Blame it on highbase effect.
According to Knight Frank, Singapore's 1H 2013 Total Investment Sales contracted 30.3 per cent from 2H 2012. It noted that total investment value in 1H 2013 amounts to about $10.3 billion, less than the high base of $14.8 billion of investment sales achieved in 2H 2012. On a year-on-year basis, 1H 2013 investment sales increased 10.5 per cent.
Contraction in 1H 2013 investment sales is largely due to the decline from a highbase of private investment sales in 2H 2012 with a fall of 40.9 per cent from $9.2billion in 2H 2012 to $5.5 billion in 1H 2013.
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