Office rents in Singapore are starting to show signs of peaking, said property analysts. They noted that prime rental costs have generally increased at a far slower pace in the first half of this year, compared to 2007. Looking ahead, they expect office rents to soften even more towards the end of 2009 and early 2010 as demand for prime space eases. Donald Han, managing director of Cushman &...
Office Rental
Singapore's office property sector market appears to be cooling a little. According to property consultant DTZ, the average office occupancy rate for the second quarter of this year saw a dip of 0.2 percentage point. Office rental prices have also been flat - suggesting that the market is resistant to rising prices. According to DTZ, the average office occupancy rate in the second quarter dipped to 96.9...
Vietnam's Ho Chi Minh City has overtaken Singapore as having the world's fastest growth in office occupancy cost. The cost of renting office space in Ho Chi Minh City grew 94 percent in the last six months, according to a global survey by consultants CB Richard Ellis. Moscow was second at 93 percent, while Singapore took third spot with 86 percent growth. Still, Singapore made its debut among the 10...
Supply of homes, vacancy rates up, but buyers discouraged by high prices THE lacklustre property market seen in the first quarter of this year is likely to persist, with developers expected to launch more projects in the months ahead, increasing the supply of new homes even as buyers stay away. The prices of homes in both the private and public sectors rose at a much slower pace in the first quarter...
Office rents in Singapore are likely to rise at a slower pace this year, even as supply, especially in prime areas, remains tight. Robust demand for grade A office space by financial institutions and other companies will still contribute to overall rental growth, but it would not match the upward spiral seen last year, said property consultants. “A variety of factors indicate a slower pace of rental...
Rentals of Grade A offices in Singapore are expected to continue rising this year. According to property consultant Savills, average office rentals here may even nudge above that of Hong Kong's, currently the highest in the region. They added that Singapore's office property sector will continue to remain buoyant despite worries over the US sub-prime crisis. One Raffles Quay in Singapore's Central...
Singapore has moved up 10 spots to become the world’s seventh most expensive office location. According to Cushman & Wakefield’s global ranking, prime office rents shot up 78 percent in Singapore last year. The property consultancy expects demand for office space from companies across most industry sectors to remain strong this year against a tight supply till 2010. Cushman is predicting that...
The strong demand for office space in the central business district has spilled over to the rest of Singapore. According to property consultants DTZ, the occupancy rate for office space islandwide climbed to 97.6 percent in the third quarter. This is largely because of an acute shortage of office space in the Central Business District (CBD). DTZ says the shortage is due to the demolition of Asia...