Residential

Rent for private housing slips while rents for HDB stagnate

Rents of private non-landed homes dipped 0.6 per cent in May while that for HDB flats stagnated compared to last month, according to SRX Property. Savills Singapore research head Alan Cheong noted that this trend of stabilising prices and falling rents is expected to continue amid the liquidity surplus and the volatile economy. Rental volume rose 5.8 per cent month on month for private non-landed homes compared to May 2016. Similarly, HDB rental volumes inched up 1.5 per cent from April.

(Source: Business Times)

Wing Tai sells another apartment at Le Nouvel Ardmore

The seventh floor unit at Le Nouvel Ardmore is being sold for S$21 million, which works out to S$4,006 per square foot based on the strata area of 5,242 sq ft. The buyer is believed to be Trihatma Kusuma Haliman, who controls Indonesian property group Agung Podomoro Land. The property group has been allegedly involved in a bribery case and is currently under investigation by Indonesia’s anti-graft agency, the Corruption Eradication Commission (KPK).

(Source: Business Times)

CCR resale price rise due to projects with new payment schemes

SRX Property’s resale price sub-index for non-landed private homes in Core Central Region (CCR) in May 2016 was up 4.7 per cent from a year ago. The sub-index for the city fringe or Rest of Central Region (RCR) inched up 0.6 per cent while the sub-index for the suburbs or Outside Central Region (OCR) contracted 2.0 per cent. The volume of monthly resale deals in CCR has risen steadily since the start of 2016. OrangeTee’s senior manager for research and consultancy, Wong Xian Yang, said CCR resale volumes were uplifted in May partly due to developer sales at OUE Twin Peaks in the Grange Road/Leonie Hill Road area on the back of the introduction of two new payment schemes.

(Source: Business Times)

Commercial

Singapore is now 20th on the prime office cost list

In its biannual Global Prime Office Occupancy Costs survey of 126 markets, CBRE reported that the Asia-Pacific region had seven cities in the top 10 list of office markets based on occupancy costs in the first quarter of this year. Occupancy costs comprise rent, local taxes and service charges. Singapore fell 4 spots and was ranked as the 20th most expensive city in the world. The prime occupancy costs were down 13.8 per cent from the same period a year ago at US$94.47 psf per annum. Chestertons managing director Donald Han opines that prime office occupancy costs in Singapore would fall by a further 10-15 per cent in the next 18 months.

(Source: Business Times)

Join Our Weekly Newsletter

“What you must know before buying Singapore property…”

Sign up to get our free weekly newsletter with the best ideas and market updates from Singapore property experts, property transaction data and deals. Enter your email below to get our FREE Beginner's Guide and Property Buyer’s Checklist as a bonus. Save yourself thousands of dollars and lots of heartache!

Thanks for signing up! Please check your email to download your reports.