North Gaia EC The Urban Land Institute (ULI) predicts a rapid economic recovery in the Hong Kong, Singapore, China and Japan real estate markets over the next three years. “We are confident that the Asia Pacific real estate industry is ready to revive in 2022 and will continue to gain momentum in 2023, which is a cross-border business in a broader border reopening. We can see a strong economic outlook underpinned by the possibility of resumption, “said David Forkner, President of ULI Asia Pacific. In the latest biannual real estate economic forecast report for the Asia-Pacific region, the non-profit research institute says that Singapore’s office occupancy is expected to decline slightly in 2022 compared to Hong Kong, Shanghai and Tokyo. It states that it may increase in 2023. Office rents in Singapore’s 4,444 could rise between 4.6% and 5% over the next two years. Singapore’s office market is also leading the region, with office rent yields expected to rise 9.65% in 2022, but more modest in 2023 and 2023 after a slight rise the following year. Leading 6.75%. The logistics industry can continue to suffer from a structural shortage of high quality assets. This is done in high demand due to the rapid growth of the e-commerce sector. However, capitalization rates remain strong this year, with Hong Kong at 3.46%, Singapore at 6.15%, Shanghai at 5% and Tokyo at 3.5%. ULI also expects North Gaia Floor Plan retailers to face a sharp decline this year as well, with the pandemic contained and the travel ban relaxed, which could lead to a gradual recovery over the next two years. In Singapore, retail rent could rise by 1.5% in 2023. Singapore’s new home sales increased 9% in October to 909 units, up 39% year-on-year. Singapore’s private home sales fell 9% from 834 units in September to 909 units in October after declining twice a month in a row. To delay the spread of Covid19, the government has imposed restrictions on viewing in exhibition galleries and caps on the number of visitors. Christine Sun, Senior Vice President of Research and Analytics at OrangeTee & Tie, said: Including the EG, new home sales fell 19.4% last month to 1,045 units. However, despite declining sales, October’s monthly sales (including e-commerce) were the highest in five years, demonstrating “real estate market resilience,” Sun said. Compared to the previous year, new sales (including EC) increased by 50.6%. In the first 10 months of this year, an estimated 10,918 new homes were sold. This means that a total of 9,982 units were sold in 2020. The Out-of-Central Region (OCR) recorded 38.2% of total North Gaia Price revenue (excluding EC), followed by the rest of the Central Region (RCR) and the Core Central Region (CCR) at 30.9%. “Some CCR home developers are updating their marketing efforts as Singapore gradually relaxes travel restrictions and allows more foreign buyers to come to Singapore,” a study by ERA Realty Network. And Nicholas Mak, Head of Advisor, said. “The CCR project could also get the buyer’s attention as the inventory of unsold units in suburban housing projects is gradually declining,” he adds. The Jervois Mansion was the best-selling project in October, with one of the 104 deployed units almost sold out at an average price of $ 2,553psf. This follows Normanton Park, which sold 73 units at an average price of $ 1,839. “The attractive price of Jervois Mansion, less than 2,800 psf for new calls in District 10 and its vast land area, could attract buyers,” said Tricia Song, CBRE’s Director of Southeast Asian Studies. I am saying. “The strong sales of Jervois Mansion show strong demand for affordable units in prime locations. Its median absolute median of $ 2.1 million is the median of new units traded in District 10 in 2021. Buyers are drawn to attractive North Gaia Showflat prime locations near the city and Orchard Road, “said Ontech Hoi, Senior Director of Research and Consulting at JLL. In the EC segment, Parc Greenwich sold 84 additional units at an average price of US $ 1,251psf. Notable deals in October include the penthouse unit of Shintoku’s ultra-luxury Les Maisons Nassim project. The project sold for $ 75 million in October, or 6,210 psf, making it the most expensive new vacant home since 2011. The song observed a psf base when the two units were sold for $ 20.54 million ($ 6650) and $ 19.2 million ($ 6215) at Patterson Hill’s Marc. Demand exceeds supply. The real estate market is expected to remain strong Private real estate demand has outstripped supply in all segments of the market, Song added. The number of unsold vehicles (excluding EC) decreased from 7,233 units in January to 4,725 units in October. OCR recorded the most significant decrease of 49.7% from 2,762 units to 1,388 units. On the other hand, in RCR, the number of imported vehicles decreased by 48.6% from 3,073 to 1,578 during the same period. The 4,444 consultants expect a vibrant market in November and December, with several North Gaia Yishun projects scheduled to begin this year. This includes Commodore, Canning Hillpia, and Cairn Hill 16, which are included in URA OCR, RCR, and CCR, respectively, Mak says. Forest, a residential complex of 137 units in Geylang, is also scheduled to go live in the fourth quarter of 2021. “As more countries participate in Singapore’s Vaccinated Travel Lane (VTL) program, recovery in overseas demand could increase developer sales, especially at CCR. In addition, Singapore becomes an endemic lifestyle. If changed, the Covid 19 curb will no longer be a headwind for developer sales, “Song emphasized. CBRE expects home prices to rise 6% to 7%, with total developer sales expected to reach 11,000 to 12,000 units for the full year.
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