The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 30 Nov 2021 (Tue)

Singapore Real Estate

Singapore private homes aren’t as pricey as they seem
There is some anxiety over rising private home prices here, which are up by almost 8 per cent in the third quarter of 2021 compared with the fourth quarter of 2019, prior to the outbreak of the Covid-19 pandemic, data by the Urban Redevelopment Authority (URA) showed.

Will rising residential prices heighten the risk of fresh cooling measures?
With the private residential market poised to end the year on a high note, does this once more heighten the risk of policy measures? Even the perceived possibility of cooling measures could serve as a near-term headwind for the share price of property developers with exposure to the private residential market, one analyst has flagged.

Singapore Economy

Singapore economy still on track to grow, despite Omicron risk
Singapore is still headed for positive economic growth in 2022, but the potential hit from the highly mutated new Covid-19 variant remains to be seen, economists told The Business Times, as the global spread of Omicron is expected to put the brakes on international border reopenings.

Wage recovery to put more stress on rising consumer costs
Rising wages will push up Singapore inflation in 2022, although external forces remain the main culprit behind price increases, labour-market watchers told The Business Times. Continued border closures have put upward pressure on salaries, which are also picking up from a pandemic-related trough in 2021…

Companies’ Brief

LHN full-year net profit up 16.9% to S$28.9m
Property player LHN Group’s net profit rose 16.9 per cent to S$28.9 million for the full-year ended Sept 30, 2021, despite a 9.9 per cent slip in revenue from a year ago. This was mainly due to an improvement in the profitability of its space optimisation business (industrial and Singapore co-living segment)…

Digital Core Reit aims to raise almost US$1b in Singapore IPO
Pure play data centre real estate investment trust (Reit) Digital Core Reit intends to raise total gross proceeds of US$977 million from its initial public offering (IPO) on the Singapore Exchange, including the issuance of the sponsor units, cornerstone units and parent US Reit preference shares.

IReit Global bags new tenant for office space in Germany
IReit Global has secured a 5-year lease from a tenant for 5 floors of office space in its Munster Campus building in Germany, the real estate investment trust’s (Reit) manager said on Friday (Nov 26).

Views, Reviews, Forum & Others

Is property tax ready for the future economy?
Property tax, which originated as a municipal levy, hardly receives much attention from fiscal strategists, especially in these days of the re-design of the global tax system under the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS 2.0).

Rise of Omicron variant underscores need to address vaccine inequity
For at least the next couple of weeks, the world will be holding its breath – or perhaps masking up more – as scientists race to understand the new Omicron variant of Covid-19. The United Kingdom, which has hardly been a paragon of caution amid the pandemic…

Stay calm amid new Covid-19 variant
The World Health Organisation (WHO) last week designated a newly detected Covid-19 strain, known as B.1.1.529, as a variant of concern, assigning it the name Omicron. After Delta, Alpha, Beta and Gamma, this now is the fifth mutant among the active variants of concern.

Update on COVID-19 (Coronavirus Disease 2019) Situation

1,103 new Covid-19 cases in Singapore on Monday; ICU rate falls to 51.2%
[Singapore] There were 1,103 new Covid-19 infections reported in Singapore on Monday (Nov 29), up from 747 on Sunday. The Covid-19 weekly infection growth rate stood at 0.69, consistent with Sunday’s figure, said the Ministry of Health (MOH) in its nightly update.

2 SIA passengers who tested positive for Covid-19 variant Omicron transited in S’pore but did not leave airport
Singapore – Two passengers on a Singapore Airlines flight who were infected with the Covid-19 variant Omicron were travelling from Johannesburg and were in transit to Sydney, said the Ministry of Health (MOH) on Monday (Nov 29).

Is there a better tech alternative to TraceTogether-SafeEntry to check vaccination status?
Singapore – Mandatory use of contact tracing tool TraceTogether and digital check-in system SafeEntry is burdensome to the majority of the population since contact tracing is no longer extensively done here.

Singapore and Malaysia aim to expand land VTL to general travellers from mid-December
Singapore and Malaysia are aiming to expand the land Vaccinated Travel Lane (VTL) scheme, which began on Monday (Nov 29), to include general travellers from the middle of December, said Prime Minister Lee Hsien Loong.

Omicron clouds recovery of aviation, tourism sectors
Despite not much being known about the Omicron coronavirus variant, it has already created an uncertain outlook for the aviation and travel industries, challenging the nascent recovery these sectors have just begun to see since the pandemic hit last year.

*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

Omicron adds economic risks, inflation uncertainty: US Fed chief

UK services industry sees record cost inflation: CBI

Omicron poses risks to global economic growth, inflation: Rating agencies

New Zealand business confidence eases in November

Australia’s current account surplus hits record A$23.9b in Q3

Evergrande shares fall after chairman cuts stake; Fantasia suspends trading

Japan’s Oct output rises for first time in four months as supply snags ease

As world shuts borders to stop Omicron, Japan offers a cautionary tale

South Korea’s Oct factory output shrinks most since May 2020 on auto chip shortage

Thai finance minister says 2021 exports expected to grow 17%, most in 12 years

Additional Articles of Interests -Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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