Monthly Archives: August 2009

Steepest fall in office occupancy cost here

Posted on 4 Aug 2009 | Comments Off on Steepest fall in office occupancy cost here

Some firms may expand as rents fall and the economy stabilises

A plunge in Grade A office rents has raised Singapore’s competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year – down a notch from a quarter ago.

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

Colliers noted that monthly gross rents for Grade A offices in Singapore’s central business district (CBD) posted the sharpest fall in Q2, compared with other major cities in the region. Rents slid 26.2 per cent quarter-on-quarter, averaging at $6.73 psf per month in Q2. Continue reading →

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Posted in Office / Retail / Industrial

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Land prices in Singapore down by 50% since 2007, analysts say

Posted on 4 Aug 2009 | Comments Off on Land prices in Singapore down by 50% since 2007, analysts say

Land prices in Singapore have slumped by up to 50 per cent since the property boom in 2007, according to market watchers. Weaker prices, coupled with recent strong demand for homes, could lure developers to replenish their land bank.

As home buyers have been flocking to project launches over the past few months, analysts said developers are showing more interest in good residential sites.

More than 7,200 new homes were sold in the first half of this year, far exceeding the over 4,200 units sold in 2008.

Last month, the government released two sites from its reserve list, under the Land Sales Programme, after receiving applications with minimum bids.

Among them was a plot at Dakota Crescent, which attracted a bid of at least S$130 million. It will be put up for public tender soon. Continue reading →

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Posted in Landed Property, Property Price

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