DAILY NEWS

Daily News – 12 April 2022 (Tue)

Singapore Real Estate

Condo resale volumes rebound, up 35.6% in March: SRX, 99.co
Condominium resale volumes rebounded in March 2022 after slipping in February, while prices continued upward for the 20th straight month. Some 1,302 resale units changed hands March 2022, 35.6 per cent higher than the 960 units resold in February 2022. Year on year, volumes were 31.4 per cent lower but 7.8 per cent higher than the 5-year average volumes for March.
https://www.businesstimes.com.sg/real-estate/condo-resale-volumes-rebound-up-356-in-march-srx-99co
https://www.straitstimes.com/business/property/condo-resale-volume-rises-356-in-march-after-falling-for-6-months-prices-up-08

Singapore private home sales to rise in the coming months: analysts
Developer sales increased in March as home buyers are “coming to grips” with cooling measures, according to analysts. The growth also came as the Lunar New Year seasonal lull passes.
https://www.businesstimes.com.sg/real-estate/singapore-private-home-sales-to-rise-in-the-coming-months-analysts-0

CBD office rents continue northwards, underpinned by healthy demand: Colliers
CBD (Central Business District) Premium and Grade A office rents rose for the third consecutive quarter, growing 1.5 per cent quarter on quarter in Q1 2022 to S$10.26 per square foot (psf), making it the fastest pace of growth since rents’ reversion in Q3 2021, said investment management firm Colliers on Monday (Apr 11).
https://www.businesstimes.com.sg/real-estate/cbd-office-rents-continue-northwards-underpinned-by-healthy-demand-colliers

Mountbatten Road conservation bungalow up for sale with S$27m guide price
A freehold conservation bungalow at 759 Mountbatten Road in District 15 has been launched for sale with a guide price of S$27 million or S$1,295 per square foot. Originally built in the 1920s, this colonial Victorian style bungalow sits within the Mountbatten Road Bungalow Conservation Area on a 20,847.54 square foot site.
https://www.businesstimes.com.sg/real-estate/mountbatten-road-conservation-bungalow-up-for-sale-with-s27m-guide-price
https://www.straitstimes.com/business/property/mountbatten-road-conservation-bungalow-up-for-sale-with-27m-guide-price

Sentosa-Brani plan to be refreshed as project’s first milestone hits delay
Singapore’s Sentosa-Brani Master Plan is the latest mega-project to experience delays from the Covid-19 pandemic, after the first project milestone in the resort island’s medium- to long-term transformation blueprint hit a snag with construction, The Business Times has learnt.
https://www.businesstimes.com.sg/government-economy/sentosa-brani-plan-to-be-refreshed-as-projects-first-milestone-hits-delay
https://www.straitstimes.com/singapore/consumer/impact-of-covid-19-on-sentosa-brani-plans-to-be-studied

Landed homes: a dying breed with well supported values
Singapore may be a young nation, but there are families here who have passed down huge fortunes through the generations. Recently, the descendants of property magnate and hotelier Wee Thiam Siew, who passed away in 1972, sold freehold land plots that housed 5 bungalows and 10 pairs of semi-detached houses along Thiam Siew Avenue in the Katong area for S$815 million.
https://www.businesstimes.com.sg/real-estate/landed-homes-a-dying-breed-with-well-supported-values

Singapore Economy

MAS may opt for aggressive tightening to tame inflation in April meeting
The Monetary Authority of Singapore (MAS) could allow the Republic’s currency to appreciate at a faster rate in its monetary policy review later this week, although economists are not discounting the possibility it may take a more hawkish stance amid rising inflation.
https://www.businesstimes.com.sg/government-economy/mas-may-opt-for-aggressive-tightening-to-tame-inflation-in-april-meeting

Companies’ Brief

Ascott targets 150 lyf co-living properties by 2030
CapitaLand Investment Limited’s (CLI) unit The Ascott has set a target to sign 150 properties with over 30,000 units under its lyf co-living brand by 2030, the mainboard-listed property manager announced at the official opening of lyf one-north Singapore on Monday (Apr 11).
https://www.businesstimes.com.sg/real-estate/ascott-targets-150-lyf-co-living-properties-by-2030
https://www.straitstimes.com/business/ascott-launches-lyf-co-living-space-in-one-north-will-sign-150-properties-under-lyf-by-2030

ERA launches Asia-Pacific HQ at former Toa Payoh Entertainment Centre
Singapore – Real estate agency ERA launched its Asia-Pacific headquarters on Monday (April 11) in the building that used to be the Toa Payoh Entertainment Centre.
https://www.straitstimes.com/business/property/era-launches-asia-pacific-hq-at-former-toa-payoh-entertainment-centre

ESR-Reit undertakes S$38.5m redevelopment of Senoko Loop property
ESR-Reit is redeveloping its 21B Senoko Loop general industrial property into a build-to-suit, high-specification facility for existing master tenant NTS Components Singapore. The redevelopment will cost about S$38.5 million and is expected to be completed by Q1 2024, the real estate investment trust’s manager said in a press statement on Tuesday (Apr 12).
https://www.businesstimes.com.sg/companies-markets/esr-reit-undertakes-s385m-redevelopment-of-senoko-loop-property
https://www.straitstimes.com/business/companies-markets/esr-reit-undertakes-385m-redevelopment-of-senoko-loop-property

Views, Reviews, Forum and Others

The great supply chain ‘reset’ in Asia
In Asia, supply chain planning is on the precipice of a great reset. Manufacturing hubs have made South-east Asia their home for the longest time due to geographical location, regulatory and economic advantages.
https://www.businesstimes.com.sg/opinion/the-great-supply-chain-reset-in-asia

More businesses in Singapore gave back to society last year amid pandemic
Singapore – Businesses in Singapore have given more to the community in 2021, especially those in industries that did well amid the pandemic like finance, insurance and information. The Corporate Giving Study 2021, commissioned by the National Volunteer and Philanthropy Centre (NVPC), reported a 15 per cent increase from 2017 in corporate giving, which can come in many forms – donations, pro-bono services and advocacy.
https://www.straitstimes.com/singapore/more-businesses-in-singapore-gave-back-to-society-last-year-amid-pandemic
https://www.businesstimes.com.sg/life-culture/corporate-giving-increases-amid-pandemic

Update on COVID-19 (Coronavirus Disease 2019) Situation

Risk of heart inflammation after Covid-19 vaccination found to be very low, says new study
Singapore – The overall risk of heart inflammation following Covid-19 vaccination has been found to be very low, affecting just 18 people per million vaccine doses. A new study published in The Lancet Respiratory Medicine confirms that the risk of myopericarditis – a condition that causes inflammation of the heart muscle – following Covid-19 vaccination is comparable to or lower than the risk following non-Covid-19 vaccinations.
https://www.straitstimes.com/singapore/risk-of-heart-inflammation-after-covid-19-vaccination-found-to-be-very-low-says-new-study

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation