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☆ Singapore and Lisbon top ranking of the cities with the biggest surge in prime rents
  + stars: | 2023-07-20 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +1 min
Private apartments are seen against the backdrop of the Marina Bay Sands hotel and the Singapore Flyer observatory wheel in Singapore on March 23, 2022. Rents in prime residential areas increased the most in Singapore, Lisbon and Berlin in the first half of the year, according to a new research report by real estate services company Savills. Data from the British company showed prime rents in Lisbon surged the most by 13.9% from Dec 2022 to June 2023, followed by Singapore at 13.6% and 9.2% for Berlin during the same period. The increase in Berlin's prime rents was, however, due to an influx of rich residents, the research said. The significant hike in Singapore's prime rents was due to construction delays during the Covid-19 pandemic.
Persons: Savills, Alan Cheong, Cheong Organizations: Singapore Flyer, Savills Research, Consultancy Locations: Marina, Sands, Singapore, Lisbon, Berlin, British
☆ Singapore rent prices are still sky-high. Long-time expats are having to consider drastic changes
  + stars: | 2023-04-13 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +7 min
If rents continue to grow steadily, more residents will bite the bullet and purchase a property before paying higher prices for rent, Knight Frank's Christine Li said. Whether one's renting a room, an apartment or a house, long-time expatriates living in Singapore are digging deep into their pockets and making drastic changes to cope with rising rents. Some foreigners living here say their landlords may be taking advantage of an overheated property market to jack up prices — with some doubling the rent. "If rents continue to grow steadily, more people will just bite the bullet and purchase a property before paying higher prices for rent," she said. Justin Paget | Stone | Getty ImagesFrancesca said many potential landlords offered her "rent free deals" to convince her to agree to higher prices — that essentially translates to no rent for the first few months.
☆ Singapore's mortgage costs are rising — but some buyers are shrugging off higher rates
  + stars: | 2022-10-27 | by ( Abigail Ng | ) www.cnbc.com   time to read: +6 min
The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC. Ore Huiying | Bloomberg | Getty ImagesSINGAPORE — The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC. Singapore's real estate market is backed by wealth, according to Christine Li, head of Asia-Pacific research at Knight Frank. Demand driversHowever, it doesn't mean the residential property market ignores rising rates and looming risks, said Alan Cheong, executive director of research and consultancy at Savills. "However, past trends indicate that our property market is highly resilient and usually rebounds within six months of a cooling measure," she said.
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