DAILY NEWS

Daily News – 13th February 2019

Singapore Real Estate

Singapore condo resale prices down 0.3% in Jan: SRX
Singapore’s condo resale market continued to cool for the second straight month in January, with non-landed private residential resale prices down 0.3 per cent from the month before, according to monthly figures from real estate portal SRX Property on Tuesday. This follows December’s month-on-month drop of 0.6 per cent, revised from the 0.8 per cent fall earlier estimated by SRX
https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-prices-down-03-in-jan-srx
https://www.straitstimes.com/business/property/condo-resale-prices-slip-03-in-january-for-2nd-monthly-drop-srx

Freehold commercial building for sale with S$25m guide price
A freehold four-storey commercial building near Jalan Besar MRT station is up for sale in an expression-of-interest exercise, its exclusive marketing agent JLL said on Tuesday. The exercise closes at 3pm on March 20. The property at 7 Hindoo Road has a 15-m wide frontage, a land area of 3,519 square feet and a gross floor area (GFA) of about 13,970 sq ft. The guide price is S$25 million or S$1,790 per square foot on the GFA. The incoming owner has potential naming and signage rights for the property.
https://www.businesstimes.com.sg/real-estate/freehold-commercial-building-for-sale-with-s25m-guide-price

JTC food factory goes on sale with S$18m guide price
A JTC detached food factory next to the future Enterprise MRT Station on the Jurong Region Line has been put on sale by private treaty at a guide price of S$18 million. When contacted, exclusive marketing agent Cushman & Wakefield said the reason for the sale was because the owner of the property has “sold (its) business and no longer needs the facility”.
https://www.businesstimes.com.sg/real-estate/jtc-food-factory-goes-on-sale-with-s18m-guide-price-0
https://www.straitstimes.com/business/property/jtc-food-factory-goes-on-sale-with-18m-guide-price

HDB launches 3,739 flats in first sales exercise of 2019
The Housing and Development Board (HDB) has launched 3,739 flats in its first sales exercise of the year, comprising 3,162 Build-to-Order (BTO) flats in the non-mature towns of Jurong West and Sengkang, and the mature estate of Kallang-Whampoa. Excluding grants, prices start from S$95,000 for a two-room flexi flat in Jurong West, and from S$523,000 for a four-room flat in Kallang Whampoa.
https://www.businesstimes.com.sg/real-estate/hdb-launches-3739-flats-in-first-sales-exercise-of-2019-0
https://www.straitstimes.com/singapore/housing/hdb-launches-3739-flats-in-first-sales-exercise-of-the-year

Singapore Economy

Annual retail sales fall for the first time in five years
Retail sales this year could stay sluggish, analysts warned, after full-year figures were released by the Department of Statistics on Tuesday. Cashiers here rang up 0.7 per cent less in 2018 than in the year before – the first annual decline since 2013. Stripping out auto sales, which have been on a downward jag, Singapore retail sales grew by a softer 1.1 per cent last year, against 1.8 per cent in 2017.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2019/annual-retail-sales-fall-for-the-first-time-in-five-years
https://www.straitstimes.com/business/economy/december-retail-sales-fall-more-steeply-than-expected
https://www.straitstimes.com/business/companies-markets/weak-retail-sales-data-weighs-down-sti

Companies’ Brief

Frasers Property’s Q1 net profit jumps 76% to S$145.6 million
Frasers Property posted a 76.1 per cent increase in its first quarter profit to S$145.6 million on the back of sales of residential development projects in Australia and China, as well as an enlarged base of recurring income assets. Revenue came in at S$1.08 billion for the three months ended Dec 31, 2018 – 44.7 per cent higher than the S$748.6 million it chalked up a year ago.
https://www.businesstimes.com.sg/companies-markets/frasers-propertys-q1-net-profit-jumps-76-to-s1456-million

CBRE appoints new Singapore MD, S-E Asia chairman and chief operating officer
CBRE’s Pauline Goh will now assume the role of chairman for South-east Asia, a role that will be “more client-centric, focused on nurturing and growing strategic client accounts across South East Asia”, the company said on Tuesday night. She was formerly chief executive for CBRE Singapore and South-east Asia for the property consultancy since 2010.
https://www.businesstimes.com.sg/real-estate/cbre-appoints-new-singapore-md-s-e-asia-chairman-and-chief-operating-officer