The figures are 56.4 per cent lower than the fourth quarter of last year.

The last time quarterly investment sales were lower was in the first quarter of 1998 when it reached just $49.28 million and the third quarter when it was at $110.62 million, said CBRE in a statement on Tuesday.

The bulk of first quarter sales - or 51.5 per cent - came from the residential sector.

And commercial investments amounted to $77.3 million.

The year ahead will be a less active one for the investment sales market when compared to the highs witnessed in the last three to four years.