This is lower than Q1 sales of S$5.6 billion, which was a significant drop from S$8.3 billion in Q4 2012 and S$9.4 billion in Q3 2012.
However, it has to be noted that Q2 2012 was a high base, with large
In the private sector, investment sales transactions were relatively smaller, with the Lend Lease's sale of its stake in retail-office development Jem as the biggest deal.
Despite its irregular performance, investment sales market is still active, according to industry players. However, they are reducing their earlier forecast for this year.
Savills slashed its forecasts from S$25 billion to S$27 billion in March to S$20 billion to S$22 billion, while CBRE expects the year to end at S$20 billion to S$25 billion, down from S$31.45 billion previously.