Commercial property rents, values seen falling further
Singapore
EVEN as tenant demand for commercial property has fallen at its fastest pace in Q1 this year since the depths of the financial crisis in 2009, the Royal Institution of Chartered Surveyors (RICS) is anticipating a further drop in capital values and rents over the coming year.
On the occupier market front, demand fell last quarter across all sectors even as available space continued to rise. About 64 per cent of surveyors expect rents to fall further over in the next quarter, and 65 per cent expect the downward trend to continue into next year. At the 12-month horizon, respondents expect rental values to fall by 5.8 per cent, with all sectors forecast to see a subs…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
DBS puts 46 retail units, HDB shops on market for S$210 million
US mortgage rates jump above 7% for the first time this year
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases