THE past week has been, in a word, “stressful” for the 27-year-old advertising agency executive who has been busy juggling work with “running around looking at apartments”. “Even my lunch breaks are spent meeting agents to check out places to rent,” Jenny (not her real name) told Today. Making things even more difficult, rental rates, she claims, have “shot up”, leading her to conclude...
Rental
Cove Development says that 49 former tenants of Ideal Accommodation have decided to stay on at The Grangeford after the June 30 deadline. They are being offered rental rates of between S$2,600 and S$3,500 for a whole apartment. Until the deadline, residents can continue to stay at The Grangeford rent-free, while they seek other accommodation. Cove recently took control of The Grangeford, after...
The housing saga at The Grangeford condominium continued on Friday. Landlord Ideal Accommodation told tenants they can stay till end-June, so that it does not have to return them their month's deposit. Those who have given more than a month's rent will get back the balance. There was also drama on Friday after some tenants went to Ideal's office demanding a staff accompany them back to The Grangeford to...
Some 300 residents of troubled condominium The Grangeford said owner Cove Developments have no right to evict them since their rental leases were signed with another company. Ideal Accomodation had been contracted to rent out the apartments but Cove said that has since been terminated. The condominium came under the spotlight after the authorities found some 140 apartments converted into 600 units...
Residents of The Grangeford condominium off Orchard Road continue to face eviction after their landlord illegal partitions in their units. They were given three days notice to clear out by the landlord, who'd known for at least a month that the partitions breached government rules. Tenants of The Grangeford were informed on Sunday that they had three days to move out. With the deadline looming, many are...
The rental cost for industrial properties in Singapore could come down by as much as 30 per cent this year. Property consultants said this is due to a drop in demand as companies scale back their space as well as increased supply. A slump in demand for Singapore's exports has led to factories running at excess capacity and this has prompted companies to either put expansion plans on hold, or even scale...
Real estate consultancy firm Colliers International says the industrial properties market has been hit by the global financial crisis. Its latest bi-annual survey found that rents, land and capital values of industrial properties in most cities across the Asia Pacific, except for Jakarta, contracted by up to 40 per cent. The study of 13 key cities in the region was conducted between October 2008 and...
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The cost of prime office space in Singapore is expected to halve by the end of the year, to hit almost five-year lows. It fell sharply by 25 per cent to about S$9.20 per square foot per month in the first quarter this year, compared to the previous quarter. Analysts expect a similar fall in the second quarter, before a moderation in the second half of the year. 2.4 million square feet of office space...
Office occupancies and rentals in Singapore fell sharply in the first quarter of 2009, according to latest figures from property consultancy DTZ. DTZ said the data showed that companies continued to consolidate space and put expansion plans on hold in the wake of the global financial crisis. According to DTZ, office rents slid 18 per cent on average island-wide. This was the steepest decline since the...