FacebookInstagramTwitterContact

 

BORNEO HOUSING AGENCY: Shop House in Seria Town • Industrial Warehouse in Menglait, Gadong for Rent • Shop house in Gadong (Ground Floor) for Rent • Industrial Shops in Bunut for Sale • Land in Jerudong for Sale • • Shop house in Kiarong for Sale (B$380.00) • TEL: +6738732975           >>           Private Company Urgently Need Houses & Flats for Rent in Bandar Seri Begawan, Kindly Contact the ff. nos. for further information: +673 222 0178/+673 873 2975           >>           Brunei - Oman Tingkatkan Komitmen Kukuh Kerjasama           >>           Berangkat Ke Majlis Santap Malam           >>           Friday Sermon           >>           Ri'ayah Wa Mahabbah Programme           >>           "10 Years Towards Retirement" Roadshow           >>           6 Members Of The Girl Guides Association Will Participate In The Camping In Singapore           >>           Real Madrid May Sell Injury-Prone Gareth Bale To Manchester United           >>           Pogba And Ibra Return A Boost For Mourinho In Title Tussle With Man City           >>           Spicy Derby della Capitale as Roma and Lazio become Serie A contenders           >>           Arsenal Vs. Tottenham: ESPN FC Analysts Picks For North London Derby           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

admin@brudirect.com

 

ADVERTISING

marketing@brudirect.com

 

PRESS RELEASE

pr@brudirect.com

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


Brunei Salebration
November 23rd, 2017 | 09:00 AM


School Camping Holiday
December 1st, 2017 | 00:00 AM


Creative Arts Festival
December 1st, 2017 | 00:00 AM


JERUDONG PARK SCHOOL HOLIDAY SPECIAL
December 1st, 2017 | 00:00 AM


THE BRUNEI ISLAMIC TOUR EXPERIENCE
December 1st, 2017 | 00:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 04:37AM

Subuh

: 04:47AM

Syuruk

: 06:09AM

Doha

: 06:32AM

Zohor

: 12:06PM

Asar

: 03:28PM

Maghrib

: 06:02PM

Isyak

: 07:15PM

 



The Business Directory


 

 



World Business


  Home > World Business


Singapore's Property Market Is Set To Sizzle


Photographer: Sanjit Das/Bloomberg

 


 November 14th, 2017  |  09:05 AM  |   721 views

SINGAPORE

 

A series of blockbuster land deals in Singapore this year signal the city-state’s property market is set to break out of its prolonged slump in 2018.

 

A Chinese group lobbed a winning record bid for a residential plot, while Guocoland Ltd. paid a record per-square foot price for an office development site in the central business district. Office rents last quarter rose for the first time in 2 1/2 years and home prices ended a four-year slide.

 

The spending spree may not be over, with more than S$3.3 billion ($2.5 billion) of land deals set to be completed by the end of the year, pushing the annual total to S$14 billion, the highest since 2011, according to Cushman & Wakefield Inc.

 

“Singapore’s residential and office market has passed its inflection point, embarking on an exciting recovery journey,” said Christine Li, a director of research at Cushman. “With brighter economic prospects and improved market sentiment in the next two to three years, developers are increasingly sourcing land sites to ride the wave of growth for the rest of the decade.”

 

Singapore in March relaxed some home-buying restrictions, unleashing pent up demand in a market where property ownership as a proportion of household assets is near a record low. Home prices could rise as much as 10 percent next year, according to analysts from Morgan Stanley, BNP Paribas SA and UOB Kay Hian Pte.

 

Brokers including Cushman and CBRE Group Inc. predict office rents will climb 7 percent to 9 percent as an oversupply of space eases.

 

The resurgence in deals suggests Singapore is on course to emulate Hong Kong’s red-hot property market, where home values have surged to record highs -- following a jump in land prices last year -- and office towers have fetched eye-popping prices. With housing-affordability much better in Singapore, there may be a surge in demand next year, according to BNP Paribas.

 

“Singapore’s property market has largely turned the corner, underpinned by a brightening economic outlook,” Tay Huey Ying, head of research & consultancy at JLL Singapore said. Residential and Grade A office assets are poised to remain investor favorites for the rest of 2017 and 2018, she said.

 

Residential land sales were boosted by redevelopment deals, or so-called collective sales, where a group of owners band together to sell entire apartment blocks, allowing developers to knock them down and build anew in a city where new residential land sales are tightly controlled by the government. These deals have topped S$6.3 billion this year, the highest since 2007.

 


 

Source:
courtesy of BLOOMBERG

by Pooja Thakur Mahrotri

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at pr@brudirect.com

 

Related News


CM Unveils 4th Surplus Budget

 2017-11-18 09:30:18

North Korean Defector Found To Have 'Enormous Parasites'

 2017-11-18 09:50:57

The Chinese Government Just Triggered a Selloff in the Country's Shares

 2017-11-18 10:23:25