011.
Investment activity in the residential sector was the highest for the year, representing 37.5% of investment sales, or $10.7 billion, the highest amount since 2007. However, in contrast to 2007, when residential investment sales were dominated by collective sales, investment sales in the residential sector in 2011 were driven by the sale of government land sites. Investments in office properties were the second highest at $6.9 billion, but 10.5% lower than the $7.7 billion registered in 2010, as investors stayed away in 2H2011, owing to the global economic uncertainties arising from the eurozone crisis.
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