Friday, July 1, 2011
Resale prices of private homes continue to rise
Resale prices of private homes continue to rise
By Mustafa Shafawi | Posted: 28 June 2011 1417 hrs
SINGAPORE: Resale prices of private homes continue to rise in the second quarter of this year.
According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first.
It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8 per cent in the first quarter.
The average resale price of freehold condominiums in the prime districts of 9, 10 and 11 grew by 3.3 per cent on-quarter compared to 0.4 per cent in the first quarter, based on a basket of completed condominiums tracked by DTZ Research.
The average resale price of luxury condominiums rose the least at 1.7 per cent.
But DTZ Research said it reflected an increase over the flat prices registered in the first quarter.
This it said is the only segment with prices still below the 2007 peak.
Ms Chua Chor Hoon, head of DTZ South East Asia Research, said prices continue to trend upwards because sellers are benchmarking against the prices of new launches.
DTZ foresees the pace of price increases across all segments to moderate for the rest of the year.
- CNA/fa
- wong chee tat :)
By Mustafa Shafawi | Posted: 28 June 2011 1417 hrs
SINGAPORE: Resale prices of private homes continue to rise in the second quarter of this year.
According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first.
It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8 per cent in the first quarter.
The average resale price of freehold condominiums in the prime districts of 9, 10 and 11 grew by 3.3 per cent on-quarter compared to 0.4 per cent in the first quarter, based on a basket of completed condominiums tracked by DTZ Research.
The average resale price of luxury condominiums rose the least at 1.7 per cent.
But DTZ Research said it reflected an increase over the flat prices registered in the first quarter.
This it said is the only segment with prices still below the 2007 peak.
Ms Chua Chor Hoon, head of DTZ South East Asia Research, said prices continue to trend upwards because sellers are benchmarking against the prices of new launches.
DTZ foresees the pace of price increases across all segments to moderate for the rest of the year.
- CNA/fa
- wong chee tat :)
Office rents maintain single-digit growth in Q2
Office rents maintain single-digit growth in Q2
By Julie Quek | Posted: 28 June 2011 1445 hrs
SINGAPORE: Singapore's office property market appeared to have averted an overheating situation, with office rents in the second quarter this year maintaining at single-digit growth.
According to the latest quarterly office property market research report by Colliers International, this comes amid the continued easing of occupancy rate.
Average monthly gross rents of Grade A office space in Singapore recorded the third consecutive quarter of moderation in quarter-on-quarter growth at six per cent.
In particular, average monthly gross rents of Grade A office space in the Raffles Place and New Downtown micro-market grew by seven per cent to reach S$10.40 per square foot per month.
This is slightly less than the eight per cent gain recorded in the first quarter this year.
Colliers said the current office market is experiencing a rising supply of space stemmed from the gradual completion of new office developments.
In addition, the widening gap in rental expectations, as a result of landlords continuing to raise asking rents to leverage the up-cycle in the office property market, has started to meet with some resistance from tenants.
This trend has in turn contributed to a moderation in the leasing exuberance.
Looking forward, Colliers said the office sector would continue to be supported by drivers such as the banking and professional services sectors, where corporate hirings are likely to remain on the growth trajectory, due to Singapore's established infrastructure and strategic location near emerging markets.
- CNA/fa
- wong chee tat :)
By Julie Quek | Posted: 28 June 2011 1445 hrs
SINGAPORE: Singapore's office property market appeared to have averted an overheating situation, with office rents in the second quarter this year maintaining at single-digit growth.
According to the latest quarterly office property market research report by Colliers International, this comes amid the continued easing of occupancy rate.
Average monthly gross rents of Grade A office space in Singapore recorded the third consecutive quarter of moderation in quarter-on-quarter growth at six per cent.
In particular, average monthly gross rents of Grade A office space in the Raffles Place and New Downtown micro-market grew by seven per cent to reach S$10.40 per square foot per month.
This is slightly less than the eight per cent gain recorded in the first quarter this year.
Colliers said the current office market is experiencing a rising supply of space stemmed from the gradual completion of new office developments.
In addition, the widening gap in rental expectations, as a result of landlords continuing to raise asking rents to leverage the up-cycle in the office property market, has started to meet with some resistance from tenants.
This trend has in turn contributed to a moderation in the leasing exuberance.
Looking forward, Colliers said the office sector would continue to be supported by drivers such as the banking and professional services sectors, where corporate hirings are likely to remain on the growth trajectory, due to Singapore's established infrastructure and strategic location near emerging markets.
- CNA/fa
- wong chee tat :)
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