Singapore Real Estate
New CPF rules to expand pool of buyers for older homes
The changes to CPF rules for purchasing older public and private leasehold homes will likely lift demand for such properties because the pool of buyers will widen, analysts said. Prices of older homes are also expected to stabilise as a result, with some market watchers suggesting that they could even rise.
HDB resale volume up 16.5% in April, resale prices slip 0.4%: SRX
The volume of Housing and Development Board (HDB) resale flats changing hands rose by 16.5 per cent in April from the previous month, while prices eased slightly. According to flash estimates from real estate portal SRX Property on Thursday, 1,931 resale flats were sold in April, up from 1,657 transactions in March.
5-room flat in Bukit Merah re-sold for record S$1.2m: Report
Singapore — A five-room Housing and Development Board flat in Bukit Merah was re-sold for a record S$1.2 million in April, according to a recent report by property consultancy OrangeTee & Tie. The transaction for the 112 sqm flat at Block 9A Boon Tiong Road, which has more than 90 years of lease remaining, pipped the previous record of S$1.185 million set by a 237 sqm HDB terrace house at Jalan Bahagia sold in September last year, and a five-room Design, Build and Sell Scheme flat at Boon Keng Road in January — both of which were transacted at around the same price.
Transfer of excess reserves to GIC: It’s not about tax cuts, but maximising returns
Everyone loves a tax hike delay, even more so an outright tax cut. So it was not a surprise that when the Monetary of Singapore (MAS) announced it was transferring S$45 billion from its reserves to GIC for the latter to manage, a couple of economists – presumably income-earning taxpayers – ventured to speculate that the move signalled potential cuts in taxes, and possibly a delay in the unpopular goods and services (GST) tax hike.
Ascendas Hospitality Trust Q4 DPS up 2.9%
Ascendas Hospitality Trust (A-HTrust) on Thursday posted a 2.9 per cent rise in distribution per stapled security (DPS) to 1.77 Singapore cents for the fourth quarter ended March 31. This was driven by full quarter contributions from the hotels in Korea and Japan acquired during the year. Q4 DPS was further lifted by lower net finance costs and a partial distribution of the proceeds from the trust’s divestment of the two hotels in Beijing, China, in May 2018.
OUE C-Reit Q1 DPU jumps 47.5%
OUE Commercial Reit (OUE C-Reit) on Thursday posted a distribution per unit (DPU) of 0.9 Singapore cent for the first quarter ended March 31. This was 47.5 per cent higher than 0.61 cent for Q1 2018, which was restated to include new units issued in October 2018. Gross revenue rose 25.5 per cent to S$55.3 million compared to the year-ago period, and net property income climbed 23.5 per cent to S$43.6 million.
ARA US Hospitality Trust debuts a shade off but ends day at IPO price of US$0.88
ARA US Hospitality Trust on Thursday made its debut on the Singapore Exchange’s mainboard at US$0.875 per stapled security, just slightly below its IPO (initial public offering) price of US$0.88, but recovered to end the day at the offer price. The opening price represents a 0.6 per cent or half a US cent discount from the IPO price. The performance comes amid a generally weaker market, with the Straits Times Index slipping 14.14 points or 0.4 per cent to 3,269.70.
Oxley responds to SGX queries on Chevron House sale
Oxley Holdings has provided greater details on the price tag of up to S$1.025 billion for Chevron House, which it had agreed to sell to Golden Compass, a wholly-owned unit of US-based real estate fund AEW. In response to Singapore Exchange (SGX) queries, the debt-laden property developer disclosed on Thursday that the 32-storey commercial development at 30 Raffles Place was valued at S$787 million as at end-June 2018.
Genting Singapore Q1 net profit falls 5% on lower gaming revenue
Integrated resort operator Genting Singapore on Thursday posted a 5 per cent decline in first-quarter net profit to S$205.5 million as gaming revenue fell. Earnings per share for the first quarter ended March 31 stood at 1.7 Singapore cents, down from 1.8 Singapore cents last year.
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Drone scans save Pearl Bank’s facade for posterity
Drone scans of Pearl Bank Apartments’ facade, and 3D laser scans of its various types of apartments and common areas, have been documented by CapitaLand ahead of the structure’s redevelopment. In a statement yesterday, CapitaLand said it spent three months methodically capturing the horseshoe-shaped block in Outram which was completed in 1976 to provide homes for the middle class.
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