(Source: The Straits Times, 22 July 2016) A tenant’s market is still prevalant amidst falling office and retail rents, driven by a weak market sentiment an an overabundance in supply of space. (more…)
(Source: The Business Times, 9 June 2016) Land for private housing including executive condominiums (ECs) that will be offered by the government in the second half of the year is slightly more than in the first half. This is mainly due to a 39.1% rise in the confirmed list supply to 2,170 homes (no ECs), from 1,560 (635 ECs) in H1. In the reserve list, the government is offering land for 5,375 homes (780 ECs), 8.2% drop from 5,855 (820 ECs) in H1. In total, the government will be supplying land for 7,545 homes in the second half of 2016, up just 1.8% from 7,415 in H1 2016. (more…)
(Source: Myanmar Business Today, 29 March 2016) Despite the recent surge in office space in Yangon, the low occupancy rates are set to rise with expected incoming foreign investment after the new government settles into parliament, according to Colliers’ recent report. It also expects the occupancy and rentals of the retail and serviced apartments sectors to increase in the near future. However, it expects a decline in the high-end hotel construction, occupancy rates and the average daily rate. The selling price and take-up rates of residential condominiums are expected to stay flat. (more…)
(Source: The Business Times, 3 Mar 2016) According to Collier’s report, the average monthly gross rent of ground-floor shop space on Orchard Road dropped 1.2% quarter-on-quarter to S$34.40 per square foot in Q4 2015, marks the seventh consecutive quarter of decline. On the other hand, the average monthly gross rent of gross floor space in the regional centres remains at S$33.94 per square foot. In terms of capital value, the imputed average capital value of Orchard Road retail space dropped 4% in Q4 2015 to S$6,667 per square foot as compared to that in Q4 2014, while that of prime retail space in regional centres remain unchanged at S$4,491 per square foot. Colliers expects prime retail rents to drop up to 3% in 2016, while prime rents in regional centres remain resilient.