DAILY MARKET UPDATES 29th September 2008

Cheap Properties Galore in Geylang
Some of Singapore's best condo buys lining the streets off Geylang Road. The low prices mean that rental yields can 'easily hit 7 per cent', compared to average of 2 per cent to 4 per cent for most homes in S’pore. The more popular homes are those further removed from Geylang Road: nearer Aljunied MRT Station to the north, and around Guillemard Road to the south. These areas are favoured by big-name developers such as CapitaLand and Far East Organization, which jointly developed Central Grove near Aljunied MRT Station. Along Lorong 20, the newly completed Sunflower Regency is fetching around $550 psf. Down the road, Cosmo in Guillemard Crescent, lying just outside Geylang proper, was sold out at an average price of about $1,100 psf when it was launched in April. A few streets west of that, Wing Fong Court and Wing Fong Mansions are hovering at about $400 psf.
- The Sunday Times, Invest P30
(See attachment; “Geylang Developments”)
Grade A Office Rents Slide for a First time
The average gross monthly Grade A rental value for the Raffles Place area slipped 1.4 per cent to $17.64 per square foot (psf) in the third quarter, from $17.89 psf in the preceding quarter, according to the latest data from Knight Frank. The Suntec/Marina Centre/City Hall area led the declines in Grade A office rentals in Q3, with a 6.2 per cent quarter-on-quarter fall to $15.13 psf. In the Shenton Way/ Robinson Rd/Tanjong Pagar area, the drop was 2.8 per cent, followed by a 2.7 per cent decline along Orchard Road. Knight Frank's data showed that Grade B offices in Singapore also experienced downward pressure on rentals in Q3. The biggest fall was in the Orchard Road location, where the average rent decreased 7.8 per cent quarter-on-quarter to $10.70 psf a month in Q3. Raffles Place and Shenton Way/ Robinson Rd/Tanjong Pagar Grade B offices were less impacted by easing office rentals and dipped by 1.8 per cent and 2 per cent quarter-on-quarter respectively.
- The Business Times, P4
(See attachment; “Grade A Offices SG”)
SM Goh Optimistic about Economy over the next Two Quarters
Senior Minister said that these external investments should keep Singapore ticking even as financial turmoil in the US threatens global growth as well as individual Singaporeans. Chinese and Singapore consortiums behind the Tianjin eco-city project said that bids have been selected to develop commercial and residential plots in an initial 110 hectare area of the eventual 30 square kilometre eco-city. Tenders for business park land will be open soon and Chinese and Singaporean developers are said to be interested. Infrastructure for a four sq km start-up area is expected to be completed by the end of next year.
- The Business Times, P12
Japan’s Inflation stays at a 10-Year High in August
Core consumer prices rose 2.4 per cent from a year earlier, up for an 11th straight month, the government said. Rising energy and material costs are starting to push up the cost of other goods and services, which analysts said could prompt consumers to tighten their purse strings as the economy skirts recession. Core inflation in Tokyo, a leading indicator released a month earlier than the figures for the whole of Japan, rose to 1.7 per cent in September from 1.5 per cent in August, the government reported.
- The Business Times, P17
Leonie Parc View
- Freehold
- Expected completion : Dec 2014
- One tower, units from 4th to 29th flr
- 4-bedroom (2,012 – 2,250 sq ft)
- Penthouse (2,905 – 3,850 sq ft)
- Sky Villa units (6,975 sq ft)
- Managed through Private Investment Banking Managers
- Developer: SoilBuild
- Address: 22 Leonie Hill Road
-The Business Times, P13 - advertisement

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