The more affordable rentals are in this Aussie city, and more news

For PropertyGuru’s real estate news roundup, Australia’s rental market has changed so much over the past five years; you’ll be surprised which city has the more affordable rentals. In other headlines, Singapore’s total investment sales value is projected to be about SGD23 billion this year, despite the performance of interest rates. Lastly, the Metro Manila office market is expected to see new entrants from the healthcare and banking sectors this 2025.

The surprising city in Australia emerging as a rental affordability hotspot

Rapid rent growth driven by minimal availability amid strong demand has made conditions very challenging for renters for the past few years. But, as PropTrack reports, some positive signs are emerging, with rent growth finally starting to slow. While this is good news for renters, it’s also useful to step back and look at just how much the rental market has changed over the past five years, and how much more challenging renting has become. In 2019, 14 percent of these more affordable rentals were located in Perth. Today, that picture has changed radically. Those more affordable markets – regional areas, Perth, Adelaide, Brisbane – have seen such rapid growth in rents. What that means is that today, far more of the country’s more affordable rentals are in Melbourne, which hasn’t seen as strong growth as other parts of the country.

2025 forecast for total investment sales to be SGD23B – Savills Singapore

Singapore’s sales volume of investment deals in 2024 increased to SGD26.61 billion, up from SGD19.65 billion in 2023. According to RETalk Asia, this represents a significant year-on-year (YoY) growth of 35.4 percent. Notable yearly increases were observed across all asset classes, ranging from 12.1 percent to 133.1 percent. Investment momentum in the private sector has been reignited, backed by the availability for sale of investible core assets and better-than-expected economic growth. This and higher proceeds from the sale of GLS lands have collectively contributed to the strong showing in 2024. Investment sales in the residential sector continued to decline for the second consecutive quarter in Q4/2024, down 24.3 percent QoQ to SGD2.41 billion. Savills Research projects total investment sales value to be about SGD23 billion this year, despite the performance of interest rates.

Healthcare, banking firms to boost office demand in Manila — CBRE

The Metro Manila office market is expected to see new entrants from the healthcare and banking sectors this year, according to real estate services and investment firm CBRE. “In this kind of market where we’re coming off a slow year, it’s encouraging that we’re seeing new entrants into the market,” CBRE Philippines Country Head Jie C. Espinosa said to BusinessWorld during a briefing last week. He said industries seeking office space this year include healthcare, banking, financial services, and insurance. “They want to enter and be in spaces that are predictable, less risky for them, and where they can readily start their operations,” Mr Espinosa noted, adding that these firms aim to start within four to six months.

The Property Report editors wrote this article. For more information, email: [email protected].