Rental prospects for the industrial property market in Singapore are the strongest in the Asia Pacific region, according to a report by DTZ Research. The real estate advisory company said prime industrial rental growth between 2011 and 2015 is forecast at about 5 per cent for Singapore. DTZ noted that industrial rents were already up 5 per cent in the first half of 2011 compared to the previous year. It...
General
The consumer price index (CPI) grew to a seasonally adjusted 0.6 percent in July, an increase from 0.4 percent in June, according to the Department of Statistics. It added that housing costs, including utilities tariffs and imputed rentals, grew 9.5 percent in July, an increase from 8.8 percent in June. In addition, the department reported an increase in electricity tariffs this quarter, due to higher...
The Urban Redevelopment Authority (URA) has launched the industrial site at Kaki Bukit Road 4 for sale by public tender today. This is one of the three industrial sites to be released for sale under the Confirmed List of the 2nd half 2011 Industrial Government Land Sales Programme, as announced by the Ministry of Trade and Industry on 30 June 2011. The other two industrial sites namely, at Lavender Street...
Mainboard-listed Saizen Real Estate Investment Trust (REIT) has declared a distribution per unit of 0.50 cent for the six months ended 30 June. The purely Japanese regional residential property trust also reported its distributable income as at 30 June this year amounted to S$6.1m, compared to S$2.7m in the same period in 2010. The REIT said the increase was mainly due to a lower amount of cash used for...
A new study by Savills Singapore has revealed that five projects on sites sold under the 2006 — 2010 state land sales programmes will fetch at least 50 percent more units than the numbers indicated in the Government Land Sales (GLS) programmes. Kovan Grandeur at Tampines Road comprised the highest percentage of “surplus units” over the GLS programme’s estimates. The project’s 74 apartments are...
Home owners eager to sell their flats seem to have lowered their expectations of getting large cash premiums, after the Housing and Development Board (HDB) raised the income ceiling for new flats and housing subsidies. Property agents expect the new rules to change the make-up of HDB resale flat buyers, as it will create more housing options for the elderly, couples and singles. With the possibility that...
During difficult economic times, rental properties are less profitable for landlords. However, there are still some condominiums where rental yields can hit 5.7 percent. Condos such as Blossoms@Woodleigh, Adam Park Condo, The Jade and Far Horizon Gardens, have yields higher than five percent. According to the latest study by Kim Eng Research, areas such as Choa Chu Kang, Sengkang and Woodlands have...
Luxury home prices in Singapore fell 1.7 per cent in the second quarter of the year from the first three months, the biggest drop in CBRE's list of cities in its Asia Luxury Residential report. CBRE said that no new luxury residential projects were launched in Singapore during the second quarter as existing projects continued to struggle to attract buyers. Luxury home rents fell by 1.9 per cent...
Hong Leong Garden Shopping Centre at West Coast Way has been launched for sale by tender with an indicative price of between S$160 million and S$170 million. This works out to be a land rate of approximately $752 to $794 per square foot per plot ratio for redevelopment up to a gross plot ratio of 1.6, after factoring in the estimated land premium for the potential of acquiring the adjoining state land...
Direct real estate transaction volumes rose 225 per cent year-on-year (y-o-y) in the second quarter of this year to US$2.2 billion (S$2.7 billion). According to Jones Lang LaSalle's (JLL) Asia Pacific Capital Markets Bulletin, this was boosted by double-digit growth in the financial services sector which continued to drive gross prime Raffles office rents up 1.5 per cent over the previous quarter, even...