Singapore Real Estate
Is divestment of office assets on the cards for Alpha-CDL tie-up in ’18?
The earlier-than-anticipated recovery in Singapore office rents last year helped to fuel investment interest in office properties on the island. The string of office investment deals in 2017 included Asia Square Tower 2 in Marina View, PwC Building in Cross Street and Chevron House in Raffles Place. This flurry of activity has led some market observers to wonder if a portfolio of less high-profile office assets transacted a short while ago, might come onto the market this year.
Sluggish housing rentals may find footing in second half of 2018
Singapore’s housing rental market remained sluggish last month, but full-year rental declines in 2017 were more moderate than the year before. This confirmed the view of most analysts that notwithstanding the rental market’s continued languor, rents will gradually find their footing in the second half of this year. Rents of private non-landed homes slipped 0.3 per cent in December from a month ago, bringing the full-year decline to 0.5 per cent. HDB rents also marked a 0.6 per cent fall in December from November, bringing the full-year decline to 3.5 per cent.
Singapore property prices seen to rebound in 2018
Credit Suisse Group and Morgan Stanley are calling the end of Singapore’s property downturn, after a second consecutive quarterly increase in private residential prices. Home prices may rise as much as 10 per cent this year, according to analysts at Credit Suisse, while Morgan Stanley and OCBC Investment Research expect as much as an 8 per cent increase, according to reports from the brokerage firms.
S’pore tops Asean for 2018 property market growth forecasts
Singapore’s property market looks the most promising among a ranking of Asean markets. Morgan Stanley Research, which compiled the league table, is so bullish that it expects home prices here to rise 8 per cent this year and again in 2019, with demand outweighing a tight supply. It also expects higher sales of new homes as a buoyant collective sale market drives up demand while reducing the supply of units to buy.