20 Jun '14, 6am

Updated Post: Prime rents declining: JLL

The average rental of prime residential units in Q2 2014 declined at a similar pace as the previous quarter, easing by 2.4 percent quarter-on-quarter to $4.09 psf per month, according to JLL’s statistics for the second quarter of 2014. The luxury sector saw rents falling at a faster pace of -2.8 percent quarter on quarter while the typical prime market recorded a decline of -2 per cent quarter-on-quarter. Dr Chua Yang Liang, Head of Research, South East Asia says, “Companies continue to trim expatriate packages, with the leasing demand from the financial sector most noticeably affected.” In 2013, average prime rental values were mostly stable before easing in the last quarter, but they have dropped -4.7 per cent in the first half of 2014 and Dr Chua expects a gradual decline for the rest of the year. The report says TDSR framework has softened market sentiments and activit...

Full article: http://blog.propertyguru.com.sg/12281/prime-rents-declini...

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