(Nov 14): A series of blockbuster land deals in Singapore this year signal the city-state’s property market is set to break out of its prolonged slump in 2018.

A Chinese group lobbed a winning record bid for a residential plot, while Guocoland paid a record per-square foot price for an office development site in the central business district. Office rents last quarter rose for the first time in 2 1/2 years and home prices ended a four-year slide.

The spending spree may not be over, with more than $3.3 billion of land deals set to be completed by the end of the year, pushing the annual total to $14 billion, the highest since 2011, according to Cushman & Wakefield Inc.

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