The main point which we get to think about doing House valuations for insurance purposes is when we decide to sell the property in the real estate field. At that time we remember that what cost will we get on the property and then we think that conducting the process of property valuation is the best option to know the price of the property.
This is evident in massive job cuts recently in the local and foreign banking industry (e.g. UOB-OUB and OCBC-KeppelTatLee) as a result of consolidation resulting from mergers or restructuring. Capital values are also expected to decline further in line with the decrease in rentals and the increase in yields. Capital values are also expected to decline further in line with the decrease in rentals and the increase in yields.
This is also reinforced by the acute need to improve yields if plans to launch an office property trust in Singapore are to materialize.Net take-up was a negative 19,000 sm (approx. 205,000 sf) in 4Q 2001, down slightly from the negative 21,000 sm (226,000 sf) recorded in 3Q 2001. As a result, the occupancy of retail shops islandwide slid half a percentage point to around 92% in 4Q 2001. In the Orchard Road area, occupancy dropped to 95.9% in 4Q from 96.7% recorded in the previous quarter. To date, two of the sites have been launched for sale by tender.
These include a ‘white’ site at Marina Boulevard (reserve list) and the current Waterboat House site at Fullerton Road/Esplanade Drive.