28 May '14, 12pm

New: Singapore Property News This Week #157

The Ministry of Trade and Industry (MTI) revealed in the latest Economic Survey of Singapore that the recent increase in rent prices observed is in line with inflation over retailers’ lease period. Not only so, for 25 per cent of retailers who renewed their leases last year, there was no increase in rents; in fact, some even renewed their leases at a lower rent. MTI refuted speculations that retail rents have been pushed up by real estate investment trusts. However, property market watchers and small and medium sized enterprises that The Business Times spoke to were unconvinced. The median cumulative increase in rental in 2013 was 5.5 per cent and 75 per cent of the leases were renewed at rental increases of 14 per cent or less. On average, rents doubled or more than doubled in one per cent of the 2,100 leases renewed each year, according to MTI.

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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