What was the largest strata retail deal in Singapore in H1 2024?

Singapore strata retail sales dropped 32.1% to S$215.5m during the period. 

In the first half of 2024, Knight Frank data revealed that there were 131 strata retail deals, a half yearly decline of 10.9%. This represented a total sales value of S$215.5 million that was 32.1% lower than the same period a year ago. 

“Majority of the transactions that took place were of smaller quantums of under S$4.0 million, with only three units sold above S$10.0 million. Of the top 5 deals in H1 2024, the largest one was the sale of a strata retail unit at Royal Square at Novena for S$11.0 million in January,” the analyst said.

Here’s more from Knight Frank:

The other deals included a freehold strata retail unit at Lucky Plaza that changed hands for S$10.5 million in January, and another at Peninsula Plaza that was sold for S$10.4 million in April. As with strata offices, some strata retail transactions might not have been reported or caveated.

The Rochor Planning Area took the top spot in terms of sales value and number of transactions, with a total of 27 strata retail units sold that translated to S$44.1 million. These comprised 11 deals at Parklane Shopping Mall that added up to S$11.3 million. 

Following close behind was the Geylang Planning Area with the sale of 24 strata retail units that totalled S$34.9 million. Nine strata retail units at The Arizon sold for a total sales value of S$24.4 million, with interest for these units extending beyond the CBD into the fringe areas.