THE property market might not be red-hot at the moment, but the bullrun last year was enough to send sales revenue at the Singapore Land Authority (SLA) shooting to a ten-year high of $12.4 billion.

This was a two-fold increase from the $6.2 billion achieved in the 2006 financial year, and is just shy of the record set in 1997, when sales revenue climbed to $14 billion.

SLA's annual report, released on Tuesday, showed that land sales proceeds from the private sector hit a new record of $10.4 billion, compared to $3.5 billion for 2006, and $6.9 billion in the last property peak in 1997.

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