Sunday, February 12, 2012

Change of focus for property investors

Straits Times: Sat, Feb 11
THINK of property investment, and most people think of residential properties.

But more individuals and investors are being drawn to industrial and commercial properties as an alternative place to park their investment cash.

This growing group of buyers accounted for up to half of sales at some newly launched commercial projects.

One factor may be that these purchases are exempt from the recently announced additional buyer's stamp duty, though other charges apply.

Not surprisingly, business operators still make up the bulk of buyers of factories and other commercial and industrial property but investors are showing more and more interest.

For example, at Primz BizHub, an industrial project in Woodlands, The Straits Times understands investors account for 30 per cent of the sales.

More than 150 of the project's 380 factory units have been snapped up since marketing of the project started early last month, with units transacting at an average price of $390 psf.

Units range in size from 926 sq ft to 2,590 sq ft, with the smallest 926 sq ft unit costing $351,880.

Paya Lebar Square has seen investor interest inch up since sales of its strata office units started in December last year. Investors account for 52 per cent of sales so far at the 99-year leasehold project. The rest have been bought by businesses for their own use...

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Martin Koh/ Sherry Tang
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