Singapore has moved up 10 spots to become the world’s seventh most expensive office location. According to Cushman & Wakefield’s global ranking, prime office rents shot up 78 percent in Singapore last year. The property consultancy expects demand for office space from companies across most industry sectors to remain strong this year against a tight supply till 2010. Cushman is predicting that...
Market Reports
Property prices are expected to rise around ten to 15 per cent around the 100 new MRT stations to be built, analysts said. The government announced Friday that it would pump S$20 billion to double the rail network by 2020. Properties are going to be hot around the new 100 stations, with malls and public facilities expected to draw crowds to the stations. Property consultants are forecasting price...
HDB resale prices have gone up by a better-than-expected 17.5 per cent in 2007, the fastest rate since prices soared by 25 per cent in 1996, latest official figures by the Housing Development Board (HDB) showed. Most homes in Singapore have appreciated to the highest levels since 1996. The price of a three-room HDB flat was an average of S$149,000 in the last quarter while a five-room flat in Marine...
Private property prices will see slower growth in the first quarter of this year, amid the current upheaval in global financial markets and a possible US recession. That is according to property consultants who said prices will be supported by rentals which will continue to climb higher this year. Related Video Link - http://tinyurl.com/2ew98s There has been frenzied buying and selling in the financial...
Hotel sales in Singapore topped US$376 million last year, putting it in sixth position in transaction activity in Asia. This is a 3.5 per cent growth from 2006. According to Jones Lang LaSalle Hotels, Japan saw the highest activity last year with US$6.8 billion of deals done, a 63 per cent jump from the previous year. Jones Lang attributed the lure of Japan to the low cost of debt. It added that while...
Homebuyers were more cautious and realistic when paying for new properties last month, according to analysts’ assessment of the latest data from the Urban Redevelopment Authority. The figures showed the number of new properties sold in December was just half of those sold in the previous month. After peaking at 1,800 units in August, monthly sales of new private properties have dropped to just 291...
Lull normal during year-end holiday season: Analysts The number of new private homes sold in December about halved from the month earlier, but analysts attribute the drop to the year-end holiday season and say it is not necessarily an indication that the property market has peaked. According to data released by the Urban Redevelopment Authority yesterday, 328 new private residential units were sold in...
A dearth of supply and high demand from businesses expanding in the region drove up prices so much that Singapore recorded the second highest annual growth in office occupancy costs in the world last year. Annual office occupancy costs here rose 93 per cent to US$16,220 ($23,275) per workstation, just behind Moscow’s 95-per-cent growth, according to real estate consultancy DTZ Debenham Tie Leung’s...
And prices likely to rise further, albeit slower, say analysts A YEAR of feverish activities in the property market has pushed up the price indices for both private housing and HDB resale flats, as the latest official estimates confirmed what frustrated prospective buyers already know: Property prices are going through the roof. According to figures released by the Urban Redevelopment Authority (URA)...
Private residential property prices rose by a slower pace in the fourth quarter - up 6.6 per cent compared with the previous three months. Meanwhile resale prices for public housing or Housing and Development Board flats grew by 5.6 per cent in the fourth quarter. That’s also at a slower pace, down from 6.6 per cent in the previous quarter. Analysts believed this was due to the uncertainty over the...