Residential
Residential leasing market favours tenants
More completions and tighter controls on the overseas labour workforce are reported to cause the rental market to hit turbulence. According to a report by Savills Singapore, the residential rental market is turning to favour tenants, but with strong demand still expected over the next half a year. The rental market was optimistic in the Q3 2013 with a record number of 15,083 rental transactions, which is an 11.6 percent increase from the previous quarter. This could be attributed to the 5.1 percent growth in GDP for Singapore year-on-year, lower unemployment rates, and foreign nationals planning to relocate to Singapore in light of the Fair Consideration Framework (FCF).
(Source: Business Times)
URA to clamp down use of “SoHo”
The Urban Redevelopment Authority (URA) is curbing the use of the term “small office home office” (SoHo) for commercial and residential units by developers. ...
