Month: August 2022

As per the recent reports from Singapore commercial real estate market, the country is experiencing the best ever returns from recent quarter sales. Just within the previous three months, the deal volume increased by 74% while touching the maximum value of $7.72 billion. This is a great record for the single quarter when institutional investors made a grand entry into the market.

 

MSCU stated that the previous drop was caused by the sharp decay in individual property trades that turned out to be somewhere around the US $33.1 billion. Whereas the average for the year 2021 was reported to be the US $40 billion per quarter. They also revealed that Singapore turned out to be a star during second-quarter sales in the Asia Pacific region. The majority of sales happened in apartments, hotels, industrial, retail, office, and senior housing properties. The Singapore property demands were very high where Central Business District offices attracted the majority of investments; however, hotels and shopping centers performed really well.

 

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Rental prices of private apartments and housing board flats increased by a considerable level in the previous month. Property analysts state that the trend is expected to continue for a longer time ahead because completed housing projects are not enough to serve market demands.

HDB rents in the month of July climbed at a low pace of 1.5%; however, it was only 2.3% in the month of June. Presently, rents for both non-mature and mature real estate markets are rising. Condominium rents in the area rose by 1.7% in the previous month, which is 2.1% higher when compared to the previous month. This scenario reports straight growth of 19th month for condo rents with 25th concerning HDB rents, which appears longest ever streak for both these markets in Singapore.

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As the new launch condos were introduced into the market during the school holidays of June month, it is also leading to increased interest rates in the future. Around 488 residential units, without including executive condominiums, were sold during the month of June and this count is much less compared to 1355 units sold in the previous month. The reports state that it was the lowest sale record since May 2020 when showrooms were affected by a circuit breaker.

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