The rental market may improve this year, as home buyers are likely to put off purchasing amid the recent cooling measures, said analysts. Over the next year, a larger pool of tenants might stabilise the rental market or cause a five percent increase in rents. This counters earlier expectations of a downtrend in rents due to a large supply of completed units entering the market this year. Rents were...
Singapore Rental
Underpinned by strong employment rate and sustained economic growth, residential rental transactions in 1Q2011 grew 8.7% y-o-y to 10,162, says Savills in a report. This is considered the highest level of transactions seen since records began to be kept in 2000. Growth in rental rates, however, slowed during the quarter to 1.2%, from 2.6% in 4Q2010, as a growing volume of new supply came on the market....
Prime residential rentals in Singapore have been boosted by new supply in the third quarter. According to preliminary estimates from Jones Lang LaSalle, average prime non-landed residential rental experienced a slight uplift of 1.1 per cent quarter on quarter. It rose to $4.65 per square foot per month in the third quarter as higher rentals commanded by the new completions benefited the rentals in the...
Rental rates in the private property market are poised to rise with the expected influx of some 80,000 foreign workers this year. Analysts said this is because of the shortage of private housing. And the supply situation may not improve this year, as only 5,000 private housing units are expected for completion by the end of the year. The Government's forecast on the number of foreign workers here comes...
Consider this: Rentals are sliding while residential property sales continue to scale new heights in the current troubled times. With almost half of recent buyers being potential investors with private addresses, could these people be punting on a rental recovery? If so, they may be staring at a wait of several years for the uptick. "I don't expect any rental recovery for the rest of this year," said...
SINGAPORE’S drive to become an education hub is providing a form of support for the home leasing market. According to property and student agents, more international students in Singapore are turning to condominiums for accommodation even as the more traditional hostels and HDB flats remain in hot demand. The influx of foreign students has visibly strengthened since the Economic Development Board...
Property prices across the board were down in the first quarter of 2009. Official figures released Friday showed that in the private property market, residential, office, shop and industrial properties decreased fetched lower prices both in terms of sales and rentals. As for HDB’s Resale Price Index (RPI) for public housing, it showed a fall by 0.8% in 1st Quarter 2009 over the previous quarter. This...
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Private residential properties in Singapore saw a sharp fall in rentals and a slight price decline in the first quarter of 2009. Real estate consultancy firm DTZ in its report on Tuesday said monthly rentals of luxurious homes slid 18.8 per cent to S$5.20 per square foot, a level not seen since the third quarter of 2006. Rent of units in prime districts also saw a drop, down 16.2 per cent to S$3.65 per...
Singapore developers are likely to pass on benefits from this year's Budget to their tenants. The Real Estate Developers' Association of Singapore (REDAS) said this will help them through the current tough times. Key players in the property industry came together to enjoy the traditional Lunar New Year dish, Yu Sheng (raw fish salad). The dish symbolises abundance and prosperity and Singapore developers...