Rental prices for Housing and Development Board (HDB) flats and non-landed private residential units both dipped in October, compared to the month before, according to flash estimates from SRX Property. For HDB rental market, rents slid 0.5 per cent on-month. The dip in prices was experienced by 4-room (0.8 per cent), 5-room (0.2 per cent) and Executive flats (1.4 per cent), but rental prices for 3-room...
Rental
The office rental market continues to grow ahead of the retail and industrial property segments. Latest data from the Urban Redevelopment Authority (URA) on Friday (July 25) shows that rentals of office space rose 2.8 per cent in the second quarter of 2014, compared with a 2.4 per cent increase in the first quarter. Analysts say they could climb by another 5 per cent in the second half of this...
As the housing market moves into the peak rental season, the Core Central Region (CCR) continues to struggle to regain the rents it commanded before the global financial crisis. According to the Singapore Real Estate Exchange’s (SRX) Rental Price Index for non-landed private homes, rents in the CCR are now down 1.9 per cent from their pre-crisis peak. The CCR consists of the city centre including...
Some analysts expect rentals of private homes in Singapore to fall for the second straight quarter ending in March this year, as a higher supply of new projects is expected to come on stream. Chesterton Singapore estimates that overall rentals could fall by 0.5 to 1 per cent in the first quarter. This comes after rentals slipped 0.5 per cent in the last quarter of 2013, the first decline in four...
Office rents in Singapore's central business district rose 3.2 per cent in the first three months of 2014 from the fourth quarter of last year, helped by an improvement in global business sentiments. Property consultants Colliers International said on Wednesday that the average monthly gross rents for Premium and Grade A office space in Singapore's CBD increased to S$8.99 per square foot in the first...
More comprehensive rental data will be made available to the public later this year, according to Minister of State for Trade and Industry Teo Ser Luck. Speaking in Parliament during the Committee of Supply debate on Thursday, Mr Teo said small and medium enterprises (SMEs) have given feedback that they face significant rental spikes when their tenancies are renewed. Mr Teo said: "To help businesses...
It's now easier for tenants to negotiate rentals for private residential homes as some landlords have become increasingly concerned about the impact of looming supply of rental units, according to some property agents. SLP International Property Consultants said average rentals have fallen by 1 per cent in recent months, as they foresee more downside this year. A total of 19,907 private residential...
Prime Orchard Road rents are expected to dip slightly this year as some restaurants look for cheaper space on the fringes of the city-centre, Savills said in a report on Friday. Rising manpower costs in a tight Singapore labour market are also discouraging retailers from expanding, contributing to the downward pressure on rents, the UK property services firm said. Savills said it expects rents at...
Singapore office rents are likely to rise by 5 to 10 per cent this year, due to lack of new supply coming into the market, real estate firm Savills said on Thursday. "The overall vacancy rate of CBD (Central Business District) Grade A offices tracked by Savills declined for the fourth consecutive quarter, from 7.8 per cent at the end of 2012 to 3.4 per cent by the end of Q4 2013," Savills said in a...
Rental yield for non-landed private homes fell below four per cent in 2013, according to figures from the Singapore Real Estate Exchange (SRX). The median gross rental yield for non-landed private residential properties dropped from 4.2 per cent in 2012 to 3.9 per cent last year. SRX said 4 per cent represents a psychological barrier when it comes to rental yields for investors seeking income from...