The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 15th March 2017

Top Story

Resale prices for condos up for 4th month in a row: SRX report
Resale prices of non-landed private homes in Singapore rose 0.9 per cent month on month in February 2017, based on SRX Property’s latest flash estimate.  This marks the fourth consecutive month-on-month gain in the index. In January 2017, the index posted a one per cent m-o-m appreciation.  The prime area or Core Central Region (CCR) continued to lead price gains last month, with a one per cent increase, followed by a 0.9 per cent rise in the index for the suburbs or Outside Central Region (OCR).  In the city fringe or Rest of Central Region (RCR), the index increased 0.8 per cent.


Singapore Economy

Singapore city infrastructure No. 1: Survey
Singapore has topped a ranking of more than 200 cities around the world in terms of offering the best infrastructure.  This was the first time that city infrastructure has been rated separately in consulting firm Mercer’s annual ranking. Frankfurt and Munich were both placed second.  City infrastructure is an important factor when multinational corporations decide where to establish operations abroad and where to send expatriate workers.  Easy access to transportation, reliable electricity, and drinkable water are all key considerations when determining hardship allowances based on differences between a given worker’s home and host locations, Mercer said.

SMEs hope for more short-term relief as they feel the squeeze
Small and medium-sized enterprises (SMEs) say they continue to feel the immediate pain of manpower constraints and high operating costs – issues they believe the Budget did not do enough to address.  The Government should pro- vide some relief by adjusting the 2:1 workforce ratio of Singapo- rean to foreign workers, SME bosses argue.  The views were expressed yesterday at a panel discussion where Ms Sim Ann, Senior Minister of State for Trade and Industry as well as Culture, Community and Youth, listened to the concerns of some 300 SME owners.


Singapore Real Estate 

Tampines plot tipped for a good turnout
Mediocre location notwithstanding, a private housing site in Tampines Avenue 10 is expected to draw strong interest with as many as 15 bids – thanks to developers’ ravenous appetite for land.  Moreover, the improving sentiment in the residential property market as reflected in good sales results during recent launches and not forgetting the recent easing of the seller’s stamp duty (SSD) should lift the confidence of bidders when they bid for the 2.2-hectare site at a state tender closing on April 25.


Companies’ Brief

PropNex Realty launches regional franchise
Singapore’s largest homegrown agency PropNex Realty is finally spreading its wings regionally after 17 years of operation through a franchise model.  Within a span of six months, it has garnered 600 property agents in Indonesia across seven agencies under a master franchise since the second half of last year. Next up will be Vietnam, where it hopes to bank on a similar master franchise concept.  PropNex Realty CEO Ismail Gafoor said he is in no hurry to jump-start new markets though he is in the process of shortlisting potential candidates in Vietnam.

Luxury home sales boost PropNex’s 2016 revenue
Real estate agency PropNex Realty turned in far higher revenue last year despite facing a challenging property market still feeling the effects of cooling measures.  It recorded a 21.5 per cent year on year jump in gross revenue to $278.9 million, thanks partly to better sales performance in the luxury residential segment.  Overall transaction volume surged 10.4 per cent last year to 46,229, from 41,875 in 2015, it said yesterday.

Lynette Leong taking CapitaLand Commercial Trust to greater heights
Lynette Leong, the chief executive officer of CapitaLand Commercial Trust Management, which manages the first and largest commercial real estate investment trust (Reit) listed on Singapore Exchange, believes women possess many advantages that allow them to complement their male colleagues in the board room.
“We have plenty of qualities that can complement and provide a good balance to the male attributes – we need not act masculine or try to compete with men,” she said.  Instead, women should always play to their strengths, she noted. A feminine touch, an eye for detail and a flash of intuition could go far in establishing rapport, defusing tension, or even closing a deal.

Thai condo developer eyes Chinese, other foreign buyers
Thai property developer Sansiri, which has a partnership with its home country’s mass transit operator BTS group, is making a big push to go international, starting with Singapore.  The developer opened its first international office at Ocean Financial Centre this week, and plans to open several more in China as it seeks to increase sales involving foreign buyers by 40 per cent.  CEO Apichart Chutrakul said that last year, the company clocked a 55 per cent jump in presales from foreign buyers at US$154 million (S$218 million).


Global Economy & Global Real Estate 

IMF head warns of ‘self-inflicted injuries’ hurting economic recovery

A growing disconnect between the market and economy

Dollar climbs ahead of expected Fed rate increase

Wall St speculators smell money as malls get mauled

Family of Trump son-in-law in US$4b deal with Chinese company

China property sales surge despite efforts to cool market

China’s economy off to a strong start as investment rebounds

China’s Anbang denies report of Kushners property investment

HK regulators investigating realtors over overseas property sales

Hong Kong trails Singapore in quality-of-life rankings due to housing, pollution issues

China’s new rules could spark strategy change for Forest City

Soaring Australia home prices could lead to more curbs


Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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