Savills

The increase in vacancy stocks was attributed to a large number of completions.

An expert from Savills said the market has become increasingly international in its outlook. 

Women took the lead in this year's list, taking 11 spots.

The two can be sold individually or collectively.

There is a scarcity of supply for wealthy expatriates.    For the third consecutive quarter, Savills said the leasing volume of private residential assets dropped by 8.7% to 20,751 transactions in the second quarter this year.   Savills said the leasing volume in the core central region (CCR) went down because of lack of accommodation for rich foreigners.   “Consequently, without their preferred  accommodation, some have rescheduled  their relocation here or temporarily living  in serviced apartments/hotels while their  families are waiting overseas,” said Savills in its 2022 report.   This trend is still happening in the third quarter of 2022, Savills also said.   “From the top down, this has a pneumatic effect on forcing up rents across the rental chain. However, stocks are also limited in  those regions, but not in such short supply as those in the luxury range,” the property expert said.  

In Q2, rents rose to $4.79 psf.

It sees retail rents in Prime Orchard up by 3% year-on-year.

It will be sold through an Expression of Interest exercise.   52 Boat Quay, a rare six-storey CBD shophouse located in the Boat Quay district, was launched for sale with a guide price of $45 million.    Its marketing agent, Savills, said the sale will be conducted via an expression of interest (EOI) exercise closing on 7 October, at 3 p.m.   According to Savills, 52 Boat Quay is the tallest of all the conservation shophouses situated along the Singapore River. Surrounding the property are office buildings like CapitaSpring, UOB Plaza1 and 2, One George Street, OCBC Centre and One Raffles Place.

Of the upcoming supply, 392,000 sq feet will be completed in the second half of 2022.

A study showed that Singaporean’s salaries will increase 3.5% in 2022.

However, this was still lower than the launches in same period in 2021.

The property is located at Hoa Nam Building.

It ended the seven consecutive quarters of increase since 2020.

Tender closes on 13 September at 3PM.

The launch event is from 13 to 14 August.

Net demand for offices amounted to 136,00 square feet.