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Residential leasing Singapore Q3 2013

Report

Reihe: Savills Briefing

Anbieter: Savills

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  • Erscheinungsweise: Quartalsweise
  • Berichtszeitraum: 3. Quartal 2013
  • Erscheinungsdatum : 30.11.2013
  • Seiten : 3 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 886,10 kB
  • Sprache(n) : Englisch

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Inhalt

  • Singapore's economy remained firm in the third quarter, recording a 5.1% year-on-year (YoY) growth on top of a tighter job market.
  • The Fair Consideration Framework (FCF), which will take effect from 1 August 2014, introduced by the Ministry of Manpower in September will affect the number of overseas professionals working in Singapore.
  • Private residential leasing volumes surged to 15,083 cases in Q3, or an 11.6% quarter-on-quarter (QoQ) growth, leading to a total of 40,319 leases inked in the first three quarters, marking a 6.0% YoY jump.
  • The island-wide vacancy rate climbed to 6.1%, reflecting a total of 17,459 vacant private residential units at the end of Q3.
  • The average monthly rent of highend condominiums tracked by Savills remained flat at S$4.86 per sq ft.
  • Supported by the improving economies across the globe and a healthy job market in Singapore, the residential leasing market is expected to remain resilient with rents holding up until the end of the year. However, the rental market is gradually turning to favour tenants due to tighter overseas hiring and immigration policies, and the steady supply of new housing stock in the pipeline.

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