Two-year dry spell for collective sales

Singapore has been witnessing lacklustre demand for collective sales sites, with only two deals closed since the start of 2014, a significant decline from the 16 transactions in 2013, revealed JLL data. Analysts attribute the drop in demand to various factors, including property cooling measures, the complexity of en bloc sales, ample supply of government land sites and weak home-buying sentiment, reported The Straits Times. Katong Omega Apartments was the only en bloc sale recorded last year, while Thong Sia Building on the Orchard shopping belt is the only one registered so far this year.