Monthly Archives: January 2019
Eight condominium projects comprising of the total of 2,234 units were completed in Q4 2018, substantially driving-up the total supply by 18.9%. An additional 2,200 units were added to the supply pipeline from 6 projects, primarily within the mid-range segment. Despite the considerable increase in supply over the quarter, average prices and rental rates remained robust.
Both retail and office sectors witnessed delayed completions primarily due to hampered construction progress. Centrally-owned office stock marginally increased over the quarter, with occupancy rates staying strong at around 85,36% across the sector. The office market is beginning to see a surge in Grade B strata-title supply, particularly in decentralized locations.
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