Savills

Savills is one of the world's leading property advisors with 39,000 experts working across 600 offices in the Americas, Europe, Asia Pacific, Africa and the Middle East.

Analytics tool tells developers how much to sell units for

It can also determine the best price to bid for the land.

Commercial building on South Bridge Road sold for $13.58m

The building has a gross floor area of 1,042.31 square meters (sqm).

SG and Dubai seen to be top cities for prime capital growth: Savills

It was forecasted that Singapore’s growth will be between 6% to 7.9%.

‘Hub-and-spoke’ office model gains traction in APAC

Markets in the region except Australia are practising remote working.

Rising interest rates a major concern for property investors in 2023

Asking help from bank lenders will be challenging this year.

Multifamily properties to have strong, stable income potential: Savills

It presents investment opportunities amidst macroeconomic headwinds.

Savills brokers sale of $32.68m office units in Southpoint

The sale translates to $3,000 per square foot.

Large operators to dominate flexible office market

Workthere said smaller brands will likely be acquired by large operators as competition in the market intensifies.

Five Joo Chiat Road shophouses for sale at $62m

Four of the five ground floor units have restaurant approvals.

2023 investment sales likely to be similar to 2022 levels

Savills predicts investment sales to hit around $24b to $25b.

CBD Grade A office gross rents to grow 2% in 2023

If interest rates remain at pre-pandemic levels, rents will likely grow 11.1% YoY.

Cost pressures to raise retail sales revenue, advertising costs in 2023

Savills said the rents will move up for prime retail and suburban rents.

Limited supply of warehouse space post 2024 to pressure on rents

Rents for prime warehouse and logistics assets to go up 2% to 5% in 2023.

Ming Arcade sold for record S$172m: Savills

The buyer, Royal Group of Companies, plans to redevelop the site.   Family office Royal Group of Companies has purchased shopping mall Ming Arcade for S$172m via a public tender exercise which closed on 15 December, announced the sale’s exclusive marketing agent Savills Singapore.   The purchase set a new price benchmark in the Lion City, exceeding the previous price record of $2,910 per square foot per plot ratio that was set with the purchase of Park House by Hong Kong-listed Shun Tak Holdings in 2018.   Situated at a corner plot along Cuscaden Road, Ming Arcade is a 7-storey commercial complex with 3 basement levels and a total of 88 strata units. Royal Group of Companies plans to redevelop Ming Arcade.   The freehold 12,132 sq ft site is zoned commercial and has an existing gross floor area of 55,046 sq ft. This is equivalent to plot ratio of 4.54, and has a height control of up to 20-storeys.   Royal Group of Companies is a Singapore-based family office with investment in a wide array of asset classes ranging from hospitality, office towers & retail, residential, industrial, and conserved assets across the Asia Pacific region and beyond. Notable assets include the Sofitel Singapore Sentosa Resort & Spa and Singapore’s upcoming second Raffles Hotel in Sentosa. 

Baseline price of mass market condominium to exceed $2,000 psf in 2023

Overall, residential prices will increase by 7% next year.