princess_morbucks
19-02-14, 14:28
http://sg.news.yahoo.com/singapore-office-vacancy-rate-sales-volume-q4-2013-033451905--sector.html?utm_source=dlvr.it&utm_medium=twitter
Singapore office (http://www.commercialguru.com.sg/office) market had the third best vacancy rate and investment sales volume in Q4 2013, among the 29 key cities Cushman & Wakefield (C&W) tracks in the Asia Pacific region (APAC).
The city-state's overall vacancy rate improved from 5.7 percent in Q4 2012 to 4.35 percent in Q4 2013, just behind Beijing's 4.2 percent and Tokyo with 3.49 percent.
"Overall, availabilities in emerging markets across the region have inched up slightly reaching an average of 19 percent. Beijing, Hong Kong, Tokyo, Singapore and Manila were the tightest with vacancies below six percent at the end of 2013," said C&W.
Office investment sales volume in Singapore also reached US$856.01 million (S$1.08 billion) in the fourth quarter, behind Tokyo's US$1.58 billion (S$2 billion) and Hong Kong with US$3.81 billion (S$4.82 billion).
According to C&W, "investments into office real estate in the core markets slid about a third as compared to the fourth quarter in 2012, as momentum petered out at the end of 2013. However, total volume for the whole year, at US$56.9 billion (S$72 billion), was 17 percent up over 2012's and the highest since 2007."
Singapore also had the fourth highest office occupancy cost of US$7.4 psf per month (S$9.36) behind Sydney (US$7.59/ S$9.6 psf pm), Beijing (US$8.47/ S$10.72 psf pm) and Hong Kong at US$11 psf pm (S$13.92).
"At the end of 2013, Hong Kong's Greater Central remains at the top as the most expensive market at US$163 psf per year (S$206.24), followed by Beijing and Singapore," added the property service firm.
Singapore office (http://www.commercialguru.com.sg/office) market had the third best vacancy rate and investment sales volume in Q4 2013, among the 29 key cities Cushman & Wakefield (C&W) tracks in the Asia Pacific region (APAC).
The city-state's overall vacancy rate improved from 5.7 percent in Q4 2012 to 4.35 percent in Q4 2013, just behind Beijing's 4.2 percent and Tokyo with 3.49 percent.
"Overall, availabilities in emerging markets across the region have inched up slightly reaching an average of 19 percent. Beijing, Hong Kong, Tokyo, Singapore and Manila were the tightest with vacancies below six percent at the end of 2013," said C&W.
Office investment sales volume in Singapore also reached US$856.01 million (S$1.08 billion) in the fourth quarter, behind Tokyo's US$1.58 billion (S$2 billion) and Hong Kong with US$3.81 billion (S$4.82 billion).
According to C&W, "investments into office real estate in the core markets slid about a third as compared to the fourth quarter in 2012, as momentum petered out at the end of 2013. However, total volume for the whole year, at US$56.9 billion (S$72 billion), was 17 percent up over 2012's and the highest since 2007."
Singapore also had the fourth highest office occupancy cost of US$7.4 psf per month (S$9.36) behind Sydney (US$7.59/ S$9.6 psf pm), Beijing (US$8.47/ S$10.72 psf pm) and Hong Kong at US$11 psf pm (S$13.92).
"At the end of 2013, Hong Kong's Greater Central remains at the top as the most expensive market at US$163 psf per year (S$206.24), followed by Beijing and Singapore," added the property service firm.