Non-Landed Private Rents decrease by 0.3%, HDB Rents decrease by 0.5% in November 2017

Source: SRX property

(Source: SRX Property. Dec 13, 2017) Private non-landed home rentals declined by 0.3% from October 2017 to November 2017. Year-on-year, rentals declined by 1.2% from November 2016 to November 2017.

 In the HDB rental market, rentals fell by 0.5% from October 2017 to November 2017. Year-on-year, rentals decreased by 2.9% from November 2016 to November 2016.

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Investors look again at office property

Facade_Asia Square 2

(Source: The Straits Times, 9 June 2016) BlackRock sold Asia Square Tower 1 to the Qatar Investment Authority for $3.4 billion ($2,720 psf) on Monday, while Indonesian tycoon Dr Tahir offered to buy the Straits Trading Building for $560 million, or a record $3,520 psf, last week. These two big deals occurred in the span of a week have suddenly perked up interest in the lacklustre office property market. Prominent assets like the One George Street building, Wilkie Edge near Selegie Road, Tower 15 at Hoe Chiang Road and the former SIA Building at 77 Robinson Road are just some properties said to be up for sale. Although investor interest for prime assets may rise due to the recent deals, some market watchers believe it is unlikely to cause a big revival in sales, due to the declining office rents.

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Shunfu Ville sold for S$638m to Qingjian

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(Source: The Business Times, 20 May 2016) Shunfu Ville was sold to developer Qingjian Realty for S$638 million on Thursday, marking the largest collective sale since 2007. This translates to a total land cost of S$747 per square foot per plot ratio on potential gross floor area, after factoring in the upgrading premium to top up the lease to a fresh 99-year lease. The sale price is S$50 million lower than the reserve price of S$688 million for the past two attempts. (more…)

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