Returns On Singapore Rental Yield At Levels Not Seen For Almost 12 Years.
Singapore property market is seeing a confluence of factors which has resulted in rental yields not seen for almost 12 years.
Singapore (I-Newswire) August 11, 2012 - Singapore property market is seeing a confluence of factors which has resulted in rental yields not seen for almost 12 years. Overall gross yields is about 3.8 per cent in March 2012, unchanged from December 2011. Apart from a slight dip in September 2011, where yields was about 3.7 per cent, rental returns have not seen this level since December 2000.
A confluence of factors have resulted in the current phenomenon in the rental yields. Prices of Singapore condominium
and Singapore apartment have seen a steady upwards climb in recent years. In addition, new supply of recently completed properties are adding more supply to the Singapore property market. These factors have resulted in an adjustment in rental yield.
Returns on rental yield vary across the island. While mass market properties enjoy slightly higher yield of 5 per cent, some inner city apartments are seeing only 1.9 per cent returns. Inner city homes are probably affected by the economic turbulence in Europe. Some firms have implemented cost cutting measure which has dampened demand for expensive rental homes. Generally, while gross yields may have seen adjustments, net yields have remained fairly stable as interest rates stayed at record low levels.
High yielding properties are mostly 99 years leasehold properties in the mass market districts where capital values are lower. Within these mass market districts, there are still a handful of mass market properties that yield 5 per cent or more.
With Singapore’s economy at full employment, and a generally optimistic economic growth prospect, Singapore property remains a good bet for investment in the future.
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Published On:August 11, 2012
Print Release:Print Release
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