Monthly Archives: April 2011

Rents for High-Tech Indusrtial Space up 3.1% in Q1

Posted on 15 Apr 2011 | Comments Off on Rents for High-Tech Indusrtial Space up 3.1% in Q1

Rents for high-tech industrial properties in Singapore grew at a faster rate in the first quarter, DTZ Research said yesterday.

The average rent for high-tech properties, which include business parks, rose 3.1 per cent quarter-on-quarter to S$3.30 per sq ft per month in the first three months of the year, following a 1.6-per-cent increase in the previous quarter.

Rents for conventional industrial space rose as well, with average monthly gross rent for upper-storey industrial space rising 3 per cent on quarter to S$1.70 per sq ft per month, after an increase of 3.1 per cent in the previous quarter.

However, the average rent was still 17.1 per cent below the S$2.05 per sq ft achieved during the peak in 2008.

Head of DTZ South-east Asia Research, Ms Chua Chor Hoon, said: “Rents for hi-tech industrial properties are found to be highly correlated to office rents, which have moved up by 7.5 per cent to 10 per cent outside the CBD in Q1 this year.”

DTZ adds that industrial rents are likely to continue to rise, because the annual average potential supply of 7.5 million sq ft between this year and 2013 is significantly lower than the historical 10-year average demand of 9.3 million sq ft.

Source : Today – 15 Apr 2011

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Posted in Office / Retail / Industrial

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Private Home Sales rebound after 4-month low

Posted on 15 Apr 2011 | Comments Off on Private Home Sales rebound after 4-month low

Sales of private residential properties increased in March, bucking four consecutive months of decline.

Data released on Friday by the Urban Redevelopment Authority (URA) showed that 1,386 private homes were sold last month, up 25 percent on-month from the 1,105 units sold in February.

Including executive condominiums, the total sales would have reached an even more impressive figure of 1,543.

The suburban region saw the most sales, with about 631 units sold while 492 units were sold in the city fringe areas.
The central region saw the least sales, with 263 units sold.

H2O Residences in Sengkang was the most popular development in March, with 255 units sold.

Meanwhile Scotts Square in the city region fetched the highest price tag for a unit, at S$4,334 per square foot.

It was followed in a close second by Boulevard Vue, the only other apartment to cross the S$4,300 mark in March.

Executive condo The Canopy sold the cheapest unit, at S$530 per square foot.

Source : Channel News Asia – 15 Apr 2011

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Posted in Property Market / Real Estate

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