Prices of Strata Titled Offices In Singapore Rises, Occupancy Up For Prime Office Space.
Demand for prime office space in the third quarter up while Interest from new strata titled office projects has led to spillover effect that pulled up resale prices of strata office units.
Singapore (I-Newswire) October 12, 2012 - 
Demand for prime office space in the third quarter up while Interest from new strata titled office projects has led to spillover effect that pulled up resale prices of strata office units.
The influx of legal firms, insurance companies and other business, less traditional tenants to Grade A office space has managed to prop up demand for such prime office space. The need for more office space from traditional tenants such as financial institutions has gone down due to the euro-zone debt crisis and the uncertain economic recover in US. As a result, rents have eased slightly while occupancy is up for prime office space.
Prices of strata tilted offices in Singapore have also risen recently, driven mainly by interest from new strata titled office projects which has led to spillover effect that pulled up resale prices of strata office units. The shortage of new office space has forced buyers to look at older developments.
In the first six months of 2012, there was high sales activity for strata titled office units mostly due to new launches such as PS100, Oxley Tower and Eon Shenton.
New launch mixed developments such as Oxley Tower and Eon Shenton, both located in the prime business districts of Singapore still have small number of office units available. Oxley Tower is freehold mixed development project comprising of office units and shops. While Eon Shenton is 99 years leasehold mixed development comprising of shops, offices and residential units. Both projects have attracted strong interest in their initial launch with shop units being the hottest in demand. Buyers looking to invest in Singapore property can consider these two projects given their prime location and limited supply.
Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.
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October 12, 2012Print Release:
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