DAILY NEWS

Daily News – 13th June 2019

Singapore Real Estate

Condo rents slip 0.3% in May, HDB rents inch up 0.1%: SRX
Rents for private non-landed homes were down 0.3 per cent in May from April, while rents for HDB flats rose slightly by 0.1 per cent, according to flash data from real estate portal SRX on Wednesday. The fall in rents for condominiums and private apartments in May followed a 0.5 per cent gain in April, which was adjusted from its initial flash estimate of 0.6 per cent.
https://www.businesstimes.com.sg/real-estate/condo-rents-slip-03-in-may-hdb-rents-inch-up-01-srx
https://www.straitstimes.com/business/property/condo-rents-slides-03-in-may-hdb-rents-up-01-srx
https://www.srx.com.sg/research/54521/non-landed-private-residential-rents-decline-03-in-may-but-are-20-higher-year-on-year–hdb-rental-prices-inch-upwards-by-01

China buyer signs S$31.5m deal for 3 Orchard By-The-Park penthouse
A Chinese citizen is understood to have been granted an option to buy a five-bedroom penthouse at YTL Land & Development’s 3 Orchard By-The-Park project for S$31.5 million. This works out to S$4,805 per square foot for the 6,555 sq ft triplex unit. The psf price is the highest registered so far among the units which YTL has sold to date in the completed freehold development near the upcoming Orchard Boulevard MRT Station.
https://www.businesstimes.com.sg/real-estate/china-buyer-signs-s315m-deal-for-3-orchard-by-the-park-penthouse

2 freehold commercial shophouses at Neil Rd, Jalan Besar up for sale
Two freehold commercial shophouses located separately at 148 Neil Road and 114 Jalan Besar have been put up for sale via an expression of interest exercise, exclusive marketing agent CBRE said on Wednesday. The two-storey Neil Road shophouse has a guide price of S$15.5 million. It includes a basement and attic level, and sits on a freehold site of about 1,587 square feet (sq ft), with a total built-up area of about 4,197 sq ft.
https://www.businesstimes.com.sg/real-estate/2-freehold-commercial-shophouses-at-neil-rd-jalan-besar-up-for-sale
https://www.straitstimes.com/business/property/2-freehold-commercial-shophouses-put-up-for-sale

Singapore Economy

Economists trim Singapore’s 2019 growth forecast to 2.1%
Trade protectionism remains the top growth risk cited by private-sector economists, who have further trimmed their 2019 forecast for Singapore to 2.1 per cent, in the Monetary Authority of Singapore’s (MAS) quarterly survey of professional forecasters, released on Wednesday. Down from 2.5 per cent in March’s survey, the latest figure falls within the Ministry of Trade and Industry’s…
https://www.businesstimes.com.sg/government-economy/economists-trim-singapores-2019-growth-forecast-to-21
https://www.straitstimes.com/business/economy/economists-cut-spore-growth-forecast-to-21-from-25
https://www.todayonline.com/singapore/economists-downgrade-2019-growth-forecast-singapore-mas-survey
https://www.channelnewsasia.com/news/business/singapore-2019-gdp-forecast-mas-survey-june-trade-economy-11618758

Retail sales continue slump, down 1.8% in April
Retail sales slid for the third month in a row in April as cautious consumers cut back on shopping. Takings at the till fell 1.8 per cent compared with April last year – a stark divergence from the 0.2 per cent dip expected by analysts in a Bloomberg poll.
https://www.straitstimes.com/business/economy/retail-sales-continue-slump-down-18-in-april
https://www.businesstimes.com.sg/infographics/retail-slump-continues-in-april-sales-down-18

Companies’ Brief

Real estate, manufacturing, F&B counters feature in SGX trading
Real estate, manufacturing and food & beverage (F&B) companies account for almost half of the top 200 Singapore-listed firms by trading turnover in the first five months of the year. According to Singapore Exchange (SGX) data, the real estate sector saw 60 listings among the 200 most actively traded stocks and accounted for the most day-to-day market turnover.
https://www.businesstimes.com.sg/companies-markets/real-estate-manufacturing-fb-counters-feature-in-sgx-trading