The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 16th May 2019

Singapore Real Estate

Early sales of private homes for May indicate it could top April’s full-month sales
Early sales of private homes for May show it is likely to surpass April’s, a month where developers sold 735 private homes in the absence of major launches.  April’s tally was down around 30 per cent from the 1,054 units moved in March, and marginally higher than the 733 units developers sold in the corresponding month a year ago.

Singapore condo rents up 0.6% in April, HDB rents down 0.1%: SRX
Rents for non-landed private homes in Singapore rose 0.6 per cent in April from March, while rents for HDB flats dipped 0.1 per cent, said real estate portal SRX on Wednesday.  Year on year, rents for condominiums and private apartments rose 2.4 per cent; all regions recorded increases.

No change to CPF interest rates, HDB mortgage rate for July-September
Interest rates for all Central Provident Fund (CPF) accounts, along with the HDB mortgage rate, will remain the same from July 1 to Sept 30, the CPF Board and the Housing Board said on Wednesday.  The Ordinary Account (OA) interest rate will be maintained at 2.5 per cent per year. This means the interest rate for HDB mortgage loans, pegged at 0.1 per cent above the OA interest rate, will remain at 2.6 per cent per year.


Companies’ Brief

CDL latest to seize new opportunities in China
THE ongoing trade spat and China’s credit crunch may have created opportunities for Singapore developers, with City Developments Limited (CDL) becoming the latest to seal a major property deal in China.  The property giant is taking up a 24 per cent stake in Chinese developer Sincere Property Group for 5.5 billion yuan (S$1.1 billion), marking the group’s single biggest investment in China so far.

SC Capital Partners buys Canberra office complex for A$62m
Singapore-based SC Capital Partners has agreed to buy Finlay Crisp Centre, located in Canberra’s central business district in Australia, for A$62 million (S$58.74 million).  The 99-year office complex, with a capital value of A$2,174 per square metre (sq m), was sold off-market by Marc Giuffrida, the executive director of CBRE Global Capital Markets, Asia.

Metro invests 200m yuan in Chengdu mall through property fund
Property development and investment group Metro Holdings has agreed to invest 200 million yuan (S$39.8 million) for a 50 per cent stake in Xiamen CICC Qihang Equity Investment Partnership, or CICC Qihang Fund for short.  The property fund has a fund size of 400 million yuan and was set up by CICC Capital, the private equity arm of China International Capital Corporation (CICC).

AA Reit to buy Gold Coast industrial property for A$38.5m
Aims Apac Reit (AA Reit) is expanding its footprint in Australia with a A$38.46 million (S$36.92 million) acquisition of a freehold industrial facility in Gold Coast.   In a statement on Wednesday, its manager noted that AA Reit has entered into a sales and purchase contract with GSM Rocket Australia to purchase Boardriders Apac HQ, in the suburb of Burleigh Heads, Queensland.

Banyan Tree Q1 profit dives 74% to S$5.2m on lower revenue
Resort operator Banyan Tree Holdings has posted a 74 per cent drop in net profit to S$5.2 million for the first quarter ended March 31, from S$20.2 million a year ago, due to lower revenue across all segments.  Earnings per share fell to 0.62 Singapore cent, from 2.4 cents a year ago. No dividend has been declared for the period, unchanged from a year ago, according to a regulatory filing late on Wednesday.


Global Economy & Global Real Estate

Weak US retail sales point to slowing economy

US manufacturing falls in April, total Q1 output plunges from 2018

WeWork continues to lose money ahead of potential IPO

Food Delivery Boom Means Sandwiches Don’t Come From Restaurants Now

London luxury home prices hit by longest slump in decades

China economy under pressure as trade war escalates

China housing a bright spot in soggy economy as prices gain

Australia jobless rate jumps to 8-month high; Aussie dollar stumbles

Australian wage growth stalls, builds case for rate cut

Indonesia posts largest-ever trade deficit in April

Want a home in Thailand? You have 450,000 empty ones to choose from

Cautious spending threatens to weaken India’s growth

For the Noncommittal Oligarch, a $3.4 Million Rental in Monte Carlo

A Guide to Real Estate in the World’s Most Expensive Market


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