Singapore Real Estate
S-Reit picks to ride on ‘structural growth trends’ in H2
Heading into the second half of 2022, investors should focus on real estate investment trusts (Reits) that can deliver sustainable growth in the near to mid term. “Risk of interest rates impacting distributions is well flagged out, but given the way we see base rates increasing, we believe that the actual impact could be a tad more than expected,” said DBS analyst Derek Tan.
Silver lining for S-Reits in H2 as sector ‘bottoms out’ and rate hikes ease
Real estate investment trusts (Reits) have been pummelled by fears of rising interest rates, even as effects of the Covid-19 pandemic continue to linger. The FTSE EPRA Nareit Developed Index, a global Reits benchmark, saw total returns slide to negative 18 per cent for the first half of 2022.
Bigger HDB BTO flats: Clawback needed on first resale proceeds?
The HDB is on track to launch up to 23,000 new flats in 2022. Still, it can be challenging for first-time applicants to secure a built-to-order (BTO) flat, especially a larger unit. In the May BTO exercise, the application rate among the non-elderly first-time applicants was the highest for the 4-room and 5-room flats at Yishun Beacon, with application rates of 9.4 times each as at Jun 2, 2022.
Nearly all 540 Ang Mo Kio Sers residents need not top up for new flats if they take up 50-year lease
Singapore – Nearly all of the 540 Ang Mo Kio residents aged 45 years and above will not have to top up any money to move into a similarly-sized replacement flat if they opt for a 50-year lease, said National Development Minister Desmond Lee.
Singapore can further enhance S$6.6b GST Assurance Package if need be: Lawrence Wong
Even when taking into account the latest inflation and today’s higher prices, the government stands by its assurance that the majority of Singaporean households will not feel the impact of the Goods and Services Tax (GST) increase for at least 5 years, with the impact for lower-income families delayed by about 10 years.
Higher tax collection, lower spending help fund $1.5b support package: DPM Wong
Singapore – Singapore collected more taxes and saved more money last year than originally projected, which was precisely why the Government was able to mount the recent $1.5 billion support package to help people cope with inflation, and fund it from its current budget…
Govt’s approach to help is to offer short-term relief and support longer-term restructuring: DPM Lawrence Wong
Singapore – In providing financial help, the Government’s approach is to provide short-term relief while supporting longer-term economic restructuring, Deputy Prime Minister Lawrence Wong said in Parliament on Monday (July 4).
Seizing the opportunity to move Singapore forward
Last week, Deputy Prime Minister Lawrence Wong launched Forward Singapore (Forward SG), a year-long national conversation which aims to harness the views of Singaporeans to shape the nation’s future and renew its social compact.
Neither recession nor stagflation expected for Singapore in 2023: Alvin Tan
Singapore is not expected to see a recession nor “stagflation” in 2023, Minister of State for Trade and Industry Alvin Tan told Parliament on Monday (Jul 4). Noting that economic activity has been resilient so far…
Singapore PMI slips to 50.3 in June, but electronics outlook improves
Overall factory activity in Singapore expanded at a slower rate in June, but growth in the key electronics sector gathered steam, according to latest figures from the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Jul 4).
Both short-term relief and structural measures needed to temper inflation
Monday’s (Jul 4) discussion on the economy and cost of living was wide-ranging – covering recession risks, inflation, and fiscal and monetary steps to support businesses and households, among others.
Hwa Hong directors plan strategic review in expectation of offer lapse
Shareholding directors of Hwa Hong Corporation “are increasingly of the view that maximising shareholder value would be best achieved outside the timeline and constraints imposed by the general offer” made by Sanjuro United at S$0.40 per Hwa Hong share, said the company on Monday (Jul 4).
Oxley Holdings to focus on developed countries that are ‘more politically stable, transparent’
Oxley Holdings said in a business update on Monday (Jul 4) that it intends to focus its property development activities in developed countries such as the United Kingdom and Ireland as it deems them to be “relatively more politically stable and transparent”.
Views, Reviews, Forum and Others
Time to do away with virtual-only AGMs
From a corporate governance viewpoint, it is disappointing to see that although almost all restrictions on group sizes have been lifted, most companies which have a Mar 31 year-end will not be hosting fully physical annual general meetings (AGMs) in July. Even more disappointing is that a few will still be holding electronic-only AGMs, instead of the hybrid format which is allowed.
MAS weighing more crypto safeguards for consumers: Tharman
Singapore – Singapore is considering more safeguards to protect consumers after the plunging prices of crypocurrencies triggered a series of prominent players, including firms based here, becoming insolvent.
Singapore needs harsher response to crypto fallout to preserve reputation as responsible hub
As international authorities launch probes into recent cryptocurrency-related collapses, Singapore’s regulators have also started moving. Industry players, however, are questioning if it is moving fast enough, and with sufficient force.
MHA to study amending law to make it easier to establish renovation fraud
Singapore – The Ministry of Home Affairs (MHA) will look into amending the law to make it easier to establish fraud in cases involving errant renovation contractors. Law and Home Affairs Minister K. Shanmugam said on Monday (July 4) that renovation fraud generally involves contractors inducing victims to make payment for promised renovation works, which are either partially completed, or not carried out at all.
Concerns over potential side effects stopping some older adults from getting Covid-19 jabs, boosters: Study
Singapore – Taxi driver Wong Yew Weng received his third Pfizer shot last September but has been delaying taking his second booster shot, despite being eligible for it. While his wife is keen to get a second booster shot – meant to protect seniors and the vulnerable from severe disease…
Global Economy & Global Real Estate
Many major economies to hit recession over next 12 months: Nomura
Swiss inflation in June tops 3%, highest since 2008
New Zealand business confidence down due to high costs, interest rates
Growth forecast for Asean+3 shaved down to 4.3%: Amro
China services recovery stronger than expected, Caixin PMI shows
Japan’s May real wages post biggest drop in nearly 2 years on inflation
Energy crisis slams Japan as weak yen sends import costs surging
South Korea’s inflation hits fastest pace since 1998 ahead of BOK decision
Malaysia’s overnight policy rate on track to hit 3% in 2023: Maybank Investment Bank