Thursday, November 20, 2008

S'pore Is 4th Best Place To Invest In: Poll

Source : The Straits Times, Nov 20, 2008

Republic pips rival HK in KPMG's survey of 260 leading global firms

THE global economy may be slowing, but Singapore has been rated as one of the top four places in the world to invest in during these turbulent times.

A survey by accounting giant KPMG of 260 leading global companies, conducted in September and October across 12 economies, has placed Singapore behind mainland China, the United States and India next year as well as in five years' time.

The Republic edged out Hong Kong, a long-standing rival for investments.

Among the key factors attracting prospective investors to Singapore are the political stability, the impartial rule of law, a friendly tax regime as well as access to new customers.

Mr Owi Kek Hean, KPMG's head of tax services in Singapore, said: 'We wanted to compare and contrast what businesses would like to see from the countries when deciding where to locate their operations.'

This is the first survey by KPMG on the importance of tax and demographics in influencing corporate decisions on location. It also tracked investment intentions of firms over the next five years.

The survey included responses from 20 multinational corporations based in Singapore, each with a turnover of US$1 billion (S$1.5 billion).

Mr Phillip Overmyer, the chief executive of the Singapore International Chamber of Commerce, said of the results: 'That people are saying this is not earth-shattering, but the importance is in the timing of it.'

He said what is important is that MNCs indicated their intention to invest in the middle of the financial crisis, over the next few years, and also the places they are most inclined to invest in.

'It confirms that people think Asia is the market of the future, that it will recover very early and it reinforces very strongly that Singapore will play a critical role in this development in Asia as the crisis starts to resolve itself.'

Mr Overmyer said that compared to the three top-rated nations in the survey, Singapore's standing at No.4 is impressive, given the Republic is not a large market in itself but because of its 'tremendous capability to support activities on a wide regional basis of MNCs in Asia'.

Mr Owi, who was speaking to The Straits Times on the sidelines of KPMG's Asia-Pacific Tax Summit at the Ritz-Carlton, Millenia Singapore, said the survey reinforced a few things about what companies want.

'Businesses would like to see more tax incentives from the government and they also want the government to attract more foreign talent to these shores.'

He said that this is no surprise as Singapore moves from a manufacturing-based economy to a high value-added service- based economy that needs more and more skilled workers.

He added that compared to Hong Kong, Singapore's headline corporate tax rate is higher, but because the government has targeted tax incentives for various sectors, the effective corporate tax rate for a company could actually be lower than Hong Kong's.

The survey found that 70 per cent of respondents said the tax regime is an important factor in choosing where to locate their business. Also, half of all respondents indicated that the tax policy of a country is more important than an educated workforce in deciding where to locate their business operations.

The survey also found that 65 per cent of respondents here look to the government to work with them to attract foreign talent. This is unlike in Europe, where companies feel attracting foreign talent is their own responsibility.

Mr Owi said: 'This shows that the expectation here is for a partnership between the government and companies to bring in foreign talent.'

Bayer Schering Pharma's Asia-Pacific regional head Chris Lee said: 'Lower taxes and immigration barriers are only part of a number of factors that make people decide on one place or another.'

He added: 'Many cities are vying now for talent and offering attractive incentives, so it is important for Singapore to distinguish itself.'

S'pore Ranked 16th Most Expensive Shopping Location In The World

Source : Channel NewsAsia, 19 November 2008

Surveys showed that Singapore is the world's 16th most expensive shopping location, with prime retail space along Orchard Road going for US$405 per square foot.

This is two places lower than 2007 largely due to escalating rental rates in other global markets.

In Asia, Singapore's retail rentals ranked 4th, with Hong Kong retaining its position as the region's priciest shopping destination.

Property consultancy Cushman & Wakefield said retail rents rose as a result of sustained interest from international retailers.

It said there is also positive spillover effects from new tourist attractions and events in Singapore. These include the opening of the Singapore Flyer observation wheel, the Formula One Grand Prix street race and the upcoming integrated resorts.

However, market watchers said the weakening economic environment has started to affect retail rentals towards the fourth quarter of 2008. Still, they expect the sector to hold up in the medium term, backed by the influx of new malls along Orchard Road.

Commercial real estate services firm, CB Richard Ellis (CBRE), said despite deteriorating economic conditions, the retail sector has performed relatively well to date.

It added that half of the markets surveyed saw rental growth in the first three quarters of the year, with 65 per cent of them seeing increases over the last six months.

Looking ahead, it said the slowdown in consumer demand could drive down the rates as landlords become more open to rental negotiations.

CBRE added that retailers who are able to differentiate themselves, either based on price or product, will be more likely to weather the tough times. - CNA/vm

Retail Rents: S'pore Keeps 4th Spot In Asia

Source : The Straits Times, Nov 20, 2008

SINGAPORE is still the fourth most expensive centre for retail rents in Asia, though its global ranking has slid a couple of notches given faster rises elsewhere, a new survey has found.

The Republic fell to 16th position globally from 14th last year, according to the survey by consultancy Cushman & Wakefield.

Rents in Orchard Road, Singapore's premier shopping belt, rose 9.3 per cent in the year ended June 30 from $42 per sq ft per month to $45.90.

But because of US dollar movements, that is reflected in the survey as a 25 per cent jump from US$325 psf per year to US$405.

CB Richard Ellis put out a similar report yesterday, which placed Singapore in 22nd spot in the world's fastest growing destinations for retail rents.

The market today, however, is changing fast in the light of the global financial crisis. Singapore is seeing lower tourist arrivals. Retail sales, excluding motor vehicles, have started to dip.

A number of factors will determine the rate of rental changes for the rest of the year and next year, said Ms Letty Lee, director of retail services at CBRE.

'The full impact of the financial meltdown on the job market is still unknown. Meanwhile, consumers will remain cautious and may cut spending as a result,' she said. 'The financial turmoil will also impact tourism arrivals, which will affect consumer spending. Landlords may be pressured to reduce rentals as a result.'

Still, Cushman & Wakefield's managing director Donald Han believes that Orchard Road prime rents will be flat next year despite new supply as it is still the first stop for new brands here.

But suburban malls will see a softening of rents, he said.

'While the weakening economic environment has started to pass through to retail rentals towards the fourth quarter, we believe that the rentals would remain well supported in the medium term by the comparatively undershopped characteristic of the Singapore market,' said the Cushman & Wakefield report.

Two Sites Up For Sale Amid Weak Market

Source : The Straits Times, Nov 20, 2008

THE Urban Redevelopment Authority (URA) is testing the waters by offering two 99-year leasehold sites - one residential and one commercial-residential - for sale.

The sites have been placed on the reserve list, meaning they will be tendered out only if developers indicate sufficient interest.

However, property consultants doubt they will attract much, if any, interest from developers, given the weak market.

Earlier this week, monthly URA data showed that developers managed to sell just 112 units last month, a level comparable to the Sars period in 2003. It also showed that about 50 home buyers did not complete deals last month.

The first site, at Dakota Crescent, is for a residential project with a gross floor area of 647,599 sq ft. It is near the future Singapore Sports Hub and upcoming Dakota MRT station.

The second, at Seletar Road, is for a mixed commercial and residential development with a gross floor area of 226,042 sq ft. It is in a residential area at Seletar Hills near the future Seletar Aerospace Park.

Early this month, the Government cancelled two of three tenders of confirmed sites for the rest of the year. A tender for an executive condo in Punggol went ahead, but this site attracted no bids. With the market hit by the global financial crisis, developers are taking a breather from land banking, said a consultant.

'The current cautious mood and slow sale activity in the residential market have diminished developers' appetite for development sites,' said Mr Nicholas Mak, Knight Frank's director of research and consultancy.

He said the chances of developers expressing interest to trigger the launch of Dakota Crescent are slim, despite its good location.

He estimates the launch price for a proposed development with up to 550 units at Dakota Crescent at $650 to $680 per sq ft (psf), or a land price of roughly between $170 and $220 psf per plot ratio. The Seletar plot, he said, is estimated at $120 to $150 psf per plot ratio. A condo there could fetch prices of $530 to $570 psf if launched next year and beyond, said Mr Mak.

No Way Can Asia Escape The Financial Fallout

Source : The Business Times, November 20, 2008

Effective policy response critical both within the region and also for the global economy

THE global financial turmoil has intensified in recent weeks, and the world economy is entering a deep and protracted slowdown. Despite bold actions in the United States and Europe to tackle the crisis, credit is likely to remain constrained for some time, as financial institutions continue to reduce leverage, while growth in industrial countries is expected to be negative next year. What does this mean for Asia? And what can be done to limit the impact on the region?

Fewer buyers: Chinese workers performing a quality check last month on newly made toys at the production line of a toy factory in the suburbs of Shanghai. Weak global growth will depress demand for Asia's exports; indeed, a significant export slowdown is already underway.

Despite Emerging Asia's strong fundamentals - notably its substantial cushion in official reserves and robust corporate and banking sector balance sheets (and limited exposure to US sub-prime mortgages and structured credit products) - any hope that the region would escape the crisis largely unscathed has evaporated. Weak global growth will depress demand for Asia's exports; indeed, a significant export slowdown is already underway. And the global financial turmoil is making itself felt strongly in the region, including through much tighter funding conditions, more volatile capital flows, sharply depressed equity prices, weakening currencies, and higher sovereign and bank spreads.

Looking ahead, slowing domestic economies (and, in some cases, cooling housing markets) will likely increase pressure on corporates, contributing to a rise in bad loans and credit costs for banks, and risking an adverse cycle of a tightening of credit conditions and deteriorating economic growth.

The International Monetary Fund's (IMF) Asia and Pacific Regional Economic Outlook, forthcoming early next week (see, projects a significant slowdown across the region, with growth falling well below trend in almost all countries. While emerging Asia is expected to escape the sort of full-fledged recession now expected for the US, EU and Japan, risks - notably from the global environment - are large and clearly to the downside.

Policymakers in the region have responded to the worsening economic environment with a range of measures. Several governments have broadened or increased guarantees on bank deposits or other liabilities, while central banks have taken steps to provide both domestic and foreign currency liquidity on an emergency basis. The focus of monetary policy in the region has been shifted decisively to supporting growth, and a number of fiscal stimulus packages have been adopted or announced.

These efforts should all help limit the damage to the region, but going forward, more will need to be done, at both the global and national levels. At last weekend's G-20 Summit in Washington, Asian countries played a key role - in line with their growing economic power - in developing an international roadmap for containing the current crisis and avoiding future ones. And national policies will play a critical role in protecting core financial institutions and softening the economic slowdown.

First, Asian policymakers need to continue to focus on ensuring financial stability and the functioning of credit markets. Despite the financial stresses, conventional bank lending in the region has held up reasonably well so far and policymakers need to stand ready to minimise the tightening of overall credit conditions and its spillovers to the economy. Monetary authorities will need to continue to supply their banking systems with adequate domestic and foreign exchange liquidity; develop contingency plans to extend guarantees and recapitalise banks, if necessary; and consider steps to support trade credit, should serious difficulties emerge. In all this, transparency and communication will be key, to allow both citizens and global investors to understand what is being done and why.

Second, monetary policy in almost all countries in the region should maintain an accommodative bias. With weakening domestic demand and lower commodity prices contributing to sharply reduced inflation risks, monetary policy should now be aimed squarely at supporting growth. However, with inflation rates still above target in some countries, communication by central banks regarding the economic outlook and the expected path of inflation will play a key role in anchoring expectations.

Fiscal stimulus

Third, fiscal policy can play a key role. Given the progress with fiscal consolidation in the region, most countries have room to use fiscal policy to support growth, albeit to varying degrees. While the best approach will vary across countries, fiscal stimulus is most effective when it is timely, temporary, and targeted to purposes providing the biggest 'bang for the buck'. Infrastructure spending can be part of the mix, provided that projects are high quality and can begin to be implemented quickly.

Fourth, intervention in the foreign exchange markets should be limited. A number of regional currencies have weakened sharply since September. While some intervention may be warranted to smooth excess exchange rate volatility and to address possible overshooting, sustained one-sided intervention may backfire, resulting in larger and more disruptive adjustments later. Moreover, given the potential need for further foreign exchange liquidity provision in some countries, international reserves should be marshalled for their most critical purposes.

Finally, despite Asia's generally strong fundamentals and appropriate policy response so far, it cannot be ruled out, especially if the global financial crisis intensifies, that some Asian economies could experience liquidity difficulties. The international community needs to stand ready to provide large-scale and rapid financial assistance in those circumstances.

The IMF is ready to do just that, and has already moved quickly to help emerging market countries in other regions. Last month, the Fund introduced a new short-term liquidity facility for countries with sound policies but which are facing short-term balance of payments pressures, and is moving to increase the pool of resources available to it. Moreover, substantial foreign exchange swaps are already available to Asean+3 countries under the Chiang Mai Initiative, and there have been discussions to increase these amounts and step up regional policy coordination more broadly.

So, while the period ahead will undoubtedly be a difficult one, Asia's strong fundamentals, coupled with a focused and proactive policy stance should limit the damage. Given Asia's role in recent years as a global engine of growth - the region contributed more than half of global growth in recent years - an effective policy response will be critical both within the region and for the global economy.

The writer is director of Asia and Pacific Department of the International Monetary Fund

Marina Bay Sands To Help MICE Industry's Growth

Source : The Business Times, November 20, 2008

DESPITE the gloomy economic climate, Marina Bay Sands will help spur the local MICE industry and intends to work with Singapore's tourism players to achieve this growth.

Ideal location: Singapore's geographic location and the large number of companies based here stand the island in good stead to host more corporate meetings

'While there is some belt-tightening, many exhibitors will still attend trade shows. I am confident we will widen the portfolio of trade shows here,' says Wolfram Diener, vice-president of conventions and exhibitions for Marina Bay Sands. Operations in Macau can act as a springboard to bring new trade shows to Singapore, he reckons.

Mr Diener says the Marina Bay Sands MICE facilities are on target to open at end-2009, but the company will forego major MICE events until the first quarter of 2010 to allow sufficient time to be 'ready to deliver service excellence'.

He believes Singapore's geographic location and the large number of companies based here stand the island in good stead to host more corporate meetings.

Additionally, trade shows and corporate meetings may encourage business travellers to return as leisure travellers, he feels.

However, he acknowledges that the corporate meetings segment is likely to soften in the short term, especially as clients such as those in the financial services look to cut costs in trying times.

While corporate meetings are unlikely to come to a standstill, since they serve as both an incentive and a source of education for staff, Mr Diener thinks companies will instead shorten the duration of meetings and shave spending on them about some 20 per cent.

As costs in Singapore are higher than elsewhere in the region, the island has to work to communicate its strengths - efficiency, transparency and reliability - to win business.

However, this has to be done hand in hand with the rest of the tourism industry, he says. 'We need to work together to keep Singapore strong as a MICE and travel destination.'

Mr Diener was speaking yesterday at the inaugural seminar of Ngee Ann Polytechnic's new Centre of Excellence in Business Tourism.

Ngee Ann's School of Business and Accountancy will offer a new diploma in international business from next year.

Marginal Fall In Value Of 5 MI-Reit Properties Here

Source : The Business Times, November 20, 2008

Its only warehouse property in Japan revalued upwards by 13.4%

MACARTHURCOOK Industrial Reit (MI-Reit) has seen the valuations of five Singapore properties fall 1.3 per cent to $141.6 million from $143.4 million a year ago.

The properties are at Joo Seng Rd, Gul Way, Changi South Lane, Changi South Avenue and Tuas Avenue 20.

In a statement yesterday, MI-Reit said it recently obtained new independent valuations for eight properties - seven in Singapore and one in Japan.

The other two Singapore properties - at Tuas Avenue 2 and Admiralty Rd - in this revaluation exercise were unchanged in value at $23 million and $14.8 million respectively.

The Japanese property - Asahi Ohmiya Warehouse in Japan - was revalued 13.4 per cent higher at $33.1 million, up from $29.2 million a year ago.

MI-Reit has 21 properties - 20 in Singapore and one in Japan.

It said the valuation exercise increased its portfolio value to $559.9 million as at Nov 15. A year ago, when it had 13 income-producing properties, the portfolio was valued at $370.8 million.

In September, MI-Reit said it had obtained valuations for seven other Singapore properties. None of these had fallen in value, though four were unchanged. Collectively, the seven properties had a total value of $227.6 million at Sept 1, up from $226.3 million a year earlier. This was a 0.6 per cent increase.

According to a report by Colliers International, average capital values of prime freehold factory space and warehouse space in Q3 2008 remained largely unchanged.

Colliers estimated prime freehold factory space to have remained at $548 per sq ft (psf) and $437 psf for ground and upper-floor space respectively. Prime freehold ground and upper-floor warehouse space was estimated at $521 psf and $392 psf respectively.

High-End, Super Luxury Home Prices Slip In Q3: Savills

Source : The Business Times, November 20, 2008

Prices of high-end non-landed private homes continued to slide for a third consecutive quarter.

In Q3 2008, the average price for high-end and super luxury residential homes stood at $2,065 per square foot and $3,240 psf respectively, reflecting declines of 14.3 per cent and 12.0 per cent respectively since the beginning of this year, according to a report by Savills Singapore.

Island-wide, the latest official private residential price index from the Urban Redevelopment Authority showed its first sign of weakness, with a drop of 2.4 per cent after seventeen quarters of positive growth.

Compared with the previous quarter, islandwide landed home private prices slipped 1.9 per cent quarter-on-quarter.

Non-landed home prices in Core Central Region, Rest of Central Region and Outside Central Region declined 2.7 per cent, 2.4 per cent and 1.5 per cent respectively.

'In the wake of weakening sentiment, further downward pressure on prices across the board is expected for the next three quarters,' Savills said.

The property consultancy also said that rents for high-end non-landed private homes that it tracks fell for the second consecutive quarter, slipping 3.6 per cent quarter-on-quarter to $5.62 psf per month in Q3, as more prime projects entered the market after receiving Temporary Occupation Permit.

Charging Premium Rent In Tokyo Getting Harder

Source : The Business Times, November 20, 2008

(TOKYO) Seeking higher rents from tenants moving into new buildings has become 'difficult' amid the economic slowdown resulting from the credit crisis, said Mitsubishi Estate Co, Japan's largest developer by market value.

The owner of about 30 buildings in areas adjacent to Tokyo Station, Japan's most expensive business district, earned record operating profit on rising leasing income for a third straight year for the period ended March.

It was projecting a fourth year of record profits until the credit crisis struck, prompting a forecast cut on Oct 31.

'It is unclear how long the economic slowdown will affect Japan's property market,' Toyohisa Miyauchi, executive vice-president of Mitsubishi Estate, said. 'While we will continue to raise rents for existing tenants, we are seeing a softening in the market for new tenants.'

Before credit markets ground to a halt, the highest monthly rent agreed upon for new buildings in the area was 80,000 per tsubo (S$382 per square metre), for the Marunouchi Park Building, a 34-storey commercial tower set for April completion.

London has the world's highest office rents, followed by Moscow and Tokyo, according to a May report by CB Richard Ellis Inc, the world's largest commercial brokerage.

The highest rents obtained for the Marunouchi Park Building would lift Tokyo to second place after the yen's 8.4 per cent appreciation against the US dollar since May 31.

The commercial real estate market has since weakened, with Tokyo office vacancies rising to a three-year high in October, as companies cut spending and Japan's economy has fallen into recession.

The Topix Real Estate Index is the worst performer among 33 industry groups this month, having dropped 24 per cent.

'The vacancy rate is going up in Tokyo. That's one signal for us to reduce our holdings of some large real estate stocks,' said Yuichi Chiguchi, who helps manage about US$8.6 billion in assets at DIAM Co in Tokyo. 'We have to admit demand is slowing down in the office property market.'

Mitsubishi Estate shares fell 3.4 per cent, or 44 yen, to close at 1,236, taking the decline over the last six months to 57 per cent.

Mitsubishi Estate expects an increase in leasing income for the year ending March 2010, after the completion of the Marunouchi Park Building. The developer is trying to attract tenants that will be relatively insulated from the current slowdown, such as law firms, accountants, and merger and acquisition consulting companies, Mr Miyauchi said.

'There will always be companies that are financially sound even in a downturn.'- Bloomberg

URA Gives Sales Details For 2 Reserve List Sites

Source : The Business Times, November 20, 2008

Dakota Crescent plot is for residential project, Seletar Rd site for mixed development

The Urban Redevelopment Authority (URA) has released sales details for two Reserve List sites - at Dakota Crescent and Seletar Road.

The Dakota Crescent plot is for a residential development. The Seletar Road site is for a mixed commercial and residential development.

The 1.7 ha Dakota Crescent plot is near the future Singapore Sports Hub and the Dakota Crescent MRT station, which is under construction.

The 2.1 ha Seletar Road site is within the established residential area at Seletar Hills and near the future Seletar Aerospace Park.

Knight Frank expects that at today's auction the Dakota Crescent site could fetch bids of $170-$200 per square foot per plot ratio (psf ppr) and the Seletar Road could see interest at $120-$150 psf ppr.

But Knight Frank's head of research and consultancy Nicholas Mak said: 'Even with the favourable location, the probability that developers will trigger the Dakota Crescent site for tender is slim.

If triggered and launched for sale, it is expected that the launch price for the proposed development will be $650-$680 psf.'

Mr Mak reckons there will be limited interest in the Seletar Road site. 'Developers are generally very cautious and are seeking well-located sites with significant growth potential,' he said.

A nearby comparable for the proposed development is Seletar Springs Condominium. Mr Mak believes the average selling price for new units in a future condominium could be $530-$570 psf if launched in 2009 or later.

Several Government Land Sale sites have not been awarded this year, reflecting poor market sentiment. Sites at Tampines Avenue 1/Avenue 10, Ten Mile Junction and Westwood Avenue were not awarded because bids were too low. More recently, an executive condominium site in Punggol failed to attract a single bid.

DTZ Research senior director Chua Chor Hoon said: 'The property market has worsened a lot more since the Lehman Brothers' collapse. It is unlikely there would be any trigger for these sites until sentiment improves and the tight credit situation eases.'

Savills Singapore director of marketing and business development Ku Swee Yong said he does not expect to see any site triggered until Q2 2009 when the global credit crunch could start to ease.

'Developers who are still keen would need to be backed up by banks with credit for the land, and then the projected construction cost,' he said.

S'pore Is No 22 Globally In Retail Rent Rise

Source : The Business Times, November 20, 2008

Average super-prime Orchard Road rental up 5.2% at $54.40 psf per month in Q3

The Republic is among the top 25 cities for rising retail rents, according to the latest global survey by CB Richard Ellis (CBRE).

The average super-prime Orchard Road rent of $54.40 per sq ft (psf) per month in the third quarter of this year was 5.2 per cent higher than $51.70 psf in Q1.

This made Singapore the 22nd fastest-rising retail rent city over the six-month period in local currency terms. In top spot was Tel Aviv, with a 33.3 per cent increase, followed by the Portuguese city of Oporto, Abu Dhabi, Valencia and Lyon. China's Guangzhou ranked seventh, with a 16.3 per cent rise in rent, Shanghai, ninth with a 12.9 per cent increase and Hong Kong 10th with an 11.1 per cent rise.

In terms of most expensive global retail rents, Singapore inched up from 19th in the Q1 2008 ranking to 17th in the latest ranking. CBRE's rankings are based on annual retail rents in US dollars psf.

A separate survey by Cushman & Wakefield, also released yesterday but covering a different study period, shows Singapore slipping two positions to emerge as the world's 16th most expensive location for retail rents in June this year, from 14th in June 2007. The rankings are based on annual rents in US dollars psf.

In Singapore-dollar terms, the monthly Orchard Road rental appreciated 9.3 per cent from $42 psf in June 2007 to $45.90 psf in June this year, said Cushman & Wakefield Singapore's managing director Donald Han. He predicts that the June figure next year will be flat at around $44-46 psf.

Mr Han acknowledged that competition for tenants is growing, with the expected completion of new Orchard Road malls next year including Ion Orchard, Orchard Central and 313 @ Somerset.

'The days of new malls here achieving 100 per cent occupancy at least one year before completion are probably behind us,' he said.

Despite growing competition for tenants, Orchard Road rents will continue to be supported because 'it is the obvious target for new retail demand, for instance, for new brands entering Singapore', Mr Han said.

New York's 5th Avenue retained top spot in Cushman's latest June 2008 ranking, with annual rent of US$1,850 psf. Hong Kong's Causeway Bay, with rent of US$1,784 psf, kept its No 2 ranking, followed by Avenue des Champs Elysees in Paris at US$1,134 psf. CBRE's ranking placed New York, Hong Kong and Moscow in the top three spots.

Property Transactions With Contract Dates Between Nov 3rd - 8th, 2008

因反“屏风楼”压力 港澳超高楼矮化

Source :《联合早报》November 20, 2008



香港发展局局长林郑月娥昨日宣布,争议近30年的湾仔合和中心二期(前称Mega Tower)计划有新进展,发展商合和实业决定,大幅缩减发展规模,合和并承诺加强保育工作。








因金融大海啸冲击 一些主要城市店租下滑

Source :《联合早报》November 20, 2008


根据世邦魏理仕(CB Richard Ellis)的报告,日本东京和西班牙马德里(Madrid)的店租已经在过去六个月开始下跌5%。



高纬物业(Cushman & Wakefield)的分析员说:“展望前方,许多市场的消费能力预料会在2009年转弱,这是因为全球信贷危机的威力将开始在各主要街道感受到。”











仅卖出112个新私宅单位 10月份房市凄凉

Source :《联合早报》November 18, 2008








卓登新达国际(Chesterton Suntec International)研究部主管陈瑞谨和世邦魏理仕(CB Richard Ellis)执行董事李晓和都不约而同地将目前的市场环境,与2003年的沙斯期间作比较。




世邦魏理仕(CB Richard Ellis)执行董事李晓和就不看好私宅需求量会在接下来两个月明显回弹。



仲量联行研究部主管蔡炎亮说:“这是过去17个月来,有地住宅供应量首次超出需求量。”不过,这并不表示有地住宅的需求比较好,实际上,Watten Resi- dences和Goodman Crest这两个新推出项目连一个单位都没有卖出。

蔡炎亮指出,在这种市道下,房子卖得好不好,价格是最大的决定因素。例如每平方英尺中位价只有317元的Jewel@Chuan Hoe Ave(泉和路之宝),就在上个月将全部12个单位卖出,取得100%的销售率。这个聚落式洋房项目位于实龙岗一带,每个单位的售价约130万元、140万元。


上个月成交的单位中,尺价最高的是以每平方英尺2407元成交的一个乌节史格士(Orchard Scotts)公寓单位。

经济不景 碧山私人组屋申购冷淡

Source :《联合早报》November 16, 2008


将建在碧山24街的怡然阁(Natura Loft)组屋是建屋发展局第四个交由私人发展商设计、兴建和销售(DBSS)的组屋。申请昨天午夜12时截止。





今年7月推出的宏茂桥私人组屋“Park Central@AMK”,超过2300人申请578个单位,平均每单位四人申购。

文庆路“City View@Boon Keng”私人组屋的714个单位今年1月推出时收到约3500份申请,每单位有五人争购。

首个位于淡滨尼的“The Premiere@Tampines”私人组屋项目获得公众最热烈的反应。616个单位吸引了约6000人申购,平均每间组屋有近10人抢购。













他举例说,位于兀兰地铁站附近的Rosewood Suites就刚宣布以每平方英尺580元推出,和碧山私人组屋的价格相差不远,这样的价钱非常吸引人。