Renting prime office spaces in the Central Business District (CBD) has been getting cheaper since the third quarter of 2011. However, landlords need not fret any further. Experts said the Grade A office market will soon reach its bottom by the end of 2012. Without new office space in the CBD being injected in the second quarter of 2012, landlords have much to cheer. Analysts said this will stem the...
Rental
Singapore's retail rents remained resilient in Q2 2012, supported by a high employment rate and tourist arrivals. According to property consultancy DTZ, the average rents of prime retail space in Orchard/Scotts Road rose marginally by 0.1 per cent quarter-on-quarter to S$30.33 per sq ft per month. Meanwhile, average rents in suburban areas increased 0.2 per cent to S$28.35 per sq ft per month. However,...
Property owners who are worried that the return on their residential investment properties might have taken a tumble can afford to relax as rental yields held their ground last month. This is mainly due to falling prices in the city centre and city fringe region and sustained rental demand. Data from the Singapore Real Estate Exchange (SRX) found that overall yields for private non-landed homes was 4.06...
Singapore's office vacancy rates are expected to rise further across all grades and micro markets, with a peak expected in 2013, according to property consultant CB Richard Ellis (CBRE). Island-wide vacancy in Singapore increased to 7.3 per cent in Q1 2012. Vacant stock island-wide totalled 3.8 million sf. In Core CBD, the vacancy rate grew to 9.30 per cent from 8.80 per cent in Q4 2011. Going forward,...
Leasing demand for residential properties in Singapore remained robust in the first two months of this year as transactions hovered above 3,000 each month, according to Savills Research. Its data showed that there were 3,446 leasing transactions in February 2012, down 5 percent on-month. But Savills said February's transactions were still higher than the 2,767 transactions recorded a year ago. Based on...
With a growing number of senior executives from the expatriate community leaving Singapore, some prime locations are seeing a drop in asking rentals. Based on data compiled by The PropertyGuru, the most notable fall in median asking rental prices was seen in District 4 (Harbourfront / Telok Blangah), recording a significant 15 percent decline from a median price of S$7,900 in Q4 2011 to a median price of...
Vacancy rates of Grade A office buildings in the central business district (CBD) declined at a slower pace to 6.5 per cent in the first quarter this year. This compared to the 6.8 per cent fall in the fourth quarter of last year. According to property consultancy Savills Research in its latest report on the office sector on Friday, the leasing market has been dominated by enquires from small- to...
A three-bedroom villa at luxury hotel Capella Singapore is being offered for long-term rentals at S$42,000 a month, making it one of the most expensive rental properties here. "We are targeting at least a two-year lease," said Mr Robert Lagerwey, general manager of the five-star hotel, which opened on the leafy tropical island of Sentosa in March 2009. The house, which covers 4,693 sq ft on two floors,...
Rental rates for shops in the prime Orchard/Scotts Road belt dropped in the first quarter from a year earlier, and will continue to slide in 2012, according to industry researcher, DTZ. It said an expected moderation in tourist arrivals, tighter labour supply and more properties coming on-stream will all act to soften the retail rental market. It forecasts rents will fall by two per cent to four per cent...
Shoebox units may be small, but for those who need an even smaller space, utility rooms and bomb shelters are being rented out. Some homeowners have resorted to renting out the smallest rooms in their house for extra income, although the practice is illegal for public housing. As for private property, no clear guidelines cover this practice. Owners usually put in a single mattress or a bed and a small...