Rental

Prices of office space up, retail space down in Q2: URA

Prices of office space rose 0.3 per cent in the second quarter compared to the previous quarter, while prices of retail space fell 0.5 per cent, the Urban Redevelopment Authority (URA) said on Friday (Jul 24). Rentals of office space fell 2.6 per cent in the second quarter, compared with the 0.6 per cent increase in the first quarter. Rentals of retail space decreased by 0.5 per cent, compared with the...

Industrial property prices, rents continue to fall: JTC

The prices and rentals of industrial space in Singapore have continued to soften, following an increase in supply of industrial land and space by the Government, according to JTC in its quarterly market report released on Thursday (Jul 23). Overall, the prices of industrial properties fell 0.9 per cent year-on-year in the second quarter of 2015. The prices of multiple-user factory space saw a 2.3 per...

Private homes rents dip, HDB rents up marginally in June: SRX Property

Rental prices for non-landed private residences fell by 0.5 per cent in June compared to May, according to flash estimates released by SRX Property on Wednesday (Jul 15). Non-landed private property units in the Core Central Region and Outside Central Region saw rental prices fall by 0.8 per cent and 0.7 per cent, respectively, while units in the Rest of Central Region saw no change. June’s rents...

Orchard Road retail rents scrape four-year low

When Singaporean Hidayu Mustaafa craves for retail therapy, she walks to a mall five minutes from her home in the eastern suburb of Tampines instead of bussing down to Orchard Road - the island-state's shopping Mecca. That is bad news for Orchard Road's glitzy malls, which showcase brands such as Inditex's Zara and H&M, as well as luxury names like Chanel and Prada. Increased competition from...

A patchwork quilt of rental yields

In an era of cooling measures and loan curbs, sales transactions in the Singapore property market continue to languish. The action is in rentals, at least in terms of the number of deals. SRX Property data shows that rental deals represented about 67 percent of a total of 115,864 property transactions last year and are hovering at about the same percentage so far this year. In contrast, rentals...

Retail rental market operates without much Government interference: MTI

The Government, as a general principle, allows the market to operate without having to prescribe how landlords and tenants structure their leases, said Minister of Trade and Industry Lim Hng Kiang. Stepping in would lead to inefficient outcomes and make all parties worse off, he added. Mr Lim said this on Monday (May 11) in a written parliamentary response to a question by Member of Parliament Lee Bee...

Singapore retail rents seen falling further after declining in Q1: Cushman

Shopping mall rents in Singapore fell during the first quarter and will likely decline further over the next 12 months, hurt by falling visitor arrivals and weak retail sales, property services firm Cushman & Wakefield said on Wednesday (Apr 8). Cushman said the biggest drop was seen in city fringe areas such as the City Hall and Marina Centre area, where rents fell 1.3 per cent quarter-on-quarter to...

Rentals for HDB, private homes slid in February: SRX Property

Rental prices for Housing and Development Board (HDB) flats fell 0.3 per cent in February from the previous month, while rents for private homes also continued to fall, according to SRX Property. Three-room and four-room flats saw rental prices decline by 0.8 and 0.6 per cent, respectively, while five-room and executive flats, in contrast, saw a pick-up in rental prices by 0.7 and 0.5 per cent,...

Slight rise in private home rentals, HDB rents decline

Rental prices for Housing and Development Board (HDB) flats fell 0.5 per cent in January from the previous month, while rents for private homes rose 0.2 per cent, according to SRX Property. Four-room, five-room and executive flats saw rental prices fall 1.3 per cent, 0.3 per cent and 1.6 per cent, respectively. Three-room flats, however, bucked the trend with rents rising by 0.3 per cent. On-year,...

Shopping mall rents set to fall in 2015: Savills

Rents for shops and restaurants in Singapore are expected to fall this year, with prime rents on Orchard Road forecast to recede by 3 to 5 per cent and rents in suburban malls by up to 3.0 per cent, real estate services firm Savills said in a report on Wednesday (Feb 11). "It appears that landlords in the prime shopping districts are beginning to hold out olive branches to retailers, many of whom are...

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