Singapore Real Estate
The property merry-go-round: anomalies in the market
It used to be that properties in Good Class Bungalow (GCB) Areas – the most prestigious form of landed housing in Singapore – were bought by Singapore’s captains of industry, tycoons and well-heeled foreigners turned Singaporeans. In recent years, however, Singaporeans in their twenties have also been surfacing among buyers of these big-ticket properties, as property market watchers note. The phenomenon is occurring not just for bungalows in GCB Areas but also for other categories of private residential properties being bought for investment.
Growing co-working market bolstering office rentals
Besides providing hip and cosy work locations, co-working spaces are also shaking up the real estate scene by bolstering office rentals. Aggressive expansion plans by big co-working operators such as WeWork, along with the proliferation of boutique firms, have driven demand for office spaces in Singapore, strengthening office rentals, which rose 10 per cent last year.
Shopee fully leases 5 Science Park Drive
Shopee, the e-commerce arm of Singapore-based, New York-listed Sea Ltd, is understood to have fully leased a new business park development at 5 Science Park Drive. The six-storey project, with frontage along Ayer Rajah Expressway, will have about 240,000 sq ft net lettable area. It is expected to receive Temporary Occupation Permit (TOP) soon.
Shrinking retail receipts in November
Black Friday failed to save Singapore retailers in November last year, as sales shrank more than expected. The sector’s performance turned negative after two months of growth, according to Department of Statistics figures out on Friday.
SME business sentiment slides for third straight quarter
Business sentiment among Singapore small and medium-sized enterprises (SMEs) eased again for the third straight quarter, even as they remained marginally optimistic about the outlook for the first six months of 2019. The latest Singapore Business Federation (SBF) – DP Info SME Index score fell slightly from 51.0 to 50.7, indicating an increase in caution among the 3,600 SMEs polled in October and November 2018.
SPH’s Q1 net profit down 6.3% as investment income falls
Media and property group Singapore Press Holdings’ net profit for the first quarter ended November fell 6.3 per cent to S$57.9 million from S$61.8 million a year ago, owing to a decline in investment income with last August’s partial divestment of its treasury and investment portfolio.
Oxley shares add 7% on news of deal to sell Stevens Road hotels
Shares in property developer Oxley Holdings were on a tear in Friday’s early session, adding 1.8 per cent to hit a three-month high at 9.03 am when it traded at 33 Singapore cents. Oxley shares eventually ended Friday’s session two Singapore cents or 6.8 per cent higher at 31.5 Singapore cents.
Workspace provider IWG takes space at Capitol Singapore
Mainboard-listed Perennial Real Estate Holdings has leased over 20,600 square feet of space at Capitol Singapore to global workspace provider IWG. IWG’s premium co-working space concept with private offices and club amenities – branded No18 – will be at Level 2 of Capitol Piazza. Capitol Singapore, which comprises three conservation buildings, will be home to No18’s first venue in Asia when it starts operations in the third quarter of 2019.
Views, Reviews, Forum & Others
The role of real estate in a diversified portfolio
Real estate has long been seen as a rich hunting ground for investment returns by institutional and individual investors alike. Sophisticated institutional investors such as sovereign wealth funds typically adopt a systematic asset allocation approach that explicitly aims to take advantage of the potential diversification benefits of including real estate in a multi-asset portfolio.
Global Economy & Global Real Estate
Older London offices could become a bargain
London housing shows signs of life despite Brexit uncertainty
US$13m cliffside mansion up for sale in Mexico
China to reduce foreign investment curbs: minister
China’s Wanda files for US IPO of sports unit to raise up to US$500m: sources
Mystery buyer forfeits HK$36m after changing mind on prime Hong Kong property
Australia’s housing sector slump shows up in another sickly set of data
Cracks in Sydney tower raise wider safety concerns
Thai developer scaling back its ambitions for new projects
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article