Singapore Real Estate
Singapore private home prices down 0.4 % qoq in Q2: URA flash estimate
Overall prices of private home prices in Singapore fell 0.4 per cent in the second quarter of this year over the previous quarter, based on a flash estimate released by the Urban Redevelopment Authority’s (URA) on Monday (Jul 3).
https://www.businesstimes.com.sg/property/singapore-private-home-prices-down-04-qoq-q2-ura-flash-estimate
https://www.todayonline.com/singapore/singapore-private-home-prices-fall-first-time-3-years-ura-flash-estimates-2203731
https://www.channelnewsasia.com/singapore/singapore-private-home-prices-fall-ura-flash-estimates-second-quarter-2023-3601881
https://www.scmp.com/news/asia/southeast-asia/article/3226339/singapore-home-prices-ease-slightly-first-time-pandemic-began-public-housing-posts-more-gains
URA launches Marina South, Media Circle sites for sale
The first “white” site in the Marina South precinct is up for tender, along with a plot for housing along Media Circle in the Buona Vista area. The two sites are the last two to be launched for sale under the government land sales (GLS) programme’s confirmed list for the first half of 2023.
https://www.businesstimes.com.sg/property/ura-launches-marina-south-media-circle-sites-sale
https://www.channelnewsasia.com/watch/developers-taking-cautious-approach-bids-sites-cbd-analysts-video-3601316
https://www.edgeprop.sg/property-news/ura-launches-development-sites-marina-gardens-crescent-and-media-circle-tender
Lakeside Towers relaunched for en bloc sale with unchanged S$350 million reserve price
Owners of Lakeside Towers are trying for an en bloc sale again with an unchanged reserve price of S$350 million, two months after the previous tender closed without a successful offer. Citing “healthy residential market conditions and the owners’ confidence in a resulting sale”, sole marketing agent JLL said the collective sale committee moved to launch a second tender.
https://www.businesstimes.com.sg/property/lakeside-towers-relaunched-en-bloc-sale-unchanged-s350-million-reserve-price
https://www.edgeprop.sg/property-news/lakeside-towers-collective-sale-relaunched-350-mil-reserve-price
Singapore home to more than half of Asia’s family offices: report
More than half of the family offices in Asia are estimated to be located in Singapore, said KPMG Private Enterprise and family office consultancy Agreus in a report. Some 9 per cent of the world’s family offices are located in Asia, of which 59 per cent are in Singapore, indicated the 2023 Global Family Office Compensation Benchmark Report.
https://www.businesstimes.com.sg/international/global/singapore-home-more-half-asias-family-offices-report
HDB resale volumes fall to three-year low in Q2; prices rise 1.4%
Housing and Development Board (HDB) resale flat volumes declined 4.6 per cent year on year to 6,409 flats in the second quarter of 2023. This was the lowest in the last three years since Q3 2020, according to flash estimates released on Monday (Jul 3).
https://www.businesstimes.com.sg/property/hdb-resale-volumes-fall-three-year-low-q2-prices-rise-14
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-up-14-in-q2-but-lower-than-quarter-average-in-2022-fewer-flats-sold
https://www.todayonline.com/singapore/hdb-q2-resale-prices-14-shows-moderation-rate-increase-after-cooling-measures-2203781
https://www.channelnewsasia.com/singapore/hdb-q2-resale-prices-14-moderation-rate-increase-after-cooling-measures-3601891
Singapore Economy
Britain and Singapore forge closer links, centred on emerging tech
Singapore – Britain and Singapore can combine their strengths in emerging technologies, including artificial intelligence (AI), data and quantum computing to upgrade their strategic relationship, according to British Deputy Prime Minister Oliver Dowden.
https://www.straitstimes.com/singapore/britain-and-singapore-forge-closer-links-centred-on-emerging-tech
Higher electricity bills from July to September as tariff increases by 1.2%
Singapore – Consumers in Singapore will pay more for electricity in the July-September quarter, with the tariff increasing by an average of 1.2 per cent from the previous quarter.
https://www.straitstimes.com/singapore/higher-electricity-bills-from-july-to-september-as-tariff-increases-by-12
https://www.todayonline.com/singapore/higher-household-electricity-and-gas-tariffs-july-september-2202666
https://www.channelnewsasia.com/singapore/electricity-tariff-sp-group-gas-july-september-singapore-3597056
Singapore ranked 6th most peaceful country in the world: Global Peace Index
Singapore has been ranked as the sixth most peaceful country in the world, and is also the highest-placed Asian country, according to a report by independent non-profit think tank Institute for Economics & Peace (IEP).
https://www.channelnewsasia.com/singapore/singapore-sixth-most-peaceful-country-global-peace-index-3597406
950,000 HDB households to receive GST Voucher rebates in July
Singapore – About 950,000 Singaporean households living in Housing Board flats will receive their quarterly Goods and Services Tax Voucher (GSTV) U-Save and service and conservancy charges (S&CC) rebates in July, the Ministry of Finance said on Friday.
https://www.straitstimes.com/singapore/950000-hdb-households-to-receive-gst-voucher-rebates-in-july
Companies’ Brief
About Kingsford Group, the top bidder for the Marina South state land site
As the state land tender for three 99-year leasehold sites closed on Tuesday (Jun 27), one developer stood out with its bids. Kingsford Group was the top bidder for a site at Marina South with a S$1.03 billion offer, and it had also bid for an executive condominium (EC) site in Tengah. Here is some background about the group and its developments.
https://www.businesstimes.com.sg/property/about-kingsford-group-top-bidder-marina-south-state-land-site
Closing date for Lian Beng offer extended to Jul 7
The closing date for the offer to take construction and engineering company Lian Beng private at S$0.68 per share has been extended further to 5.30 pm on Jul 7, from Friday (Jun 30).
https://www.businesstimes.com.sg/companies-markets/closing-date-lian-beng-offer-extended-jul-7
Global Economy & Real Estate
US consumer spending edges up in May; inflation still high
https://www.businesstimes.com.sg/international/us-consumer-spending-edges-may-inflation-still-high
Artificial intelligence companies hunt for San Francisco offices
https://www.businesstimes.com.sg/property/artificial-intelligence-companies-hunt-san-francisco-offices
Canada’s economy unchanged in April, but likely surged 0.4% in May
https://www.businesstimes.com.sg/international/canadas-economy-unchanged-april-likely-surged-04-may
Britain’s annual house prices fall most since 2009, Nationwide says
https://www.businesstimes.com.sg/property/britains-annual-house-prices-fall-most-2009-nationwide-says
Sunak mulls rescinding EU-era water law to build more homes
https://www.businesstimes.com.sg/property/sunak-mulls-rescinding-eu-era-water-law-build-more-homes
UK’s Barratt looks to boost revenue with £168.4 million homes sale deal with Citra
https://www.businesstimes.com.sg/property/uks-barratt-looks-boost-revenue-ps1684-million-homes-sale-deal-citra
Canary Wharf’s owners can’t walk away as easily as HSBC
https://www.businesstimes.com.sg/property/canary-wharfs-owners-cant-walk-away-easily-hsbc
UK economic growth unrevised at 0.1% in Q1 2023
https://www.businesstimes.com.sg/international/uk-economic-growth-unrevised-01-q1-2023
UK seeks to ease inflation hit from planned Brexit border checks
https://www.businesstimes.com.sg/international/uk-seeks-ease-inflation-hit-planned-brexit-border-checks
Eurozone core inflation accelerates again in setback for ECB
https://www.businesstimes.com.sg/international/eurozone-core-inflation-accelerates-again-setback-ecb
Sweden sees smaller drop in GDP this year, less growth in 2024
https://www.businesstimes.com.sg/international/sweden-sees-smaller-drop-gdp-year-less-growth-2024
Swiss chalets become target amid east Europe’s property woes
https://www.businesstimes.com.sg/property/swiss-chalets-become-target-amid-east-europes-property-woes
Australian commodities exports surge to record US$300 billion, but set to tumble
https://www.businesstimes.com.sg/international/australian-commodities-exports-surge-record-us300-billion-set-tumble
Australia’s budget surplus swells, cuts borrowing needs
https://www.businesstimes.com.sg/international/australias-budget-surplus-swells-cuts-borrowing-needs
Australian home prices climb for fourth month in June
https://www.businesstimes.com.sg/property/australian-home-prices-climb-fourth-month-june
Asia’s factory output slumps as weak China demand weighs
https://www.businesstimes.com.sg/international/global/asias-factory-output-slumps-weak-china-demand-weighs
https://www.channelnewsasia.com/business/asias-factory-output-slumps-weak-china-demand-weighs-3601971
China’s June factory activity slows as conditions weaken: Caixin PMI
https://www.businesstimes.com.sg/international/global/chinas-june-factory-activity-slows-conditions-weaken-caixin-pmi
China new home prices edge down in June for second consecutive month
https://www.businesstimes.com.sg/property/china-new-home-prices-edge-down-june-second-consecutive-month
https://www.channelnewsasia.com/business/china-new-home-prices-edge-down-june-second-consecutive-month-3599571
China’s home sales by top developers plunge in warning sign
https://www.businesstimes.com.sg/property/chinas-home-sales-top-developers-plunge-warning-sign
Hong Kong’s Urban Renewal Authority finishes first transitional housing site, more than 400 low-income families to enjoy better sunlight, ventilation
https://www.scmp.com/news/hong-kong/society/article/3226296/hong-kongs-urban-renewal-authority-finishes-first-transitional-housing-site-more-400-low-income
Henderson Land’s Kai Tak flats snapped up by young buyers, with 70 per cent of units sold ahead of interest rate hikes
https://www.scmp.com/business/companies/article/3226231/henderson-lands-kai-tak-flats-snapped-young-buyers-70-cent-units-sold-ahead-interest-rate-hikes
Hong Kong property: plot of land for flats in Kennedy Town fetches just 6 bids as high interest rates, market gloom deter developers
https://www.scmp.com/business/article/3226163/hong-kong-property-plot-land-flats-kennedy-town-fetches-just-6-bids-high-interest-rates-market-gloom
Hong Kong retail property segment cashes in as mainland Chinese tourists return to spend on luxury, dining out
https://www.scmp.com/business/article/3226097/hong-kong-retail-property-segment-cashes-mainland-chinese-tourists-return-spend-luxury-dining-out
Japan’s land prices rise for second year running in 2022: tax agency
https://www.businesstimes.com.sg/property/japans-land-prices-rise-second-year-running-2022-tax-agency
https://www.channelnewsasia.com/business/japans-land-prices-rise-second-year-running-2022-tax-agency-3601916
Japan business sentiment improves in Q2 – BOJ tankan
https://www.channelnewsasia.com/business/japan-business-sentiment-improves-q2-boj-tankan-3601826
https://www.businesstimes.com.sg/international/japan-business-sentiment-improves-second-quarter-boj-tankan
Japan factory activity slips back into contraction in June on soft orders
https://www.channelnewsasia.com/business/japan-factory-activity-slips-back-contraction-june-soft-orders-3601836
https://www.businesstimes.com.sg/international/japan-factory-activity-slips-back-contraction-june-soft-orders
South Korea export downturn slows, trade balance swings to surplus
https://www.channelnewsasia.com/business/south-korea-export-downturn-slows-trade-balance-swings-surplus-3599396
South Korea factory activity suffers longest downturn in at least 19 years
https://www.channelnewsasia.com/business/south-korea-factory-activity-suffers-longest-downturn-least-19-years-3601841
https://www.businesstimes.com.sg/international/south-korea-factory-activity-suffers-longest-downturn-least-19-years
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