Seeking more support to offset rising rental cost takes top spot in the wish list of Singapore companies for the upcoming Budget 2013. This is according to a survey finding by the Institute of Certified Public Accountants of Singapore (ICPAS). While no official date for Singapore Budget has been announced yet, many companies are hoping that the government will hand out some goodies in this year's...
Rental
Rentals for private homes may have hit record prices and volume in 2012, but some market experts said the market will be slower in 2013. Median rents as of October 2012 has reached S$3.75 psf, 14.3 per cent higher than the S$3.28 psf in Jan 2011. Commodities trader Pushkar Jamnerkar will be looking to work and live in Singapore with his family for the second time. However, property prices have spiked...
Renting retail space at a suburban mall these days may not be very much cheaper than renting one at Orchard Road, say analysts. Colliers International said the gap between prime retail rents in the two segments have narrowed from 17 per cent in 2009 to 12 per cent this year. Demand for retail space in suburban malls will continue to be strong, say analysts, citing the improving quality of suburban...
The Republic's industrial sector is near a tipping point, and rents are expected to decline 7 to 10 per cent over the next two years on rising vacancy rates, DBS Vickers said in a research report yesterday. Lower completion of new industrial space over the last few years had resulted in record low vacancy levels and a strong surge in industrial capital values and rents since the start of this...
The rental yield for non-landed private property went down by 0.2 percentage points in the last 10 months, compared to the same period last year. According to statistics from the Singapore Real Estate Exchange (SRX), this brings the rental yield to 4.03 per cent. This is even though average rental rose by two per cent in the first 10 months, to reach about S$3.80 per square foot. In October alone, the...
Grade A offices in areas like Shenton Way and Raffles Place are now looking more attractive to Singapore firms. Experts said companies are taking advantage of cheaper rentals, as well as more space made available by large multi-national firms moving into the Marina Bay Financial District. IT marketing firm Sapient said they struck a pretty good deal for their current space at Cecil Street. After...
While Singapore’s residential leasing market cooled in September, leasing volume and median rents for Q3 still peaked at record highs, according to data from the Urban Redevelopment Authority (URA) and Savills Research & Consultancy. Last quarter, leasing volume hit a new historical high of 14,029 leases, surpassing the previous record of 13,028 in Q3 2011. With 37,668 leases already transacted in...
Monthly rentals of luxury apartments fell 0.8 percent in Q2 this year due to tighter immigration rules, noted Colliers International Research. The consultancy stated that stricter immigration controls affected spill-over leasing demand from foreigners who cancelled or postponed their buying decisions due to the additional buyer’s stamp duty (ABSD). “Coupled with the seasonal summer break lull, the...
The debate over industrial property has been consistently grabbing the headlines in recent months. Earlier this month, a news report highlighted a gap in data for industrial property. Apparently, some transactions were not captured in the Urban Redevelopment Authority's Realis database due to incomplete information provided in the caveats lodged. As a result, they were not used in the compilation of...
Singapore's famed shopping street, Orchard Road, has been ranked 25th most expensive in the world this year. With rents of retail space averaging at S$462.43 per sq ft a year, this is a notch up from last year against 129 cities in a study conducted by Colliers International. New York's Fifth Avenue and Hong Kong's Queen's Road Central and Canton Road were the world's top three most expensive shopping...