Here’s our summary of the important residential, commercial and industrial news this week. We hope this helps you to save time catching up on the news!
Average holding period for subsales increased to 2.31 years in Q1 2011
Savills’ study revealed that the average holding period for subsales in Q1 2011 was 2.31 years, an increase from the 2.07 to 2.23 years in the previous quarters of last year and the longest since Q1 2008. 97.4% of the subsales in Q1 2011 were profitable, and there was an increase in the average gain per profitable subsale deal to $315,043 from $283,498 to $289,004 in the previous quarters. The most profitable subsale deal in Q1 2011, which consisted of a ground-floor unit at Nassim Park Residence, made a profit of $3.44 million. A deal for an apartment at Orchard Residences was the biggest subsale …