DAILY NEWS

Daily News – 3rd Jan 2019

Singapore Real Estate

Marginal home price growth expected for 2019
Private home prices are expected to remain flat or rise slightly this year, supported by a slew of new projects poised for launch. After five straight quarters of growth, private residential prices dipped 0.1 per cent in the fourth quarter of 2018 over the preceding three months, led by the softening in prices of the landed property segment. This followed a quarter-on-quarter increase of 0.5 per cent in the third quarter, in the wake of July’s cooling measures.
https://www.businesstimes.com.sg/real-estate/marginal-home-price-growth-expected-for-2019
https://www.straitstimes.com/business/property/private-home-prices-see-end-to-winning-streak
https://www.straitstimes.com/business/private-home-prices-analysts-see-some-positive-signs
https://www.channelnewsasia.com/news/singapore/private-home-prices-2019-outlook-growth-2018-11079606

Horizon Towers gives collective sale another shot; Tanah Merah Mansion launches collective sale
Owners at Horizon Towers seem to have made nailing an en bloc deal a new year’s resolution, as they relaunched their collective sale tender on Wednesday at the same S$1.1 billion reserve price as before. The 211-unit Leonie Hill development’s first tender closed in September without a single bid. That tender was first launched in July. Its closing date was then extended by over a month because of cooling measures to the private housing market that came into effect just days after the tender period began.
https://www.businesstimes.com.sg/real-estate/horizon-towers-gives-collective-sale-another-shot-tanah-merah-mansion-launches
https://www.straitstimes.com/business/horizon-towers-seeks-to-go-en-bloc-again-at-same-11b-price

Sell Singapore residential, buy office? Not a foregone conclusion for all
Most property analysts at stockbroking houses have a negative view of the Singapore private residential sector and a positive view on the office market. But with the high level of uncertainty across various aspects of the economies here and abroad, there is a possibility that the consensus view may be too harsh on the outlook for homes, and too upbeat about offices.
https://www.businesstimes.com.sg/companies-markets/sell-singapore-residential-buy-office-not-a-foregone-conclusion-for-all

HDB resale flat prices fall 0.2% in Q4; full-year 2018 prices dip 0.9% over 2017
Housing Board resale flat prices fell slightly by 0.2 per cent in the fourth quarter of 2018 compared with the quarter before, according to latest HDB flash estimates. Resale flat prices also dropped 0.9 per cent in the fourth quarter from a year ago. For the whole of 2018, HDB resale prices dipped 0.9 per cent over 2017, said HDB on Wednesday.
https://www.businesstimes.com.sg/real-estate/hdb-resale-flat-prices-fall-02-in-q4-full-year-2018-prices-dip-09-over-2017
https://www.straitstimes.com/singapore/housing/hdb-resale-flat-prices-fell-09-last-year
https://www.todayonline.com/singapore/hdb-resale-prices-drop-sixth-straight-year-declining-09-2018

Yellow Pages Building renamed Braddell House
Yellow Pages Building, located at 1 Lorong 2 Toa Payoh, has been renamed Braddell House to reflect the owner’s shift in core business to property. Owned by GYP Properties, it is the group’s headquarters and part of its portfolio of 303,172 square metres (sqm) of land, comprising commercial, retail and residential assets in Singapore and New Zealand.
https://www.businesstimes.com.sg/real-estate/yellow-pages-building-renamed-braddell-house

Singapore Economy

Q4 growth dips to 2.2%; all eyes on Budget boost
Singapore’s economy is cooling but a sharp crash is not expected, watchers have said, even as they look to next month’s Budget for relief amid a hazy outlook for monetary policy. The economy chalked year-on-year growth of 2.2 per cent in the final quarter of 2018, according to flash estimates on Wednesday – easing a tad from 2.3 per cent the quarter before.
https://www.businesstimes.com.sg/government-economy/q4-growth-dips-to-22-all-eyes-on-budget-boost
https://www.straitstimes.com/business/economy/downtrend-for-spore-economy-expected-to-continue-this-year
https://www.straitstimes.com/business/spores-gdp-slows-to-22-in-q4-flash-data
https://www.todayonline.com/singapore/singapores-economy-grew-16-cent-q4-2018-previous-quarter-below-forecast

Companies’ Brief

Soilbuild Construction wins S$28.3m HDB contract
Soilbuild Construction Group has clinched a S$28.3 million contract by the Housing & Development Board (HDB). The projects involve the design and upgrading works for various housing blocks at Serangoon Ave 4 and Bedok Reservoir Road over a 20 month period. The contract is not expected to have a material impact on the net tangible assets and earnings per share of the group for the current financial year ending Dec 31, 2019.
https://www.businesstimes.com.sg/companies-markets/soilbuild-construction-wins-s283m-hdb-contract