The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 3rd, 4th and 5th June 2017

Top Story

Is en bloc fever back? Analysts are split
With four collective sales of properties in Singapore in the last month or so, analysts are debating if that is an indication the en bloc fever is back. So far they have yet to reach consensus.  Three of these en bloc sales were sealed in the last seven days, pushing some analysts to believe that the signs are there for an upswing in the real estate prices.

Singapore Economy

Singapore’s gold hub strategy bears fruit as imports, exports rise
Singapore’s strategy to develop itself as a gold hub has proven successful, as its imports and exports almost doubled in the years after the goods and services tax (GST) was removed for investment-grade precious metals in 2012.  But there is still more work to be done, especially in increasing business flows now that the infrastructure is in place, said the Singapore Bullion Market Association (SBMA).

September start for upgraded Singapore-Australia trade deal
The upgraded version of the bilateral free trade agreement (FTA) between Singapore and Australia will enter into force in September.  In it are a number of new features that will make it easier for companies from Singapore and Australia to leverage opportunities in each other’s country.  This is the third update of Australia’s second-oldest FTA – it was signed 14 years ago – and is part of the ongoing commitment by the two governments to promote stronger economic ties over the long term.

S’pore manufacturing activity picks up at slower rate in May
Conditions in Singapore’s manufacturing sector continued to improve for the ninth straight month in May 2017, although at a slower rate than it did in April.  The overall Singapore Purchasing Managers’ Index (PMI) – a leading indicator of manufacturing activity – stood at 50.8 in May, a dip of 0.3 point from the previous month.

Singapore Real Estate

2 more HUDC estates aim to sell en bloc
Two privatised HUDC estates are gunning for collective sales in the wake of lucrative sales of two other properties of this type – Rio Casa and Eunosville – in recent weeks.  The 560-unit Tampines Court will likely launch its tender in July, while 336-unit Florence Regency in Hougang is in the early stages of the sales process.  The Straits Times understands that Tampines Court owners are seeking at least $960 million for the large Tampines Street 11 site, spanning over 702,000 sq ft.

Smart cities rising but some becoming stupid, say experts
As cities around the world strive to be smart, some have become stupid instead.  By working in isolation and resisting innovations, they are taking a step back from the vision of becoming a smart city, Asian experts said yesterday at a conference here on smart cities and innovation.  So, what is a “stupid city”?  It is a city that gives in to urban sprawl, with people moving from central areas to low-density communities, said Mr Nicholas You, a director of the Guangzhou Institute for Urban Innovation in China.

Bigger and better cancer centre to boost treatment
Cancer patients here will have access to one of the most advanced forms of radiation therapy once the new National Cancer Centre Singapore (NCCS) building opens its doors.  As work on the building got under way, NCCS yesterday shared details about the new $100 million proton therapy centre that will be housed there to treat patients with a form of radiation that leaves healthy tissues relatively undamaged.

No bubble in China’s property market, says CWG Int’l CEO
As far as SGX-listed CWG International executive chairman and CEO Qian Jianrong is concerned, many market observers have got it wrong in believing that there is a property bubble in China.  Since the Chinese government’s measures last October to limit home purchases to rein in soaring prices, speculation has been stamped out and what remains is latent demand for owner-occupation, he argues.  In fact, the restrictions on purchases and issuance of pre-sale licences to developers are creating pent-up demand which may trigger the next wave of demand.

Companies’ Brief

Perennial partners Beijing hospital in TCM
Perennial Real Estate Holdings over the weekend announced its first move into Singapore healthcare – its joint venture company Perennial TCM Management has signed a strategic partnership agreement with the Beijing Hospital of TCM to set up Ming Yi Guan, a treatment facility situated in the House of Tan Yeok Nee in Orchard Road.  The new facility will be the Beijing hospital’s first treatment facility outside China.

Mapletree eyeing slice of the lucrative student housing market
Singapore’s sovereign wealth capital has of late been showing interest in student housing and its promise of stable earnings.  The latest deal was announced on Friday, with Temasek Holdings-linked Mapletree Investments buying another portfolio of student housing and multi-family properties in the United States and Canada from Kayne Anderson Real Estate Advisors. Temasek is a Singapore government-owned investment company.

Views, Reviews & Forum

More deliberation needed in naming public buildings
It seems rather common nowadays to have public buildings named after individuals and corporations (The ethics of naming buildings after luminaries; June 3).  For commercial entities, the purpose is clear – namely, it serves to raise the profile of the organisation. This motivation is transparent and generally acceptable.

Amphibious homes not feasible for Singapore
Amphibious homes, such as those in Maasbommel, the Netherlands, which stay on the ground during dry times but float when water comes, were brought up as an alternative approach in dealing with rising sea levels (Holding back the tides; May 28).

BTO first, propose later: Young couples don’t regret applying for flat first
“Do you want to apply for a BTO together?”  So goes the unromantic question that many a pragmatic Singaporean man has asked his girlfriend – even before proposing marriage.  With an average wait of three to four years for the completion of a Build-To-Order (BTO) flat – often the most affordable option for young couples – planning far ahead has long been the norm.

Rationale for 10% deposit on BTO flat
Reader Yuen Kar Wai, 58, wrote to askST about the 10 per cent Housing Board deposit he needs to pay for his upcoming four-room flat. His request for a waiver was rejected even though he is unable to pay the deposit now. He wrote: “(The proceeds from the sale of my current flat) is sufficient to pay for half of the Build-to-Order (BTO) flat.

Savvy investor owns two properties at 29
Property investor Jay Tay knows as well as anyone how pricey it is to buy and sell real estate, so he decided to do something about it.  Two months ago, Mr Tay, 29, who is a bachelor, set up Suite Hut to help owners sell their properties without having to go through an agent. It offers free consultation services and helps to advertise the units on major property portals.

Global Economy & Global Real Estate

Global economy set for continuing growth in 2017 and beyond

Fed official says fourth rate hike possible

Amusement mall’s need for another US$1 billion leaves analysts bemused

Need a mortgage? Get it before you retire

It looks bleak for high-end stores on Bleecker Street

Upward momentum tough for bears to break

US job growth slows; unemployment rate drops to 4.3 per cent

Sovereign investors raise property holdings, wary of UK on Brexit

China gets smarter on artificial intelligence

Bid to shake up Canada’s biggest industrial landlord gets a boost

Montreal basks in ‘Goldilocks’ status as Toronto housing cools

No widespread mortgage fraud, says Canada’s housing chief

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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