Office rentals for international Grade A office space in Singapore's prime financial district look set to climb higher by at least 25 per cent over the next two years. This was the view of property analysts who believe that office property rents have already reached bottom, and will likely see a strong pick-up from the second half of this year. "International Grade A" refers to a new generation of office...
Rental
Singapore's office property market is picking up, according to brokerage firm Nomura. It noted that office rentals in Singapore are bottoming out amid stronger-than-expected demand, prompting tenants to commit sooner than expected. Nomura said a reduction in occupancy costs and the desire to secure contiguous expansion or better quality space has prompted pre-commitments. Given such stronger demand -...
Singapore has moved up one spot to become the 17th most expensive retail location in the world. According to the latest CB Richard Ellis (CBRE) Global MarketView report on the retail sector, prime retail rents in Singapore stood at US$436 ($619) per square foot per annum in the first quarter of this year. It said prime retail rents in the world's leading shopping destinations have stabilised in most...
Singapore has moved up one spot to become the 17th most expensive retail location in the world. According to the latest CB Richard Ellis (CBRE) Global MarketView report on the retail sector, prime retail rents in Singapore stood at US$436 per square foot (psf) per annum in the first quarter of this year. It said prime retail rents in the world's leading shopping destinations have stabilised in most...
A man was sentenced to 16 months' jail in a district court on Monday for cheating four China nationals of S$10,700 in rental fees. Ivan Tey, who is 35, owns a four-room flat in Jurong West. Although he had rented the flat to other tenants, he approached different housing agents in October and November last year to look for prospective tenants to rent the flat to. He found four different tenants and...
The upswing in office leasing deals continues, helping to absorb more of the space in new office projects being built. Much of the latest leasing buzz has focused on Ocean Financial Centre (OFC) and 50 Collyer Quay, which are completing next year, as well as 71 Robinson Road, which was completed last year. Click here to find out more! Law firm Drew & Napier is believed to have inked a lease for...
BE CAREFUL if you are looking to rent a home here, or you could fall prey to a rental scam. This is how it works: A conman, using a fake name, poses as a landlord with rooms for rent at low prices. Click here to find out more! He gives fake addresses of apartments in areas like Orchard and Chinatown. He refuses to arrange for a viewing of the apartments, claiming that he is in Britain on internship and...
Self-styled property investor Calisa Cheong Mei Ing was back in court on Tuesday after having her mitigation plea rejected last year. In remand since July last year, Cheong faces 74 counts of cheating tenants of rent money and obtaining credit as an undischarged bankrupt. When she appeared in the subordinate courts last October, the 40-year-old told the court she had wanted to plead guilty so as to fast...
Raffles Place is not likely to lose its lustre as a business district, said Ms Lynette Leong, chief executive officer of CapitaCommercial Trust (CCT), which has three office properties in the area. Despite some financial institutions moving to Marina Bay, she is seeing interest from existing tenants and potential tenants for more office space in the Trust's Raffles Place properties, which include One...
A 45-year-old man was fined $600 after he admitted to that he had rented out his shop space to an unlicensed massage business. The case came to light in March last year, when police officers conducted checks at Oh Eng Siong's shop in Fortune Centre and found three cubicles partitioned with curtains. Investigations revealed that body massage services were being provided within these cubicles, out of the...