SALES of investment property are in the doldrums with the global financial mayhem and credit crisis slowing buying interest so far this quarter. Nearly all sectors have been 'relatively quiet' apart from the hospitality industry, which has 'remained healthy', said a CB Richard Ellis (CBRE) report yesterday.

CBRE said a total of $3.17 billion worth of investment transactions have been recorded so far this quarter - the period actually runs until Sept 30 - down from $4.86 billion in the April-June quarter.

The figure is also a fraction of the $16.51 billion recorded in the third quarter last year, and likely to mark the fourth consecutive quarter that investment transactions have dropped.Total investment sales for 2008 so far have totalled $17.12 billion.

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