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DTZ expects office rentals to return to positive growth in 2010

Posted on 15 Oct 2009 | Comments Off

Property consultancy DTZ has upgraded its outlook for the office property sector.

It now expects office rentals to return to positive growth next year as the improving economic outlook feeds through.

But it said the outlook for 2009 remains firmly negative.

Year to date, office rentals throughout Asia Pacific have fallen by an average of over 10 per cent.

DTZ said the latest quarter on quarter growth was down around 2.5 per cent.

It expects the end of this year to be the bottom of the market as most cities are expecting to see yields stabilise in 2010.

The property consultancy said it doesn’t expect to see significant growth in Singapore’s office sector until 2011.

But it said growth may occur earlier if the positive sentiment amongst domestic and multinational occupiers persists.

Source : Channel NewsAsia – 15 Oct 2009

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Posted in Office / Retail / Industrial

Tagged Office Rental, Office Space, Singapore Office

Retail sales down 5.2% on year in Aug, led by motor vehicles and petrol prices

Posted on 15 Oct 2009 | Comments Off

Singapore’s retail sales fell by 5.2 per cent in August compared to the same period last year.

Compared to August 2008, turnover of motor vehicles dropped by 11.6 per cent and sales at petrol service stations dropped by almost 14 per cent, due partially to lower petrol prices.

After adjusting for price changes, the volume of petrol sales declined by seven per cent over a year ago.

However, on a month-on-month basis, retail sales rose by 5.2 per cent in August compared to July, mainly due to a 13 per cent jump in the sale of motor vehicles.

Sales of telecommunications apparatus, computers, watches and jewellery declined between 10 and 14.7 per cent in August compared to the year before.

Sales of optical goods, books and food and beverages also fell, by about six per cent on year. Continue reading →