Latest Market News

Condos hit the sweet spot, even without a tennis court

Saturday 6 February 2010

Tokyo, Hong Kong and Singapore remained the three most expensive office locations in the Asia- Pacific in the fourth quarter of 2009, according to a report from Colliers International.

But Grade A office rents in Singapore suffered the biggest fall in 2009 across all Asia-Pacific markets tracked. Rents here slid 46.2 per cent from Q4 2008, Colliers says in its latest Asia-Pacific office market overview.

Rents fell 24.2 per cent year on year in Hong Kong and 19.5 per cent in Tokyo.'Because of the steeper fall in Singapore, the gap in rents between Singapore and Tokyo and Hong Kong widened to 88.5 per cent and 46.7 per cent respectively in Q4 2009,' said Colliers' director of research and advisory Tay Huey Ying.

Source: The Business Times