Singapore Real Estate
Singapore condo rents up 0.6% in November; HDB rents down 0.5%: SRX
The rental market for private non-landed property in Singapore picked up in November while it slowed for HDB properties, going by flash data from real estate portal SRX on Wednesday. Rents for condominiums and private apartments in November increased by 0.6 per cent from the previous month. The monthly decline in rents for October was raised to 0.9 per cent from 0.7 per cent estimated earlier.
Economy watchers trim Singapore 2019 GDP forecasts
Singapore is headed for a slowdown, private-sector analysts said, while agreeing that the US-China trade war is the top risk to the economy. Growth in next year’s gross domestic product (GDP) is expected to ease by a wider margin than was projected three months ago, according to the latest quarterly survey by the Monetary Authority of Singapore (MAS) released on Wednesday.
US dollar to gain still against Singapore unit into new year
After registering its biggest weekly drop in more than three months last week, amid a stronger-than-expected rally this year, the US dollar regained its footing this week and is expected to continue powering ahead into 2019, particularly against the Singapore dollar. Although the USD-SGD has gained over 5 per cent since its low of 1.31 in April, analysts predicted that US dollar strength will pick up even more in 2019, with some seeing the currency pair rise above 1.40 in the first half of the year.
Consumer confidence up in Q3: Nielsen
Consumer confidence in Singapore rose in the third quarter to its highest level since entering pessimistic territory three years ago, according to the latest Singapore Consumer Confidence Index out on Wednesday. But at 98 points, up from 94 points the previous quarter, consumer confidence has yet to take a turn into optimism. The index for Singapore has been in pessimistic territory – and also below the global index level – since Q3 2015, when it dipped from 101 to 94 points.
Retail sales slow sharply in October
Singapore’s retail sector gained just 0.1 per cent in October on the year before, according to Department of Statistics figures out on Wednesday. The slight increase paled against September’s growth on 1.9 per cent. On a seasonally adjusted, monthly basis, sales dipped by 0.4 per cent, unchanged from the month before. Meanwhile, not counting motor vehicles, retail sales rose by 0.5 per cent year on year, but fell by 2.1 per cent on the previous month.
Reits’ asset injections: A little less action a little more discretion, please
Rights issues have become a thing to fear for Reit investors. Recent cash calls by OUE Commercial Reit, Keppel-KBS US Reit and Cromwell European Reit have all drawn negative market reactions. As one market watcher whispered in passing: You never know who’s next. Indeed, Reits have always relied on equity dilution or new debt to fund acquisitions, since the law requires them to distribute at least 90 per cent of income to enjoy tax benefits.
OUELH to co-build international hospital in Shenzhen
OUE Lippo Healthcare (OUELH) is looking to develop and operate an international hospital in Prince Bay, Shenzhen in partnership with Hong Kong based state-owned conglomerate China Merchants Group. The company said on Wednesday that it signed a non-binding letter of intent with China Merchants Shekou Industrial Zone Holdings (CMSK) to jointly build, run and manage a high-end international hospital which is expected to have more than 200 beds serving the local community.
VIEWS, REVIEWS, FORUM & Others
Tweak balcony area bonus scheme for more living space
The new guidelines by the Urban Redevelopment Authority (URA) on the maximum number of units allowed in private flats and condominiums will effectively reduce the number of units in a development. However, this may not rein in the proliferation of shoebox units (URA cuts number of units allowed to be built in condos, private flats; Oct 18).
46 cases of fallen windows from Jan to Nov
There were 46 cases of fallen windows in the first 11 months of this year, figures released yesterday show. In the whole of last year, there were 56 cases, and in 2012, there were 71, said the Building and Construction Authority (BCA) and the Housing Board in a joint statement. Of the 46 cases so far this year, 23 involved casement windows while 19 were sliding windows. The remaining four cases involved other window types, such as louvre windows. There were no injuries reported in any of the cases.
Global Economy & Global Real Estate
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