According to a recent quarterly report given by an international property consultant, the top priority for the 3rd Quarter for industrialist seems to be cost concerns, which has caused stagnant rents, less leasing transactions and strata-titled Hong Leong Holdings Condo sales that are lower as a result.
Corporate real estate agendas of tenants continue to show cost containment being at the fore when they are assessing their space requirements. As a result, the amount of leasing deals has been affected, which then put pressure on Lorong Lew Lian Condo CDL rents. A consultant of the firm who ran the report also pointed out that landlords were taking on a more flexible approach in the negotiation process for Lorong Lew Lian Condo Hong Leong.
Cost Concerns in City Developments Limited Condo
Going by the URA’s most recent Lorong Lew Lian Condo report on rental records from October 15th, a fall in the amount of leasing deals, which included business park, warehouse and factory premises, was seen from 2015’s 2nd Quarter figure of 2,392 to 2,081 in 2015’s 3rd Quarter in Upper Serangoon Condo.
This occurred alongside a general alleviation of Serangoon Condo rents. The segment for space in prime conventional factories showed a gross monthly rental average easing by a further 0.4% quarter on quarter to $2.51 per square foot, and a further 1% for upper and ground level spaces quarter on quarter to $2.02 per square foot. Yet the CDL Serangoon Condo figure for space in upper levels dropped a further 1% to $1.90 quarter on quarter.
Concurrently, Hong Leong Holdings Condo space showed monthly gross rents averages easing island-wide by 0.2% quarter on quarter to $4.16 per square foot for 2015’s 3rd Quarter. Nevertheless, independent high-spec industrial developments that are situated outside of the business and science parks showed the average gross monthly rent staying stable with last quarter’s figure at $3.31 per square foot for spaces at ground level and $3.13 for spaces on upper levels.
Lorong Lew Lian Condo Serangoon Road
Where the Lorong Lew Lian Condo CDL sector is concerned, initial Lorong Lew Lian Condo Hong Leong caveat records have shown a drop in the amount of lodged caveats from its 2015 2nd Quarter figure of 289 to 176 for this years 3rd Quarter, a figure that is the lowest in quarterly sales to be seen since 2008’s 4th Quarter recorded caveats of 177 and 2009’s 1st Quarter figure of 132. Despite the contrary, Serangoon CDL Hong Leong Condo sellers in general are still sticking with their expectations regarding pricing for 2015’s 3rd Quarter. There are some owners who have been seen to have a bit more Serangoon CDL Condo holding power, such as those with prime conventional freehold industrial properties, and as a result did not feel inclined to lower their asking prices. It was due to this that assisted the average capital values of properties such as these to stay steady for 2015’s 3rd Quarter.
Also holding as stable at the prior quarter’s level were prime conventional freehold factory spaces’ capital values on average for upper and ground floors, holding at $735 per square foot for upper floors and $863 for ground floors as of 2015’s 3rd Quarter. There was no change in the average capital values for conventional prime freehold warehouse space in Lorong Lew Lian Condo Nex Shopping Centre and Serangoon Bus Interchange, which has remained as such for 7 quarters in a row, with premises at ground level being at $661 per square foot and premises on upper levels being at $587 per square foot as of 2015’s 3rd Quarter.
Lorong Lew Lian Condo by CDL
The forecast for conventional multi-user prime industrial space rents believe there will be a further drop of around 1%in 2015’s last quarter, and a smaller rate of decline being experienced by rents in the business park sector such as was witnessed in 2015’s 3rd Quarter. Nonetheless, independent industrial premises that are considered high-spec may continue to stay stable for the remainder of 2015 astride a supply that is limited.
It is also expected that the segment for strata-titled sales will show activity that remains low, as a result of buyers taking on a more selective attitude with purchases they make. Notwithstanding, it is projected that conventional industrial prime freehold property will remain steady, due to a majority of owners being unlikely to ease off on their asking price, preferring to lease their properties out instead