Monday 23 July 2012
Sunday 24 June 2012
SINGAPORE : Beijing and Shanghai have jumped ahead of Singapore in the latest Cost of Living survey by human resource consultancy ECA International.
According to the survey, Beijing is Asia's fifth most expensive location, up from eighth place in the previous year.
Shanghai also moved up the ranking from ninth position in 2011 to sixth place this year.
Meanwhile, Singapore slipped two places to eighth place in the Cost of Living ranking.
Despite the drop, Singapore is still ahead of Hong Kong which lies in ninth place, down from seventh in 2011.
The top four most expensive locations for expatriates in Asia are all in Japan - namely Tokyo, Nagoya, Yokohama and Kobe.
In a statement, ECA International said: "In Asia as a whole, the price of goods and services commonly purchased by expatriates has risen by just over 6 per cent on average - slightly higher than the 4 per cent increase witnessed a year ago. Tokyo is still the most expensive location in Asia - and the world - for international assignees."
Tokyo maintained its top spot in the global ranking, followed by Oslo in Norway and Nagoya in third place in 2012.
Despite falling in the Asia ranking, Singapore has continued its rise up the global ranking.
It is now in 32nd position, up from last year's 38th position and the previous year's 69th place.
According to the survey, the cost of living in Singapore for expatriates is now higher than cities such as Berlin in 47th place, Manhattan New York in 40th position and Paris in 34th.
Lee Quane, regional director at Asia for ECA International, said: "Prices of goods and services in our basket of items commonly bought by international assignees in Singapore have increased almost 6 per cent on average in the last 12 months. This is almost double the rate at which they rose a year ago.
"This, together with the fact that over the same period the Singapore dollar has remained strong against other major currencies, has contributed to Singapore's continued rise up the global ranking."
Meanwhile, Asian cities such as Beijing, Shanghai and Hong Kong also climbed up the global ranking.
Beijing is ranked as the world's 20th most expensive location for expatriates, while Shanghai is in 26th place, and Hong Kong in 36th position.
- CNA/ms (Via Channelnewsasia dated 21 Jun 2012 - Singapore Businessnews)
According to the survey, Beijing is Asia's fifth most expensive location, up from eighth place in the previous year.
Shanghai also moved up the ranking from ninth position in 2011 to sixth place this year.
Meanwhile, Singapore slipped two places to eighth place in the Cost of Living ranking.
Despite the drop, Singapore is still ahead of Hong Kong which lies in ninth place, down from seventh in 2011.
The top four most expensive locations for expatriates in Asia are all in Japan - namely Tokyo, Nagoya, Yokohama and Kobe.
In a statement, ECA International said: "In Asia as a whole, the price of goods and services commonly purchased by expatriates has risen by just over 6 per cent on average - slightly higher than the 4 per cent increase witnessed a year ago. Tokyo is still the most expensive location in Asia - and the world - for international assignees."
Tokyo maintained its top spot in the global ranking, followed by Oslo in Norway and Nagoya in third place in 2012.
Despite falling in the Asia ranking, Singapore has continued its rise up the global ranking.
It is now in 32nd position, up from last year's 38th position and the previous year's 69th place.
According to the survey, the cost of living in Singapore for expatriates is now higher than cities such as Berlin in 47th place, Manhattan New York in 40th position and Paris in 34th.
Lee Quane, regional director at Asia for ECA International, said: "Prices of goods and services in our basket of items commonly bought by international assignees in Singapore have increased almost 6 per cent on average in the last 12 months. This is almost double the rate at which they rose a year ago.
"This, together with the fact that over the same period the Singapore dollar has remained strong against other major currencies, has contributed to Singapore's continued rise up the global ranking."
Meanwhile, Asian cities such as Beijing, Shanghai and Hong Kong also climbed up the global ranking.
Beijing is ranked as the world's 20th most expensive location for expatriates, while Shanghai is in 26th place, and Hong Kong in 36th position.
- CNA/ms (Via Channelnewsasia dated 21 Jun 2012 - Singapore Businessnews)
Wednesday 20 June 2012
Savills Singapore had a successful year at the annual Asia Pacific Property Awards 2012 winning three accolades.
- Best Real Estate Agency
- Best Real Estate Agency Marketing, International
- Highy Commended Letting Agency
This award is recognized as a symbol of excellence throughout the global real estate industry. Attaining one of these awards is indisputable evidence of Savills leading position in Singapore real estate market.
Christopher J Marriott, CEO, South East Asia of Savills says, "I am delighted that the teams' exceptional performance has been recognised by such a prestigous industry award. We have all worked hard over the past 4 months to make our mark as one of the most exciting and dynamic businesses. With 400 full time staff close to 1000 brokers, we have the depth and penetration to go further in 2012.
An extensive judging process was carried out by a panel of over 60 experts covering every aspect of the property business. It is indeed an accolade to receive this acknowledgement of our commitment to excellence by fellow industry profession.
All content copyright 2012 Savills Residential Pte Ltd. All rights reserved
Agency No: L3007487F
Sunday 17 June 2012
Property News Update
Published June 09, 2012 - The Business Times
REAL ESTATE
The Shenton Way of life
Living in the area has the distinguishing feature of working and playing within your doorstep. By Alan Cheong
WITH the completion of The Sail @ Marina Bay in 2008 and its subsequent success in leasing activity, city living in Singapore finally took off. With further completions of apartments in the area, such as One Shenton followed by The Cliff, the area is proving to be a magnet for expatriates who work around the vicinity wishing for convenience to and from the office. These initial successes will amplify the attraction of city living among these upcoming projects.
Those vested with foresight who bought these early offerings could potentially reap handsome rewards. Take The Sail, for example. Launch prices in 2005 were in the mid-$900 psf (per square foot) range. Today, prices range from $1,750 to 2,150 psf, representing an 84-126 per cent gain. For those who bought One Shenton at the launch price of $1,850 psf in January 2007, current prices at $2,150 psf would still return 16 per cent.
Not a bad return, considering the fact that one still has a rental yield of 2.6 per cent based on current prices or 3 per cent based on entry-level prices.
Almost all developments launched around the Shenton Way vicinity since Q1 2010 (see table) are yielding handsome marked-to-market returns. Returns ranged from 13.3 per cent to 26.7 per cent. In contrast, the URA (Urban Redevelopment Authority) property price index for the Core Central area rose by 13.1 per cent in the same period. So what's so special about city living that leads to generally outperformed returns in the prime districts?
Chief among reasons is that we believe luxury residential developments in the city centre would find a wide audience for rentals. We offer some reasons as to why the rental market in the district is active.
-The changing profile of expatriates with an increasing number of singles who do not mind renting small-format housing.
-Proximity to Grade A offices in the financial district that has greater latitude with rental budgets.
-Easy access to highly rated food and beverage haunts in and around the district.
Shenton Way living therefore has this distinguishing feature of working and playing within your doorstep. Some may say that it is fun-filled work. Over the weekends, the district bathes in serenity as city traffic withdraws to the suburbs.
For those who enjoy sports, Shenton Way sits right in the middle of our network of jogging and cycling paths to and from the East and West Coast. Every year, the Formula 1 race enlivens the entire downtown district and Shenton Way is just within walking distance from the circuit.
For many years, the concept of city living did not quite take off until the completion of the first high-end residential apartments in the late 2000s. Ever since then, bit by bit, like growing shoots, city life is taking root. Jumping on the bandwagon, United Industrial Corp is launching Five on Shenton in this area (previously known as the UIC building).
With only a few years of price evidence, it is shown that the Shenton Way district has seen prices outperform luxury properties.
This may continue as supply is relatively constrained and it may very well be possible that investing in this part of the island may insulate one from the vicissitudes of the rest of the property market. This will add stronger arguments to the investment case as investors to look at diversifying their holdings from the more mainstream districts.
For those keen on investments, one thing to look out for is rental return. Gross rental yields for luxury apartments here are about 4 per cent per annum. This is considered a healthy rate because borrowing costs are below 1.5 per cent per annum. Interest rates in Singapore are relatively low because it does not have an interest rate policy, using instead productivity gains and exchange rate to combat imported inflation.
As a comparison with world cities, price-wise, Singapore is ranked up there with Hong Kong and ahead of other global gateway cities such as London and Tokyo. That Singapore is expensive is not unexpected. That is a price to pay for safe-haven status. After all, good things don't come cheap.
The writer is head of research, Savills Singapore
Published June 09, 2012 - The Business Times
REAL ESTATE
The Shenton Way of life
Living in the area has the distinguishing feature of working and playing within your doorstep. By Alan Cheong
WITH the completion of The Sail @ Marina Bay in 2008 and its subsequent success in leasing activity, city living in Singapore finally took off. With further completions of apartments in the area, such as One Shenton followed by The Cliff, the area is proving to be a magnet for expatriates who work around the vicinity wishing for convenience to and from the office. These initial successes will amplify the attraction of city living among these upcoming projects.
Those vested with foresight who bought these early offerings could potentially reap handsome rewards. Take The Sail, for example. Launch prices in 2005 were in the mid-$900 psf (per square foot) range. Today, prices range from $1,750 to 2,150 psf, representing an 84-126 per cent gain. For those who bought One Shenton at the launch price of $1,850 psf in January 2007, current prices at $2,150 psf would still return 16 per cent.
Not a bad return, considering the fact that one still has a rental yield of 2.6 per cent based on current prices or 3 per cent based on entry-level prices.
Almost all developments launched around the Shenton Way vicinity since Q1 2010 (see table) are yielding handsome marked-to-market returns. Returns ranged from 13.3 per cent to 26.7 per cent. In contrast, the URA (Urban Redevelopment Authority) property price index for the Core Central area rose by 13.1 per cent in the same period. So what's so special about city living that leads to generally outperformed returns in the prime districts?
Chief among reasons is that we believe luxury residential developments in the city centre would find a wide audience for rentals. We offer some reasons as to why the rental market in the district is active.
-The changing profile of expatriates with an increasing number of singles who do not mind renting small-format housing.
-Proximity to Grade A offices in the financial district that has greater latitude with rental budgets.
-Easy access to highly rated food and beverage haunts in and around the district.
Shenton Way living therefore has this distinguishing feature of working and playing within your doorstep. Some may say that it is fun-filled work. Over the weekends, the district bathes in serenity as city traffic withdraws to the suburbs.
For those who enjoy sports, Shenton Way sits right in the middle of our network of jogging and cycling paths to and from the East and West Coast. Every year, the Formula 1 race enlivens the entire downtown district and Shenton Way is just within walking distance from the circuit.
For many years, the concept of city living did not quite take off until the completion of the first high-end residential apartments in the late 2000s. Ever since then, bit by bit, like growing shoots, city life is taking root. Jumping on the bandwagon, United Industrial Corp is launching Five on Shenton in this area (previously known as the UIC building).
With only a few years of price evidence, it is shown that the Shenton Way district has seen prices outperform luxury properties.
This may continue as supply is relatively constrained and it may very well be possible that investing in this part of the island may insulate one from the vicissitudes of the rest of the property market. This will add stronger arguments to the investment case as investors to look at diversifying their holdings from the more mainstream districts.
For those keen on investments, one thing to look out for is rental return. Gross rental yields for luxury apartments here are about 4 per cent per annum. This is considered a healthy rate because borrowing costs are below 1.5 per cent per annum. Interest rates in Singapore are relatively low because it does not have an interest rate policy, using instead productivity gains and exchange rate to combat imported inflation.
As a comparison with world cities, price-wise, Singapore is ranked up there with Hong Kong and ahead of other global gateway cities such as London and Tokyo. That Singapore is expensive is not unexpected. That is a price to pay for safe-haven status. After all, good things don't come cheap.
The writer is head of research, Savills Singapore
Why Invest in V on Shenton?
- Prestigious address well-known all over the world - Living in the heart of world–renowned financial center, Casino,
- Venue of F1 and entertainment areas.
- Easy accessibility to all parts of Singapore and Aiport
- Designed by well-known architects: UN Studio & Architect 61
- Rare and Good Return On Investment in the Future Capital
- Appreciation with development of Gardens By The Bay
- Venue of F1 and entertainment areas.
- Easy accessibility to all parts of Singapore and Aiport
- Designed by well-known architects: UN Studio & Architect 61
- Rare and Good Return On Investment in the Future Capital
- Appreciation with development of Gardens By The Bay
Saturday 2 June 2012
5 ON SHENTON WAY
New launch soon!
CALL JOANELLE at 97928051
EMAIL: joanelletan.atm@gmail.com
Don't miss this investment please!!!
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