S'pore office prices and rentals will continue increasing
Singapore’s office market has been ranked among the top five in the “HOT” category in the Asia Pacific, according to a Money into Property report released by DTZ.
In an article published by Singapore Business Review, DTZ said the forecast for the commercial and industrial market in Singapore was based on a projected economic growth of between four and six percent.
“Singapore's commercial and industrial markets remain in the HOT category, similar to the Q4 2010 findings, as we expect continued price and rental increases based on the projected economic growth of 4-6 percent in 2011 and over the next few years,” said Chua Chor Hoon, Head of South East Asia Research at DTZ.
In an article published by Singapore Business Review, DTZ said the forecast for the commercial and industrial market in Singapore was based on a projected economic growth of between four and six percent.
“Singapore's commercial and industrial markets remain in the HOT category, similar to the Q4 2010 findings, as we expect continued price and rental increases based on the projected economic growth of 4-6 percent in 2011 and over the next few years,” said Chua Chor Hoon, Head of South East Asia Research at DTZ.
S'pore still hot for property investment
Singapore’s office, retail and industrial property markets were still “hot” prospects for investment in the first quarter, according to the latest Money into Property report released by DTZ.
“This is similar to the Q4 2010 findings, as we expect continued price and rental increases based on Singapore's projected economic growth in 2011 and over the next few years,” said Chua Chor Hoon, DTZ’s Senior Research Director for South East Asia.
“The Singapore office market is ranked among the top five in the 'hot' category among Asia-Pacific cities covered in this study. Capital values are expected to re-price at a faster rate in 2011 compared with 2010 with growing interest from institutional investors.”
“This is similar to the Q4 2010 findings, as we expect continued price and rental increases based on Singapore's projected economic growth in 2011 and over the next few years,” said Chua Chor Hoon, DTZ’s Senior Research Director for South East Asia.
“The Singapore office market is ranked among the top five in the 'hot' category among Asia-Pacific cities covered in this study. Capital values are expected to re-price at a faster rate in 2011 compared with 2010 with growing interest from institutional investors.”
Anson House sold for $148m to ING fund
(SINGAPORE) Anson House has been sold for $148 million or $1,916 per square foot of net lettable area to a property fund managed by ING Real Estate.
Anson House: Based on rents currently being paid by tenants, the net yield on the purchase is said to be about 3.8 per cent
Savills Singapore is understood to have brokered the sale through a private treaty deal.
The office block was sold by a private high net worth individual investor who picked up the property in 2009 for $85 million from a fund managed by Australia's Macquarie Bank. The latter had paid $129.5 million for the office block in 2007.
Anson House, a 13-storey building completed in 1999, has 103 carpark lots (on the second to fourth levels). The property is on a site with a remaining lease of about 85 years and has net lettable area (NLA) of about 77,244 square feet.
Anson House: Based on rents currently being paid by tenants, the net yield on the purchase is said to be about 3.8 per cent
Savills Singapore is understood to have brokered the sale through a private treaty deal.
The office block was sold by a private high net worth individual investor who picked up the property in 2009 for $85 million from a fund managed by Australia's Macquarie Bank. The latter had paid $129.5 million for the office block in 2007.
Anson House, a 13-storey building completed in 1999, has 103 carpark lots (on the second to fourth levels). The property is on a site with a remaining lease of about 85 years and has net lettable area (NLA) of about 77,244 square feet.
Singapore leads office rental growth in Q1
Singapore, along with China and India, has led the growth in office rentals and demand for office space in the Asia Pacific in the first quarter, according to CB Richard Ellis (CBRE).
The increasing pressure on prime rents across the Asia Pacific region continued its upward trend in the first quarter, as CBRE’s Asia Pacific Office Rent Index rose 3.0 percent, slightly lower than the 3.6 percent recorded in the previous quarter. Singapore and cities in Greater China led the growth, both in terms of expansionary demand and rental appreciation.
According to CBRE, the Singapore office market recorded a more measured start this year, as occupiers digested the significant expansion space taken up last year. Though average rents in prime office space continued to rebound, the pace of rental growth moderated to 3.6 percent quarter-on-quarter, from 12.2 percent in the previous quarter. Average monthly rents for prime office location stood at S$8.60 psf in the first quarter.
Completion forecast for 2012 has been lowered to 1.4 million sq ft from 2.1 million sq ft, as many developers rescheduled the launch of their new projects.
The increasing pressure on prime rents across the Asia Pacific region continued its upward trend in the first quarter, as CBRE’s Asia Pacific Office Rent Index rose 3.0 percent, slightly lower than the 3.6 percent recorded in the previous quarter. Singapore and cities in Greater China led the growth, both in terms of expansionary demand and rental appreciation.
According to CBRE, the Singapore office market recorded a more measured start this year, as occupiers digested the significant expansion space taken up last year. Though average rents in prime office space continued to rebound, the pace of rental growth moderated to 3.6 percent quarter-on-quarter, from 12.2 percent in the previous quarter. Average monthly rents for prime office location stood at S$8.60 psf in the first quarter.
Completion forecast for 2012 has been lowered to 1.4 million sq ft from 2.1 million sq ft, as many developers rescheduled the launch of their new projects.
Subscribe to:
Posts (Atom)