Category Archives: Office / Retail / Industrial

Singapore returns to most expensive office list

Posted on 15 Apr 2011 | Comments Off on Singapore returns to most expensive office list

Singapore has resumed its place in the top ten most expensive office locations in the world according to a report published by Colliers International this week.

Singapore is ranked in ninth place now, up from 15th place just six months ago – a clear indication if one was needed that commercial property prices are continuing to rise in the city state.

The Global Office Real Estate Review noted that Grade A office rents in the Singapore’s central business district continued to trend upwards, with rental growth momentum picking up pace and recording a 16.8 per cent second half from the previous six month period. Singapore registered an occupancy cost of S$7.91 per square foot per month at the end of last year for Grade A CBD office space.

Hong Kong, London’s West End, Tokyo, Paris, London’s City Centre, Rio de Janeiro, Sao Paulo, London’s Southbank and Geneva complete the ranking of the 10 most expensive office locations in the world.

Hoh Chi Minh City in Vietnam is the only other South East Asian city to appear in the top 20 – coming in as the 20th most expensive office location in the world.

Source : Property Report – 15 Apr 2011

Comments Off on Singapore returns to most expensive office list

Posted in Office / Retail / Industrial

Tagged , , , , , , , , , , , , ,

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

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

Posted in Office / Retail / Industrial

Tagged , , ,