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URA Q3 data confirms pick-up in office leasing market
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Latest figures from Urban Redevelopment Authority confirm the views of some industry players that the office leasing market has emerged out of a downturn.
URA's office rental index in the central region rose 0.8 per cent in the third quarter over the preceding quarter. This marked a bigger increase compared with the 0.2 per cent gain registered in Q2.
However, the islandwide office vacancy rate climbed to 9.6 per cent at end-Q3 from 8.8 per cent three months earlier. For private-sector office space, the vacancy rate rose from 9.5 per cent to 10.4 per cent.
The higher islandwide vacancy was amid a net addition of about 1.3 million sq ft of available office space in the third quarter of this year - from the completion of major projects such as Asia Square Tower 2, The Metropolis Tower 1 and Nexus@ One-North.
On the demand side, the islandwide office market saw net increase in occupied space of about 495,000 sq ft in Q3, higher than 205,000 sq ft in Q2.
URA's All Industrial rental index rebounded 4.4 per cent in Q3 after dipping 0.1 per cent in Q2. Its multiple-user factory rental index increased 4.4 per cent in Q3 after inching up 0.1 per cent in the second quarter. Multiple-user warehouse rents recovered 4.6 per cent in the July-September period from the 2.4 per cent decline in Q2.
At the same time, vacancy rates eased slightly to 7.5 per cent at end-Q3 from 7.6 per cent at end-Q2 for factory space and to 6.7 per cent from 7.2 per cent for warehouse space, according to URA's data.
URA's shop rental index climbed 0.4 per cent in Q3, contrasting with a 0.8 per cent slide in Q2. The shop price index, however, appreciated at a slower clip of 0.4 per cent in the third quarter, compared with the 1.7 per cent increase in Q2. In similar fashion, the price index for office space rose one per cent in Q3, compared with Q2's 1.5 per cent gain.
Prices of multiple-user factory space continued to inch up 0.9 per cent after posting a 0.5 per cent gain in Q2.
Multiple-user warehouse space posted the most dramatic turnaround, rising 10.4 per cent in the third quarter, after slipping 5.9 per cent in the previous quarter.
Source: Business Times –26 October 2013
District 1
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District 11
Chancery Court En Bloc | Chancery Court Condo | Thomson Road Condo | Novena Condo | Newton Road Condo | Pullman Residences | Pullman Residences Floor Plans | Dunearn Road Condo | 386 Dunearn | Dunearn Court Condo | Derby Court | Fyve Derbyshire | Derbyshire Road Condo | Kampong Java Road |
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Balestier Road Condo | Toa Payoh Condo | Neem Tree | Riverbay | Boon Teck Towers | Eight Riversuites | Boon Teck Towers En Bloc | Gem Residences | Kallang Riverside Condo |
District 13
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District 14
Eunos Condo | Eunos MRT Condo | Sims Avenue Condo | Changi Road Condo | Parc Esta | Eunosville | Eunosville En Bloc | City Plaza | City Plaza En Bloc | Paya Lebar Road Condo | Sims Drive Condo | Park Place Residences | Paya Lebar Quarters | Sims Avenue Condo | Paya Lebar Central |
District 15
Dunman Road Condo | Coastline Residences | Amber Sea | One Meyer | Albracca | Siglap MRT Station Condo | Marine Parade Road Condo | Casa Meyfort Condo | Meyer Mansion Floor Plans | Meyer Mansion | Meyer Modern | Nanak Mansions | Meyerhouse Exclusive Condominium | Meyerhouse | Meyerbank | Nyon | Rebirth of Amber Park Condo | Amber Park Condo Seafront Living | Amber Park | The Opus | Parkway Mansion | Amber Park En Bloc | Hawaii Tower En Bloc | Parkway Mansion En Bloc | Albracca En Bloc | Laguna Park | Laguna Park En Bloc | Tanjong Katong MRT Station Condo | Meyer Road Condo | Hawaii Tower | Katong Park MRT Condo | Katong Park Residences | Katong Park Towers | Amber Gardens Condo | Amber Road Condo | Neptune Court | Neptune Court En Bloc | Lagoon View | Lagoon View En Bloc | East Coast Marine Parade Condo | Katong Shopping Centre | Katong Shopping Centre En Bloc | Mountbatten Road Condo |
District 16
Siglap Road Condo | Mandarin Gardens | Mandarin Gardens En Bloc | New Upper Changi Road Condo | The Glades | Bedok South Condo |
District 17
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District 18
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District 19
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District 20
Marymount Road Condo | Braddell View En Bloc | Lentor Hill Road Condo | Lentor Central Condo | Braddell View | Shunfu Road Condo | Jade Scape | Far Horizon Gardens | Far Horizon Gardens En Bloc | Ang Mo Kio Avenue 9 Condo | Faber Gardens | New Lorong Puntong Condo | Thomson Impressions Condo | Adana | Panorama | Upper Thomson Road Condo | Yio Chu Kang Road Condo | Lentor Road Condo | Caldecott Condo | Bishan Central Condo | Lentor Drive Condo |
District 21
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District 22
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District 23
Toh Tuck Road Condo | Kismis View | Dairy Farm Road Condo | Dairy Farm Residences | Dairy Farm Residences Floor Plans | Foresque Residences | The Lanai | Hillion Residences | Bukit Batok Condo | Hillview Rise Condo | Dairy Farm Residences Prices |
District 25
Woodlands Square Condo | Woodlands Square Commercial | Woodlands Central Condo |
District 26
Springside Road Condo |
District 27
NorthPark Residences | Canberra Drive Condo Sembawang | Canberra Link Condo Sembawang | New Yishun Ave 4 Condo | The Wisteria | Condominium Yishun Central | Symphony Suites | Yishun Avenue 9 Condo | Sembawang Road Condo |
District 28
Jalan Kandis Condo | Kandis Residence |
Executive Condo
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