Rental growth for residential units is expected to moderate over the next few years, as 30,491 new homes come onstream in 2013. This is according to property consultants. Data out earlier from the Urban Redevelopment Authority showed that residential rental growth slowed down to about 1 per cent in the first quarter this year - the slowest pace in more than a year. And the downward trend is expected to...
Rental
Industrial property markets worldwide showed signs of recovery in the second half of 2010, led by the Asia Pacific region. This is according to a report by international property consultant, Colliers International, which tracked the performance of industrial property rents across 150 cities. Singapore retained its position as the seventh most expensive location for prime warehouse space at US$15.71 per...
Rents for high-tech industrial properties in Singapore grew at a faster rate in the first quarter, DTZ Research said yesterday. The average rent for high-tech properties, which include business parks, rose 3.1 per cent quarter-on-quarter to S$3.30 per sq ft per month in the first three months of the year, following a 1.6-per-cent increase in the previous quarter. Rents for conventional industrial space...
Singapore has ranked 9th in the list of most expensive office locations globally, up from 15th place six months ago, said property consultants Colliers International in a report issued Wednesday. The Global Office Real Estate Review 2H2010 said that Grade A office rents in the Singapore's central business district (CBD) continued to trend up, with rental growth momentum picking up pace from 6.6 per cent...
Rents for hi-tech industrial properties in Singapore grew at a faster rate in the first quarter. According to DTZ Research, the average rent for hi-tech properties, which include business parks, rose 3.1 per cent quarter-on-quarter to S$3.30 per square foot per month in the first quarter. It had increased 1.6 per cent in the previous quarter. Rents for conventional industrial space also continued on its...
Singapore office rentals will likely rise by double-digits this year amid expectations that foreign companies will scale up investments in the city-state given improved economic conditions, according to Keppel Land. "As the office upturn continues to run its course, property consultants are predicting another year of double-digit rental growth, barring unforeseen circumstances," said the property arm of...
The retail leasing market gave mixed signals in Q1 2011, said property consultants CB Richard Ellis (CBRE). It said monthly rents for prime Orchard Road averaged S$30.10 psf per month in the first quarter, reflecting a decrease of 0.5 per cent from a quarter ago. Prime suburban rents remained at S$29.10 psf per month, unchanged from the previous quarter. A few major leasing deals were concluded in the...
Office rents may be on an upward trend, but experts say that they will rise at a more moderate pace. In a report out Wednesday CB Richard Ellis (CBRE) said that prime rents averaged S$8.60 per square foot per month in the first quarter of 2011. This reflects a more moderate quarter-on-quarter increase of 3.6 per cent in comparison to the 7.2 per cent increase in Q3 and 12.2 per cent in Q4 of 2010. CBRE...
Rental growth for offices in secondary office areas at the fringe of Singapore's CBD and outskirt areas outpaced those in Raffles Place in the first quarter. According to DTZ Research, the average gross rent of offices in Raffles Place rose 3.3 per cent quarter-on-quarter to S$9.30 per square foot per month in the first quarter, compared to a 7.5 per cent to 10 per cent increase in other areas. The...
The Singapore office property market continued on the path of strong recovery in the first quarter of this year, according to property consultancy firm Colliers International in its latest study. It said growth was underpinned by rising business confidence that spilled over from the country's strong economic performance in 2010. Average monthly gross rents of Grade A office space in the Raffles Place and...