Rents for apartments in the city fringe areas are on the rise and this is being attributed to the concurrent increase in the number of small units that are generally under 500 sq ft in size. In a study by CBRE, rents in the city fringe, which covers areas like Balestier, Bishan and Geylang, rose to S$3.36 per square foot (psf) per month (pm) by the third quarter of this year, up from S$3.15 last year....
Rental
This week, two major employer groups raised the alarm about the labour woes faced by Singapore businesses. The Singapore Business Federation said companies in certain industries found it particularly tough to hire locals - notably in the food and beverage, construction and service sectors - and that foreign worker rules needed to be fine-tuned and tailored to specific industries. The Singapore...
If shopping malls seem to be a little more crowded these days, this is probably because retail space is not keeping up with the growth in population here. According to a Savills Research report, retail space per capita is estimated to have dropped to 7 sq ft from 8 sq ft over the past decade - and this is not taking into consideration the spike in visitor arrivals and a surge in supply. While retail...
The Republic has moved up two notches to rank seventh in a list of the world's most expensive office locations as of June, its highest ranking in two years. It is also the world's sixth most expensive warehouse location as of June, up from seventh position in December, according to two surveys by Colliers International released yesterday. Data shows that rental growth for Grade A offices in the Central...
Average rental values for private industrial space stagnated in the third quarter of 2011 as leasing demand softened for industrial space, according to DTZ Research. The average rent for hi-tech industrial space and upper-storey private industrial space stood unchanged quarter-on-quarter at S$3.45 and S$1.75 per square feet per month respectively in Q3 2011. DTZ said the slowdown in the office sector has...
Prime rents in Orchard Road have rebounded for the first time in nearly three years. That is according to a study by real estate consultancy CB Richard Ellis. Rents rose 5 per cent from the second quarter of 2011, to average S$31.60 per square foot per month. Rents were S$30.11 per square foot per month in the last quarter. The upturn follows a series of dips since 2008, when rents peaked at more than...
Rents for prime commercial properties are continuing to moderate. The deteriorating economic outlook has also seen Grade A office rental growth slow to its weakest pace in a year. Singapore's office property market cooled further in the third quarter. Colliers International said Grade A office rents in the CBD grew by a marginal two per cent in the quarter to S$9.08 per square foot per month. Rents in...
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...
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...
Rent of high-end homes might keep falling in the light of an increased supply and less generous housing packages for expatriates. Luxury home rents have dipped by about 2 per cent in six months, according to GPS Alliance associate agency head Jack Teo, while as an OrangeTee agent said, some of his clients have had to cut rents by about 5 to 7 per cent to land a tenant. Upscale projects such as The...