The private home rental market is expected to face headwinds in the year ahead, given the large supply of new homes and slower demand due to tighter foreign worker policies. Analysts say rentals, as measured by the Urban Redevelopment Authority’s (URA) Private Residential Rental Index, may plateau and even fall in 2014 - potentially the first drop in four years. The URA’s Private Residential...
Rental
In time to catch the year-end shopping crowds, Singapore-listed CapitaMalls Asia is launching two of its projects in the suburbs this week. Westgate opened its doors on Monday and Bedok Mall will start business from Tuesday. But analysts told Channel NewsAsia it is not all joy for some landlords of retail property. With all its shop space fully leased, Bedok Mall is abuzz with retailers hurrying...
Spanning less than 538 square feet, shoebox units may be the smallest type of condominium units available. However, such units are gaining popularity among property investors -- unit owners are getting better returns by renting out these units compared to rental yields from the larger condos. The supply of condominiums are set to grow in coming months as more of such private homes are being built....
Office rental rates in Singapore are showing signs of recovery after continued declines in the past year, as companies move to secure additional space because of improving local and global economic outlook. Tier 1 office rents inched up 0.6 per cent quarter-on-quarter in the three months ended June 30, the first increase since the third quarter of 2011, property consultancy Jones Lang LaSalle said in...
Leasing demand in Singapore is up, despite some curbs on the issuance of employment passes. This is according to property consultancy Savills. Savills said the greater leasing demand is driven by an increasing number of overseas nationals who are here on a short-term project basis of between six months and a year, as well as the rising number of newly-wed couples waiting for their homes to be...
Average rentals of prime retail space in Orchard/Scotts Road and suburban areas stayed constant in the second quarter of 2013, following a slight dip in the previous quarter. DTZ said prime retail rents in Orchard/Scotts Road are expected to fall marginally in the second half of the year as new developments in the area are completed. Together, the completion of Orchard Gateway and the addition and...
Landlords of private homes may see the rental market softening when higher property taxes kick in next year, as these investors grapple with higher holding costs. Owning luxury or investment homes will incur higher property taxes starting January 2014. For private homes not occupied by owners, new marginal property tax rates of 12 to 20 per cent will be levied in addition to the current 10 per...
Rental movements across Singapore’s office, retail, industrial and residential segments are expected to be moderate this year, according to a report by Colliers International. Compared to 2012, rents of Grade A buildings are forecast to decline by five percent in 2013, while capital values could rise by five percent. Rents of luxury non-landed private housing could fall by 10 percent, while capital...
The Republic’s office rents are set to rebound from their first annual decline in three years as new supply shrinks and more businesses expand, said CapitaCommercial Trust. Rents in the city are reaching a trough and demand may rise as the country positions itself as a regional business hub, said Ms Lynette Leong, Chief Executive Officer of CapitaCommercial Trust. Supply for the next three years will...
Prices of shop space rose 2.0 per cent in 2012, while rentals dropped marginally by 0.3 per cent according to the latest statistics from the Urban Redevelopment Authority (URA). Yields of retail units have dropped last year, but most market experts Channel NewsAsia spoke to are optimistic about the demand for retail space in Singapore from both investors and retailers. After just one week, some retail...