The commercial and residential development are integrated with a bus interchange, a polyclinic, and a city plaza. The finished development will function as…
KI Residences: Upcoming Dream Residential Area In Singapore If you are a resident of Singapore then you must have already heard of the…
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Singapore, while having one of the highest rates of home ownership, has the most expensive real estates, which is surprising. On what basis do we make a comparison between the countries? Should we compare the prices based on one type of building or the area covered by the building? All of these questions need addressing as housing is an important sector in a government to develop their economy and control the use of land, grants ownership, impose taxes on the property and often builds them.
Singapore roughly has 75% of public housing, and the Housing Development Board manages its provision (HDB, which is a government agency. Public housing is reserved only for the Singaporeans. The remaining 25% is private housing which can be purchased by anyone except for the landed properties which are largely reserved for Singaporeans. Many internationals real estate comparisons do not include public housing for its records, so if only private housing sales are to be calculated for the average in Singapore, it might not be very accurate in the total stock calculation. In a report, it was found out that after including HDB the median resale price across all property segments in 2018 was 563,000 Singapore dollars. The HDB and executive condominiums sales accounted for 63 percent of all resale transactions in 2018. Meanwhile, the median private non-landed rescale price was 1.3 million Singaporean dollars. The report concluded that Singapore is, in fact, one of the most expensive housing markets in the world.
On comparing the Singapore market on an international level, the record of landed property or the square foot cost provides significant results. Whereas, comparison based on housing that the non Singaporeans can purchase provides different results overall.
Today Singapore stands on second spot after Hongkong with the housing cost up to 874,372 us dollars in the international market. The main reason for Singapore housing to be so costly is being the financial hub. It is one of the most developed business markets in the world with the best quality infrastructure, as well as economic and political stability. Singapore stays on the top list for the multinational companies to establish their headquarters. These factors are responsible for the increase in the cost of properties in Singapore.
However, it has been noted that the average price growth in Singapore was slower at 1.1 percent, whereas the price growth in Hong Kong was recorded to be 5.5 percent and 11.2 percent in Shanghai which is the third city with the most expensive housing rates. Other cities in the list of the top most expensive cities in Asia are Shenzhen, Beijing, and Mumbai.
With more industries building their foundations in Asia, it is sensible to say that the estate business is going to flourish in Singapore and other Asian countries. The government is finding out the best ways to put forth their schemes in the market with the best plans in real estates.
The commercial and residential development are integrated with a bus interchange, a polyclinic, and a city plaza. The finished development will function as a community-integrated development.
THE Allgreen Properties and Kerry Properties tie-up that tight the 99-year landed estate white website next to Pasir Ris MRT station are aiming to develop regarding 480 residences on top of 3 levels of retail area.
Its winning bid of nearly S$700 million works intent on S$684.48 per area unit per plot magnitude relation (psf ppr), supported a complete gross floor space of one.02 million square measure.
The business commercial and residential development are integrated with a bus interchange, a polyclinic, and a city plaza, giving seamless association to conveyance services and amenities for residents. the finished development will function as a community pays attention.
Dual Envelope Concept
The dual-envelope conception and worth revenue tender for the Pasir Ris Central website closed last Dec fourteen, attracting 3 tenderers.
The only alternative shortlisted tenderer, Far East Organization, bid nearly S$677.78 million, translating to S$662.75 psf ppr.
There was a 3rd bidder that took half within the tender however wasn’t shortlisted; this was a tie-up between Singapore Press Holdings and Kajima Development.
The Allgreen Properties and Kerry Properties tie-up’s unit land worth supported a lower gross floor space of 832,480 sq ft, excluding the general public facilities, works intent on S$840.86 psf ppr, a representative for Allgreen same once when contacted by The Business Times.
Allgreen can hold seventy percent of the venture, and Kerry Properties holds the rest. These 2 firms are also a part of the Kuok cluster of firms controlled by Malaysian big businessman Robert Kuok.
The mall can have 3 levels – 2 on top of the ground and a basement. there’ll even be basement automotive parking heaps for the retail mall.
The residents can have a separate automotive parking facility on Level three of the project; the residences are from Levels four to eleven.
The residential part of regarding 480 units can comprise one- to four-bedders.
The winning bidder has eight years to finish the event.
HDB adopted a dual-envelope conception and worth revenue tender system to rank quality development ideas with seamless integration of amenities and well-designed public areas.
Bidders were needed to submit their conception proposals and tender costs in 2 separate envelopes.
When the tender for the location closed last Dec, solely the envelopes containing the 3 conception proposals, one from every tenderer, were opened.
All tenderers got the chance to gift their proposals to the conception analysis committee (CEC).
Best Concept for All Green
Following analysis, the CEC set that 2 of the 3 conception proposals – those submitted are Far East Organization and also the tie-up between Allgreen Properties and Kerry Properties – had considerably glad the analysis criteria and will proceed to the second stage of tender analysis.
The price envelopes of the 2 shortlisted tenderers were then opened and also the website awarded to the Allgreen-Kerry partnership, that had submitted the upper bid of the 2 shortlisted tenderers.
Pasir Ris Central Residences may be a greenhorn mixed business and residential development by Allgreen Properties and Kerry Properties. The residences next to Pasir Ris MRT station should be integrated with a bus interchange, a polyclinic, and a city plaza, and may cede to 600 non-public homes. the most permissible gross floor space is ninety-five,010 sqm, with a projected gross plot magnitude relation of two.5.
Pasir Ris Central Premier Location and Amenities
Strategically situated at Pasir Ris Central in District 18, the residents’ future at Pasir Ris Central dwelling house are connected handily to encompassing areas of Singapore via Pasir Ris MRT station and also the Pasir Ris Bus Interchange. From the home, their square measure several top-notch utilities, nearby restaurants, good malls, and known colleges build the event are a dream home, increased residents quality life with a balance of love and indulgence. There’ll even be alternative treats future for Pasir Ris Central Residents together with the upgrading of 4 existing neighborhood centers – urban center purpose, Elias Mall, Pasir Ris West Plaza -as well as improved neighborhood parks with additional amenities like new playgrounds, linkways, and fitness corners.
Pasir Ris Central lies on leafage position and contemporary atmosphere, short walk to Pasir Ris Park – Singapore’s solely major coastal public park stretch one.2km in total. The park is also a good destination for family fun on the weekends. It is fascinating as families are projected to go picnic together and organize activities outdoors for all members of the family.
Nestled in Pasir Ris, with a captivating name about a city next to the ocean (hence the native name White Sands). However, the city was developed over thirty years past and desires a refresh. thus we tend to square measure rejuvenating it to supply additional facilities and property, and to form it an urban sanctuary, with nature at its threshold.
KI Residences: Upcoming Dream Residential Area In Singapore
If you are a resident of Singapore then you must have already heard of the upcoming KI Residences. It is a new 999 years leasehold development situated in Brookvale. This development is owned by Hoi Hup Realty and Sunway Group.
If you are in search of a sought after place to live in Singapore then Ki Residences could be one of the best options. The excellent location of the property makes it ideal for residential living. It is located near Clementi and Bukit Timah Plaza. You can also access shopping malls, schools and other important places quite easily from the condominium.
This 660 unit residential development is located away from the chaos of the city. But it takes only a short drive to reach the city at any given time. This is possible because the place is well connected with many of the important expressways. The developers are planning to extend the road passing through the forest area to build a direct route to the Clementi road.
Why Ki Residences?
The question should be why not this condo? The strategic location of the development makes it one of the most preferable living spots in Singapore. Residents of the property can enjoy the lush green surrounding while having access to all nearby amenities. Well, this is what makes the place all the more special.
The development is located close to many of the shopping malls. This will make the daily life of the residents easier. They can access the shopping area to get their necessities easily. Not just that but there are also many educational institutes and schools nearby to the condominium. This should provide huge relied on the parents as they don’t have to travel far to pick and drop their kids to school.
If that’s not enough for you, the development area is also well connected to all the nearby roads and expressways. So if you want to go to the city, you can drive through these routes.
Surrounded by greenery, it offers you a beautiful view every morning. The peaceful environment is quite addictive. All these features make the condominium the perfect place to live for both families and couples.
Other perks of staying at KI residences include:
- Developed by a reputable developer.
- Located nearby to many restaurants.
- Only 30 minutes away from MRT.
- It has a progressive payment scheme.
- The place is surrounded by numerous schools and colleges.
- All the amenities you need are available close by.
Staying at KI Residence condominium can give you a great experience. This development is suitable for all those people who are looking for a comfortable living. If you want to be away from the daily hustle and bustle of the city then this is the place for you. The property has around 660 units to be sold. This is one of the finest and the largest development coming up at Brookvale.
This Ki Residence – former brookvale park condo is undoubtedly one of the best places to stay. It has everything you need to spend your life comfortably.
Avenue South Residence Fundamentals Explained
Avenue South Residence is the new, amazing development that you’ve been seeking for a very long time too. Avenue South Residence permits you to get the peace of mind which you have been seeking for a lengthy time, which is just part of the fun. Avenue South Residence will provide you with the advantages that you have to have in a true estate property out there. Avenue South Residence also offer much greater facilities than every other resale property. Avenue South Residence is the incredible new development that you must see today. Being near the core of Singapore, Avenue South Residence is certainly the gateway that results in the considerable small business clusters in Singapore. Since the Avenue South Residence is also close to the business district, you will figure out how to do business or maybe to go to your office efficiently.
Anybody who has invested so much in property would want to get relieved from any further tensions and anticipate enjoying their most recent purchase. You’re going to be purchasing the property at the ideal price if you receive it directly from the developer. You ought to ensure that the property is the very best one for you and your loved ones. If you purchase an investment property, it is easy to locate a tenant that will allow you to pay down the loan and mortgage.
The majority of the residential real estate is occupied by means of a blend of owners and renters. It’s also vital for condos’ occupants to learn about condominium settings. Purchasing an Avenue South Residence condo will keep you from paying buyer’s commission because that will be covered by the developer. Therefore, if you sell the condo just before its completion, you have a prospect of acquiring a greater profit. Condo acquiring is not the very best option for all. Make your life easier by getting a condo at Avenue South Residence Condo viewing appointment It is extremely crucial to have a peek at the condo before your buy.
The Basic Facts of Avenue South Residence
Named because area surrounded by means of a prairie. Found in the outstanding Silat Avenue, Avenue South Residence is truly here in order to provide you with the peace of mind that you’re seeking for quite a long time too. The location of your condo will play a significant part in determining its value in the very long run. Aside from that, it’s been a great place to reside. If you’re a busy student who spends most time on study and does not have an opportunity to game with the staff, please don’t think about the avenue south. Residence Life isn’t involved in USPS package shipping. Condominium living also has possibility for numerous varieties of entertainment, as well as facilities.
Avenue South Residence – Overview
If you would like a back-up plan without actually moving to some other country under a Golden Visa or Residency Through Investment program, you will most likely start with permanent residency status, with the possible choice to submit an application for full citizenship in time though it is critical to note there are many nations in which you will probably never be qualified to become a citizen. There are plans of creating a community space near Avenue South Residence so you are going to have more reasons to buy a property here. Centrality in case you’ve got a to an awesome degree living strategy that you don’t will need to generate a fixate on fixes, little routinely. When it’s connected by 2021, it is going to spur the maturation of its surroundings, as stated by the URA.
The website can be found at Silat Avenue and is among the most attractive launch price around the Silat Avenue region. The web is offered by means of a company named Pavlov Media, a web and cable company free of idea how to be a net and cable company. Residing in Avenue South Residence provides you accessibility to a wide selection of amenities that are just found within the area. In both instances, you’ll get access to your workplace or to various prime and entertaining locations in the principal city with a good deal of ease. The choice of buying a condo ought to be based on lawful, social and cash related comprehension. Therefore, if you’re intent on giving you and your family some alternative alternatives, now is most likely the operative time to begin. If you’re going to choose the choice of avenue south residence new launchthen it is simply near to the Outram Park MRT interchange and other delivery belt.
You have to register so as to make sure that you’re updated with the newest information. When contemplating all factors, the purchase price of a condominium is cheaper in contrast to the single-unit home. Condo purchasing is a crucial cash related hypothesis. Condominium purchasing is comparable to obtaining single-family houses. Therefore, now you’re able to do shopping over there. The alternate lifestyle that condominium living offers is really enticing to a lot of men and women, giving them the opportunity to live individually but additionally enjoying a whole lot more benefit than with different kinds of rental residential property.
Treasure at Tampines boasts of 702,164-sq-ft space that now houses Tampines court that has 560 units across its 14 blocks. Each of the owners is to be awarded involving S$1.71 million and S$1.75 from the sale. With the advancements surrounding Treasure at Tampines such as the Chang Airport expansion plan, the demand on the condos is anticipated to be high as observed by Ken Kuik, Sim Lian holdings. The forthcoming MRT stations are other improvements which add value to buyer’s money.
Treasure at Tampines Condo Singapore is anticipated to be the most affordable brand new launch of 2019. As a result of relatively low land acquisition price and realistic developer pricing, Treasure Condo is the perfect selection for investment-minded homeowners, who also wants to give their best to their families.Treasure at Tampines is extremely well-located. Residents can also anticipate island-wide accessibility having a new slip road that leads straight into PIE (equally towards Changi and towards City).With Jewel Changi Airport’s opening, as well as the growth and development of Changi Business Park beneath the newest Singapore Master Plan 2019, Tampines, as the regional hub, is set to reap the benefits. From having a broader and much more developed tenant pool to potential capital appreciation, Treasure at Tampines is the perfect choice for expat leasing and informed land investors.The Quarry Park, a former sand quarry is located just across the border of Tampines. But, there is absolutely no official method to this park that has no facilities, but you will encounter one, if you are lucky to navigate through the vegetation. It’s acceptable for photography, bird watching, and comfort.A small distance out of the treasure at Tampines is a wildlife center with cute settings, Bedok Reservoir and views. Then you have plenty if you’re a water sports enthusiast. Tampines is featured with golf courses located south east region of the district.In short, Treasure at Tampines condo has a lot to offer for family and is undoubted reason it is the house for many families. Almost half of all the 80, 000 families in Tampines include of households with 3-4 members.
Some Of The Biggest Malls Near Treasure At Tampines Include:
It has improved through the last few years and now features navigation means like escalators. It has parking spaces that are accessible through 2 different entrance points. At Tampines mall,you will find most of the things which you want future residents of Treasure at Tampines will gain from it and which explains why it is one of the most visited malls in the area.Century Square is the mall among the three malls in Tampines the six storey mall offers you most of the things you will want if you decide to stay in the bookstore in Tampines. Its floors Each are packed with different categories of brands ranging from food takeaways kiosks located from the basement to athletic/fashion wear on the first floor and amusement on the floor. The majority of the improvements were added into the mall. With a lot of shopping pints in the mall you’ll enjoy every part of your own time shopping.Tampines 1This is the mall one of the three, and many residents prefer obtaining their amenities here. It has varieties including great supermarkets and restaurants Though it smaller as compared to Tampines mall.Well, there are numerous reasons why you should decide on an condo near shopping centres like the Treasure at Tampines. Here are some of the benefits
Explore luxury in your residence with Avenir
The condos in Singapore, newly launched The Avenir are the next name for luxury. As the owners can see their home built on the ground, you will be proud to have a condo in Singapore. For the owner of the abode and will allow you to be the part-owner of all amenities. Below are the benefits that you can avail by living in a condo:
Sweat all your fat in your personal gym:
Nowadays, everyone is a fitness freak that allows you to work out regularly. If you are an owner of any condo based in Singapore, you can use your elevator and go to your gym for solving the problem. The Avenir, although you are sharing the ownership for the gym with the surrounding unit owners but can enjoy the privilege of owning a gym to be used at any point of time. As you do not need to take the cab or look for the nearest gym in your city. As far as fitness programs are concerned, there should be no ifs and buts in following the exercise schedules. Never burden yourself with the weight-loss program instead enjoy the ownership and implement your most profound desires of being fit regardless of your age.
Enjoy your pool for your residence:
The swimming pool is being arranged for the owners of the condo unit and allows the owners to take the privilege of the swimming pool as per your desires. We all know that swimming lessons enable the user to pay quite a considerable amount to have access to a specific part of the swimming pool or enjoy the membership of the nearby club. While staying in a condo, these issues will never arise. You and your loved ones can plunge in cold water for the pool anytime as you want. Try to feel the soothness of cold water and aid your aching back after a tiring day of work. The Avenir condo new launch offers all such amenities and their maintenance at a reasonable cost for the owners.
If you are hosting any part but you do not have enough budget to shoulder your expenses for the same. But once you are an owner of the condo in Singapore, you never need to bother about the amount that you love to spend on the best venues of the party. As the authorities present allows you to hold your rights at the swimming pool.
Relishing the luxury you can even host a Carribean theme party at the beat of drums and sway your legs. You didn’t have to spend any money to feel wonderful on the island and the luxurious amenities of lush green landscape, swimming pool, elevator, open-air windows are just a blink away. Apart from the same, the condos will help you to stick to your budget needs and allow you to enjoy the simple luxuries without spending a fortune. The Avenir condo new launch is one of the best options for the people looking for luxury housing and exploring the elite lifestyle.
Leedon Green is another project that is about the launch in Singapore. It is a brand new project based on residential development in a very prosperous vicinity of prime 9th district in the river valley area. The condo is at a quite reasonable distance from Orchard Road.
Roxy-Pacific Holdings is the one who has launched this fantastic building. IF you don’t know then let me tell you that Roxy-Pacific Holdings is one of the recognized firms in Singapore. The company is renowned for acquiring freehold lands and for building small and affordable buildings in the most affordable prices. The Project is declared to be completed by 2023, but the condo was opened for sale in 2018 in October.
Mainly the Leedon Green Condo is in the spot of River valley as mentioned above. Here the best thing is that it is a minor distance to Orchard Road. And not only this will you find out huge shopping malls around at the walking distance of about 9-10 minutes. All in all, we can say that you are going to get each amenity that is necessary near the green condo such as fast food joints, restaurants, food courts, supermarkets, schools, bank and much more.
Not only this but let me tell you that Robertson Quay is also at a little distance from the Leedon Green Singapore, where you can enjoy the mix of wines at bars, bistros, pubs, alfresco dining and much more.
Shopping and groceries stores near Leedon green
Other accessible things are the shopping malls and grocery centers; then there are many centers near the green condo. Some of them are cold storage The Star Vista, Holland village, Cluny court, Sheng Siong Hypermarket and NTUC FAIRPRICE.
Other recreational places that you can enjoy
If you love sports, then there are some places near Leedon green that you can explore, such as Archery Club, Tanglin Golf Course, and Queenstown Stadium, etc.
Luxurious lifestyle facilities
One of the most luxurious lifestyle parts that I found here is the night time vicinity of the River Charm that is a perfect mixture of an old and new tradition. So, you will have a great time spending time having its view.
The condo flats are all about the features they provide to the residentials. So, let’s have a look at some of the features of the Leedon green condo so that you can have a better idea of what are the best and unique things about the apartment.
- The apartments are luxurious and are exquisitely designed to provide a high comfort level to the residential.
- It is located in the prime district of Singapore making it enticing and even more appealing
- MRT stations are at a very less distance to the condo
- Last but not the last is that it has a progressive payment scheme
These are the highlighted features of the Leedon green condo Singapore, which makes the people compelled to have their own flat and why shouldn’t it be like that when the condo building location is quite fundamental.
Reasons to consider –
When searching for the next place to create your home convenience is a great element to take into account. Well, future residents of One Pearl Bank condo will appreciate the convenience that prevails in this part of Singapore. With nearly everything in this condo location located right near your home, you get to live a more comfortable lifestyle. Amenities and facilities are in abundance so that you don’t have to cover long distances to bring supplies.
Contrary to the old District 3, this region has become transformed into a vibrant enclave packed with several developments that suites residential living. You can find a plethora of food choices, boutiques, shopping destinations and much more around the neighborhood. To give you a glimpse of what this area has to offer, here are some of the things that you can look forward to enjoying during your stay at One Pearl Bank residences.
Proximity to many places
Situated close to the CBD, the advantage you get living at One Pearl Bank is exceptional. This area is well connected with roads and MRT lines that deliver quick transport. With an excellent transportation system, accessing a variety of facilities in the area is made possible. You’ll be able to save lots of times traveling between places.
The future residents of One Pearl Bank can get anywhere they need using their cars or the multitude of bus services provided in the area. The roads make travel across the area a breeze. One Pearl Bank is located near NE3 Outram Park, NE4 Chinatown MRT, and EW16 Outram Park.
Outram Park is the closest train station to One Pearl Bank, other channels around the area offering complete train companies include Queenstown, Redhill, Tong Bahru, and Commonwealth.
Prospective residents of One Pear Bank will enjoy the convenience they get from the established transportation network coupled with the proximity to a plethora of amenities and facilities which provide for their day to day requirements.
PROXIMITY TO SCHOOLS NEARBY ONE PEARL BANK CONDO
District 3 does not just deliver vibrancy; it’s packed with several educational institutions which will provide for the needs of households with school-going children. The schools are conveniently situated enabling your children to get to school on time. Besides, the area is well connected making commuting to colleges easy.
With the availability of schools which cover almost all of the educational levels, parents residing in District 3 should have no worries. With proximity to the CBD and fantastic transport network, parents may even drop their children to college as they head to work.
ONE PEARL BANK — NEARBY SHOPPING CENTERS
Residing at One Pear Bank condominium will appreciate the access to unlimited shopping spots. The shopping paradise features enough malls to provide for whatever you may need during your stay in district 3. The majority of the shopping malls feature eateries, banks, grocery, supermarkets, fashion stores, cosmetic stores and much more. Besides, the majority of the malls are just a walking distance away from your house at One Pear Bank delivering utmost convenience that you will enjoy.
When you will need a through retail therapy, just visit the nearby Pearls Centre just 6 mins walk away. The shopping malls boast of about 199 shops providing various services. Some of them include hairdressing salons, traditional Chinese medicine stores, beauty centers, coffee houses, travel agencies and more. It is just next to Outram Park NE3/EW16 and Chinatown NE4 MRT making accessing the mall simpler. The One pearl bank floor plans and layouts will also impress you.
Good Entertainment and food
Clarke Quay is another incredible shopping area next to One Pearl Bank. Clarke Quay features several godowns and warehouses which haved been transformed into an entertainment and playful lifestyle centre. It has several retails shops, entertainment spots, wine bars, restaurants and more. It is a great place to visit if you want to experience a bustling market atmosphere.
Tiong Bahru Plaza is also a great place for shopping. Other retail options you have around include Chinatown Point, Concorde Shopping Centre, IKEA Alexandra, Alexandra Central Mall, Amara Shopping Centre, icon Village, 100 AM Shopping Mall and Anchorpoint. Queensway Shopping Centre makes a good choice for sports and fitness fans as it features several established sports brands.
The respectable Orchard Road shopping belt is only a couple mins drive away. Access to Orchard Road enables the prospective residents of One Pearl Bank to store in the world’s famous shopping destination. This place offers a cutting-edge shopping choice featuring flagship designer boutiques, restaurants, entertainment options and more.
Singapore property and rent prices are predicted to increase in 2019, with the increase of capital investments from the cross-border industries. Singapore has been the most priced silicon hub for the industries, and hence, the cost for the public as well as private sectors have increased at a significant rate.
According to the rise in the rates for private homes in the second half of 2018 has been studied and the prices for homes are predicted to rise at least 5 percent in 2019. Singapore housing market is assumed to be overpriced. However, there is a need for improving demands and supply in the hub.
As the housing demand increases in Singapore due to the rise of industries, the supply is starting to decline due to insufficient private land area. We see the rise in the potential demands from the HDB owners who are eligible to upgrade their apartments after meeting their five-year minimum occupation period requirements. HDB is the biggest contributors to the demands of the multinational companies in providing the apartments which they buy from the public developers.
In 2017 and 2018, nearly 20 billion Singapore dollars were spent for the bloc payouts. These payouts are yet to be deployed back into the property market. Most of the private developers have to pay back to the industries, and this is the year, which will constitute the maximum amount of investment. The deployment is supposed to boost S$10 billion sales-per-year condo market. As the household revenues have reached new heights, the GDP growth remains the same for Singapore. As the mortgage rates continue to rise, the home prices will continue to rise.
Other sectors, such as malls have also increased their rents to one percent compared to 2018 after a five-year decline. It is supposed to grow even more in 2019 but at a slower rate. As the supply is limited, the prices for hotels also predicted to increase at least one percent. In 2018, the prices increased three percent. 2019 will slow down the rates of biennial meetings, incentives, conventions, and exhibitions (MICE) event, which has reduced the guests to arrive in Singapore for stays.
The industries, however, demand less than what is being supplied to them. Industrial rents will inflect in 2019 after a slight decline in 2018. The possibility of gaining growth in the economy due to the rent have been predicted as positive. There has been an improvement in the leasing interest in the logistics space. The industrial tenants have been holding back to expansion plans since 2018 in public housing, which will increase the rates of the rents if paused for a longer period due to more demand and lesser estates for industrialists.
Hong Kong Becomes World’s Most Expensive Office Market As Asia Enjoys 45 Billion Dollar Commercial Property Investment
Hong Kong has surpassed London for being the most expensive office market in 2019. According to the reports from CBRE, the average costs for leasing the best office space in the market for the best location has increased by 3.6 percent globally in the past year. Today the most expensive markets for offices are Hong Kong Central with $322 per sq. Ft. per year and London’s West End with $222.70 per sq. Ft.
As the market for Hong Kong increases, Asia gains more market overall with 14% in the first quarter of 2019. Asia sets a new world record with 45 billion dollars invested in the market. Hong Kong’s position has dropped to sixth place in the world’s most liquid investment markets and dropped from fourth to fifth place on cross-border investments especially in the regions of Hong Kong, Singapore, Shanghai, and Beijing.
New trend rise
Although Hong Kong faced a slight depression by the end of 2018 and performed weaker in the first quarter of 2019, now the market is tending to raise again. Today the investors are positive that the trend will continue to grow throughout the year. Joseph Tsang, the managing director at JLL in Hong Kong, comments that the industrial properties will outperform in the property investment market, due to new measures in the Government’s Revitalization Scheme. The central government is a major carrier of all the processes in industrial levels in Hong Kong and Singapore. With the government’s “Greater Bay Area” initiative, Hong Kong is developing links with Macau and other cities of the pearl river delta. Local and foreign investors are now targeting assets for the capitalization on future growth.
Foreign investments on the rise
Foreign investments have increased in China the highest investment done by both domestic and foreign groups have been estimated to be 3.4 billion US dollars, which is the highest quarterly record up until now. The CBRE has pushed out reports on the market occupancy cost in the first quarter based on a central location, modern infrastructure and transit options, including prime social amenities and Hong Kong Central,l stand on the top of the list followed by London, Hong Kong, New York and Beijing. The rates fall down to upto $187.77 per sq. Ft. in Beijing, which is still considered a high value.
Singapore property and rent prices are predicted to increase in 2019, with the increase of capital investments from the cross-border industries. Singapore has…