The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 12th Sept 2019

Singapore Real Estate

Fewer condos and HDB flats leased in August: SRX data
Rental volumes shrank in August for both non-landed private homes and HDB flats compared to July, according to SRX data on Wednesday.  Meanwhile, rents edged up for condominiums but fell slightly for HDB flats on a month-on-month basis.

HDB launches 3,373 BTO flats for sale in Tampines, Punggol
The Housing and Development Board (HDB) launched a total of 4,089 flats for sale on Wednesday, a day after Minister for National Development Lawrence Wong announced higher grants and higher income ceilings for flat buyers.  A total of 3,373 Build-To-Order (BTO) flats in Punggol and Tampines are up for sale, and include flats ranging from two-room flexi to five-room flats.

Some sellers look to raise asking prices in light of new enhanced HDB grant
Singapore — A couple aged in their sixties who are trying to sell their Housing and Development Board (HDB) flat in Hougang wasted no time in responding to changes making HDB flats — including resale units — more affordable to first-time buyers.  Soon after the changes kicked in on Wednesday (Sept 11), the couple asked their property agent, ERA Realty senior marketing director Davon Chai, to jack up their asking price significantly.

Jervois Road GCB for sale with S$38.8m guide price
At least two good-class bungalows (GCBs) were put on the market on Wednesday – one at Jervois Road and another at Belmont Road.  The GCB at Jervois Road has been put up for sale by tender with a guide price of S$38.8 million, marketing agent JLL said.

Another good class bungalow in Belmont Road in mortgagee sale, with $20m guide price
Singapore – A good class bungalow (GCB) at 5 Belmont Road will be auctioned in a mortgagee sale with a guide price of $20 million, marketing agent ERA Realty said on Wednesday (Sept 11).  This works out to a price tag of around $1,225 per sq ft (psf), based on the guide price and 16,327 sq ft in land area.


Singapore Economy

Economic uncertainties worry more rich Asians than their Western peers
The ongoing US-China trade war and the murky economic outlook appear to be keeping Asia’s rich awake at night – at least, more so than their peers in the West.  More than half of Asia’s high net worth individuals (HNWIs) – about 56 per cent – view the global economic uncertainty as one of their leading concerns, compared with 41 per cent of their Western counterparts, according to a new study from Royal Bank of…

STB launches global incentive programme to further boost business tourism
The Singapore Tourism Board (STB) has launched a global edition of its Inspire incentive programme to attract visitors from the global meetings, incentives, conventions and exhibitions (MICE) sector.  For the global Singapore Incentives & Rewards (Inspire) programme, STB has partnered 29 local businesses to offer over 60 free leisure activities to qualified MICE groups visiting Singapore.


Companies’ Brief

Keppel DC Reit to be included in FTSE EPRA Nareit Global Developed Index
Keppel DC Reit will be included in the FTSE EPRA Nareit Global Developed Index with effect from Sept 23, 2019.  The index, developed by FTSE Russell in collaboration with the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (Nareit), is designed to track the performance of listed real estate companies and real estate investment trusts worldwide.

Competition watchdog seeks public feedback on BreadTalk’s proposed acquisition of Food Junction
[Singapore] The Competition and Consumer Commission of Singapore is inviting public feedback on BreadTalk Group’s proposed acquisition of Food Junction Management for S$80 million.  This comes after BreadTalk’s subsidiary Topwin Investment Holding, which has entered into a sale and purchase agreement for the acquisition, asked for a decision on whether the transaction would infringe the Competition Act.


Global Economy & Global Real Estate

US and eurozone likely to be in recession by 2022: SMU survey

WeWork to proceed with IPO despite tepid interest

Malaysia expected to hold rates as bets for cutting grow

HK stock exchange makes $54b bid for LSE

Israeli economic growth overshadows struggles of working poor

Riady scion seeks to save Lippo empire on the brink


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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