21 Aug '11, 9pm

S'pore sees higher direct real estate transactions in Q2: SINGAPORE - Direct real estate transaction volumes ros...

SINGAPORE - Direct real estate transaction volumes rose 225 per cent year-on-year (y-o-y) in the second quarter of this year to US$2.2 billion (S$2.7 billion). According to Jones Lang LaSalle's (JLL) Asia Pacific Capital Markets Bulletin, this was boosted by double-digit growth in the financial services sector which continued to drive gross prime Raffles office rents up 1.5 per cent over the previous quarter, even with significant supply coming on-stream. On a quarterly basis, direct real estate transactions fell 44.4 per cent, quarter-on-quarter (q-o-q) and was attributed to seasonal reasons. JLL also noted that strong tourist arrival growth was the main driver in the prime Orchard retail markets with gross retail rents up 0.8 per cent q-o-q. Capital values in both markets grew faster than rents, leading to yield compression in both markets. Prime yield movement for the o...

Full article: http://www.todayonline.com/Business/EDC110822-0000193/Spo...

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