04 | August | 2009 | Lush Dream Home

PLUNGING rents in the second quarter have seen Singapore slip from being the region’s third most expensive city for office space to fourth place.

Office rents fell 26.2 per cent from the first quarter, according to Colliers International’s new Asia Pacific Office Market Overview.

It was the biggest decline in the region, with Hong Kong next, with a fall of 10.3 per cent.

Tokyo is the priciest, with Hong Kong and Ho Chi Minh City second and third, respectively.

The survey assesses monthly gross rents for Grade A offices in central business districts of 26 cities in the Asia-Pacific region. Continue reading →

Optima @ Tanah Merah: Sold out in 3 days

Posted on 4 Aug 2009 | Comments Off

SINGAPORE may still be mired in recession, but tell that to the home hunters who are flocking to the latest launches.

In the east, a new 297-unit condominium development on the doorstep of Tanah Merah MRT station completely sold out in the three days that followed its preview last Thursday.

Units at Optima went for an average price of around $810 per sq ft, or from $470,000 to $2.06million per unit.

Demand remained strong even after developer TID – a joint venture between Hong Leong Group and Mitsui Fudosan – raised prices by 5per cent, from $790 psf on Thursday to $830 psf by Friday. Continue reading →