A Business Times Article reported "SINGAPORE has emerged as the world's fifth most expensive location for industrial property occupancy costs in the latest 2009 ranking by Cushman & Wakefield, up from 12th position in the 2008 ranking"
The article quoted Cushman & Wakefield Singapore managing director Donald Han saying: 'Singapore's rise up the world ranking is partly due to countries which used to be more costly moving down. In terms of rental growth, Singapore remained stable in 2008.
The article noted that Singapore's economy is export driven so forecast for he next 12 months is a dramatic reduction in demand. This reduction will no doubtly effect costs.
The next 9 to 12 months will definitely be something to watch in all segments of the property market. Articles in the past have sited take rates as steady but near the mid part of 2009 there will be several projects that will be releasing their units to their buyers which in turn will flood the market with rentals and sales. Keep your eyes open, the deals are coming!!!
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