Singapore Real Estate Highlights Q3 2011

HIGHLIGHTS

• Developers' new sales decreased 4.1% in 3Q 2011. On a quarter on quarter basis, the pace of private property price increase moderated further to 1.3% for the 8th consecutive quarter since 4th Quarter 2009 while prices of resale HDB flats rose 3.8%. Rents of private residential properties inched up marginally at 0.8%.
• Amid softening global economic conditions, retail rents island-wise stayed firm. Orchard Road retail rents increased marginally following stabilising supply and influx of new retail brands.
• Following weakening global economies, dampened sentiments and upcoming supply, 3Q 2011 office market slows down signalling the possible near peak of the office cycle.
• The Industrial property sector remains stable despite global uncertainties and lack-lustre performance in several manufacturing clusters.

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Png Poh Soon, Director, Consultancy & Research

T: +65 6228 7393

pohsoon.png@sg.knightfrank.com