The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 26, 27 & 28 March 2022 (Sat, Sun & Mon)

Singapore Real Estate

Singapore homes to see firm rents, more leasing deals when border with Malaysia reopens further
Singapore’s residential leasing market is not likely to see a major impact when the land border with Malaysia reopens further, although the increase in arrivals and departures could boost the volume of rental transactions, property analysts said.

Relaxing of safe management measures at sales galleries, border curbs could support new home sales
The easing in travel curbs and in safe distancing measures at sales galleries could lift demand for new private homes, although the supply of unsold inventory remains tight. In a circular to housing developers dated Thursday (March 24), the Urban Redevelopment Authority’s Controller of Housing informed developers that group sizes within show galleries would be expanded to 10 people starting Mar 29.

HDB buyback scheme: Tackling woes of flat sellers hit by ethnic quotas
Singapore – An executive maisonette on the 12th floor, located within walking distance of Aljunied MRT station, has many of the attributes Housing Board flat buyers look for.

Devil may be in the details of HDB’s EIP buyback scheme: Experts
Singapore – The move to allow home owners constrained by the Ethnic Integration Policy (EIP) to sell their units back to the Housing Board would level the playing field for sellers, said property analysts, though the big question is – by how much?


Singapore Economy

Domestic, border reopenings could further push up consumer prices amid scramble for labour
Singapore’s domestic and border reopening could push up consumer prices even further, as employers struggle to fill vacancies in a tight labour market, industry watchers have warned in conversations with The Business Times.

New travel rules likely to boost Singapore hotels from mid-2022: analysts
Singapore’s hotel sector may only start seeing a boost from the new Vaccinated Travel Framework (VTF) in the second half of 2022, and it could take until end-2023 before occupancy rates near pre-Covid levels, industry analysts told The Business Times

Easing of rules for inbound travellers a relief for tour operators as local bookings dry up
Singapore – The new relaxed rules for inbound travellers who have been vaccinated against Covid-19 announced last Thursday (Mar 24) have come at a good time for tour operators here.

Singapore must stay competitive in ‘dangerous world’: PM Lee
Singapore must work to protect its competitive advantages in attracting investments as the external environment worsens, Prime Minister (PM) Lee Hsien Loong said, at the announcement of a fresh S$1.5 billion investment in the Republic by consumer electronics multinational Dyson.

Rebound in factory output in February could moderate this month, say economists
Singapore’s factory output rebounded sharply in February after a brief slowdown, but economists believe growth could begin to moderate in the coming months amid greater uncertainty in the external environment.

Foreign worker levy rebate for construction, marine shipyard sectors extended
Companies in the construction, marine shipyard and process (CMP) sectors will continue to receive foreign worker levy rebates till June 2022. In a joint announcement on Sunday (Mar 27), the Ministry of Manpower and the Ministry of National Development said support measures for companies in the CMP sectors would be extended in view of continued manpower shortages and elevated business costs caused by the pandemic.

Multiple free trade agreements can support supply chain resilience: Iswaran
A lattice of free trade agreements (FTAs) can provide resilience in a time when supply chains face disruption from geopolitical tensions and the Covid-19 pandemic, said S Iswaran, Minister-in-charge of Trade Relations, on Friday (Mar 25).

F&B operators prepare for more diners from March 29, but fret over labour crunch
Singapore – Restaurants are dealing with a surge in bookings of up to 10 diners from March 29, the first day when the easing of Covid-19 rules takes effect. Reservations came in immediately after the announcement was made on March 24.


Companies’ Brief

CICT and Coref to acquire Grade-A office building on Robinson Road for S$1.3b
CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Open End Real Estate Fund (Coref) have entered into an agreement to acquire a Grade-A office building at 79 Robinson Road for S$1.3 billion.

First Sponsor and Ho Bee Land chairmen build stakes
For the 5 trading sessions that spanned Mar 18 to 24, the Straits Times Index (STI) gained 2.3 per cent, with the FTSE China A50 Index rising 1.2 per cent, the Hang Seng Index adding 2.3 per cent and the FTSE Bursa Malaysia KLCI up 0.1 per cent.

KIT trustee-manager proposes to peg base, performance fees to distributions
The trustee-manager of Keppel Infrastructure Trust (KIT) has proposed new base fee and performance fee structures pegged to distributable income and distribution per unit (DPU) growth respectively.

Mapletree’s support for MCT-MNACT merger may raise expectations of other Reit sponsors
When Mapletree Commercial Trust (MCT) and Ma-pletree North Asia Commercial Trust (MNACT) unveiled plans to merge 3 months ago, this column asserted the deal only made sense from the perspective of their sponsor Mapletree Investments.

Retail, hotel, office S-Reits gain with relaxed Covid rules
Singapore announced the easing of Covid-19 measures on March 24 as the country takes a “decisive but measured step forward” towards living with Covid-19. With the risk of outdoor transmission significantly lower, it will soon be optional to wear masks outdoors in Singapore while the maximum group size for social gatherings as well as dining in will double from 5 to 10. Certain large-scale social gatherings are also permitted to resume.

DBS sees upside to DPU of hospitality S-Reits from 2022 as borders reopen
Hospitality real estate investment trusts (Reits) in Singapore will likely deliver a convincing recovery trajectory from 2022 as borders in Singapore and Asia reopen, said DBS Group Research on Friday (Mar 25).


Views, Reviews, Forum and Others

Decisive steps to living with Covid-19
Singapore has taken measured but decisive steps forward towards living with the coronavirus pandemic by announcing, among other things, that group size limits will go up to 10 people, and masks will no longer be mandatory in outdoor settings from Tuesday.

Restoring an invaluable land connection
The coronavirus pandemic struck a nasty blow at something that used to be taken for granted in relations between Singapore and Malaysia: unhindered travel between the two neighbours, not least by land across the Causeway and the Second Link.

Why Singapore had to take a strong stand against Russia’s attack on Ukraine
Singapore – More than a month after it launched its invasion, Russia continues to pound cities in Ukraine and push its forces into its unfortunate neighbour. Sadly, millions have been displaced. Cities are blackened shadows of what they were. Once hailed as brothers, Ukrainians now view Russians as hated occupiers, ready and willing to destroy their land and ruin their lives.

Climate crisis more acute than feared: How will this impact businesses?
The climate crisis looked dire enough; but the United Nations (UN) now says the situation is worse than we feared – and that urgent and bolder action is needed from governments, businesses and individuals.


Update on COVID-19 (Coronavirus Disease 2019) Situation

4,848 Covid-19 cases in Singapore on Sunday, lowest since Feb 3
[Singapore] The number of daily Covid-19 cases and hospitalisations in Singapore has fallen to 4,848 and 694 respectively on Sunday (Mar 27). This is down from 731 hospitalisation cases and 6,434 cases on Saturday. The number of is the lowest since Feb 3, which had 4,297 cases.

Do I need to wear mask along HDB corridors? Complete guide to Covid-19 rules starting this week
Here’s a quick guide on what you can or cannot do from March 29.

*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

Biden to propose minimum tax on billionaires as part of 2023 budget

US consumer sentiment remains at decade-low on inflation, war

US pending home sales post fourth straight monthly decline in February

Buy a home, but rent another one to live in

Bitcoin’s stealth rally past US$45,000 erases its losses for the year

World economy now more likely to split into blocs: Expert

Hyatt cites sanctions as it cuts ties with Moscow hotel

New world order? War and pandemic rattle globalisation

Shanghai locks down half the city to nail growing Covid outbreak

Japan’s March economy report flags inflation risk from Ukraine war

Hong Kong’s tycoons spend billions on Chinese property bargains

Border reopening: Johor property players expect rentals to rebound

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