Prime residential rentals in Singapore have been boosted by new supply in the third quarter. According to preliminary estimates from Jones Lang LaSalle, average prime non-landed residential rental experienced a slight uplift of 1.1 per cent quarter on quarter. It rose to $4.65 per square foot per month in the third quarter as higher rentals commanded by the new completions benefited the rentals in the...
Rental
Singapore's office market rebounded in the third quarter as rents increased across all districts. Global real estate adviser DTZ said prime rents in Raffles Place rose 6.3 per cent on-quarter to S$8.40 per square foot per month. Average office rental values in other parts of the city centre saw a significant rental growth of 4.2 per cent to 7.3 per cent in the quarter. This comes after rental values...
Rental for prime Orchard Road locations remained stable at about S$31.10 per square foot in July and September after contracting for the last seven quarters. Property consultancy CB Richard Ellis (CBRE) said rent in suburban malls however continued to strengthen. It said this is because of a strong catchment demand. Prime Suburban rents rose to S$29 per square foot, per month between July and September...
Rental rates in the private property market are poised to rise with the expected influx of some 80,000 foreign workers this year. Analysts said this is because of the shortage of private housing. And the supply situation may not improve this year, as only 5,000 private housing units are expected for completion by the end of the year. The Government's forecast on the number of foreign workers here comes...
Rental rates in the private property market are poised to rise with the expected influx of some 80,000 foreign workers this year. Analysts said this is because of the shortage of private housing. And the supply situation may not improve this year as only 5,000 private housing units are expected for completion by year's end. The government's forecast on the number of foreign workers here comes on the...
Retail rents for underground malls in the city could rise by between 20 and 40 per cent in the years ahead, as the Government roll out plans to improve the rail network, according to some analysts. With the Land Transport Authority set to spend $60 billion over the next decade on initiatives to ease passenger congestion, market watchers said the move could also direct more traffic to underground...
More office transactions are taking place and buyers are also willing to raise their offers to match promising performance of the office sector About two years ago, following the collapse of Lehman Brothers and the deepening global financial crisis, property analysts were pessimistic about the Singapore office market amid concerns over weak demand and a supply overhang. Companies began slashing jobs...
Some analysts have said retail rents for underground malls in the city could rise by between 20 and 40 per cent in the years ahead, as the Singapore government rolls out plans to improve the rail network. The Land Transport Authority will spend S$60 billion over the next decade on initiatives to ease passenger congestion. Market watchers added that the move could also direct more traffic to underground...
A hefty rental hike for Sunset Way eateries led to shock and awe. The detente that followed appeased the stayers. The bruising war in the niche area, touted as the next Holland Village, erupted nearly three months ago. The master tenant for the eateries, Circles International Solutions (CIS), had on June 1 raised rentals by up to 80 per cent. At least five eateries at Block 106 in Clementi Street 12...
Office space take-up rates continue to strengthen in Singapore and across Asia Pacific. According to Jones Lang LaSalle, this is due to improved economic climate and stronger business confidence. Jones Lang LaSalle said that in the second quarter of this year, take-up of office space across Asia Pacific's Tier I cities increased by 13 per cent on-quarter to 1.3 million square metres. It added that in...