In a new sales and investment report, Savills Singapore said that investment transactions in 1Q12 registered just S$3.98 billion, or 48.4% lower from the previous quarter's S$7.72 billion. This weaker performance that should carry over to 2Q12 with the exception of surging GLS tenders.
Here's more from Savills Singapore:
The investment sales market is expected to remain quiet in the near term as caution reigns amid macroeconomic uncertainties. In addition, although there is ample liquidity and demand in the market, there remains a mismatch between the expectations of buyers and sellers. The next quarter is likely to be dominated by sales from the GLS Programme. Should concerns over the macro-economy begin to fade and the ‘bid-ask’ gap narrows, the second half of 2012 could see a resurgence of transactions in the private sector.