Subletting of excess space seems to be emerging as a viable option for tenants to ease their rental burden, as they look to navigate a slowing economy. With the latest spate of corporate downsizing by financial institutions, some companies may be giving up office space before their leases have expired. For these firms, they may - with the landlord's approval - look to sublet the space to another...
Rental
Rental prices for Housing and Development Board (HDB) flats climbed slightly by 0.7 per cent from the previous month in December, while rents for private apartments went up 0.2 per cent, according to a local property index. Year-on-year, rental prices for HDB flats in January fell 3.1 per cent, and were down 8 per cent compared to its peak in August 2013, flash estimates from SRX Property, released on...
Office buildings in the city fringes may be increasingly left vacant as tenants seek the opportunity to move into Grade A premises in the Central Business District (CBD) with rents weakening amid an onslaught of incoming supply. Pundits, such as Bloomberg columnist Andy Mukherjee, have blamed the weak office market here on a “fundamental miscalculation” on the part of some Singapore developers that...
Rents of non-landed private homes as well as Housing & Development Board flats continued to decline last year, based on the December 2015 flash estimates from SRX Property. However, the volume of rental contracts in both markets rose in December on a year-on-year basis. SRX Property's overall rental index for non-landed private homes eased 5.4 per cent in 2015, comparable to the 5.2 per cent fall in...
Rental values are likely to continue to slide in 2016, though this dip is not expected to last for too much longer, according to real-estate consulting firm DTZ Southeast Asia. Consumer sentiments, coupled with the expected completion of retail developments such as OUE Downtown Gallery, The Heart at Marina One and Tanjong Pagar Centre this year, are expected to "exert further downward pressure on...
Rental prices for non-landed private homes fell for the 10th straight month, by 1.1 per cent in November compared to October, according to flash estimates released by SRX Property on Wednesday (Dec 9). Units in the Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) saw decreases in rents of 0.7 per cent, 2 per cent and 0.7 per cent respectively. On a...
Rental prices for non-landed private homes fell for the ninth straight month by 0.4 per cent in October compared to September, according to flash estimates released by SRX Property on Thursday (Nov 12). Units in the Core Central Region and Outside Central Region both saw decreases in rents of 0.8 per cent. Homes in the Rest of Central Region saw a 0.4 per cent increase. On a year-on-year basis, rents...
The supply of new office space in the central business district (CBD) is likely to outstrip demand, giving tenants more options and forcing landlords to reduce rents amid global headwinds, according to analysts. Property services firm Century 21 has said that Singapore, being such an open economy, will be hard hit by global economic conditions such as the slowdown in China and the turmoil in stock and...
The occupancy rate in the industrial space market fell from 93 per cent in 2012 to 91 per cent in 2014, following the Government’s release of more industrial land in recent years. The occupancy rate of JTC’s and HDB’s industrial facilities also dipped from 97 per cent in 2012 to 94 per cent in 2014, said Trade and Industry Minister Lim Hng Kiang in a written parliamentary reply on Monday (17...
Rental prices for Housing and Development Board (HDB) flats fell 0.1 per cent in July from the previous month, according to data released by SRX Property on Friday (Aug 14). Rentals for 3-room, 4-room and 5-room flats saw rental prices decline by 0.4 per cent, 0.1 per cent and 0.2 per cent, respectively. Bucking the trend were executive flats, with a 0.5 per cent increase, SRX Property...