Private housing supply from H1 2019 land sales cut by 20%
The government has cut the private housing supply from its first-half 2019 land sales programme by 20 per cent from the current half, bringing it to the lowest level in 12 years. Analysts say they hope this would create some breathing room for developers, in light of the significant increase in pipeline supply following the en-bloc frenzy on the one hand, and moderating demand following the July property cooling measures on the other.
Variety of choice sites on H1 slate; seven of total 14 sites are new
The Ministry of National Development’s first-half 2019 Government Land Sales supply may be subdued but still offers a selection of choice sites. In all, there are five sites on the confirmed list and nine on the reserve list. Seven of the total 14 sites are new. Some property consultants rate the most attractive plot as the one along Tan Quee Lan Street, on top of the Downtown Line Bugis MRT Station. It was just made available for application on the current-half reserve list but is being transferred to the H1 2019 confirmed list.
Singapore Real Estate
Meidi-Ya and famed ramen eatery to open in Great World revamp
Japanese supermarket Meidi-Ya and renowned ramen restaurant Hototogisu Ramen are among the new additions to Great World City that will open in the coming months, with the completion of the mall’s first phase of refurbishment. The S$50 million facelift, which began in April, will see the mixed-use development in River Valley add 50 new tenants and three main access points to the upcoming Great World MRT station along the Thomson-East Coast line. The Great World MRT stop is due for completion in 2021.
HDB resale prices edge up in November, volume dips further: SRX
Resale prices of Housing Board flats rose 0.2 per cent last month after a slight dip in October, although the number of transactions fell again. The price increase was most significant for HDB executive flats at 2.5 per cent, while the cost of four-roomers dropped 0.3 per cent and that of five-room units fell 0.5 per cent, flash estimates by real estate portal SRX Property showed on Thursday.
Investment Outlook 2019
With 2018 drawing to a close, analysts are beginning to cast their gaze towards 2019. Here are outlooks for the year ahead that were published on Thursday.
UOL unit inks agreement to acquire Sydney property for A$154.52m
UOL Group, via its indirect wholly-owned subsidiary Success Venture (CS), has entered into a sale and purchase agreement to acquire a freehold property in Sydney for around A$154.52 million (S$152.72 million). The property, located at 72 Christie Street, sits on a site area of about 2,815 square metres (sq m), with a net lettable area of around 11,259 sq m. The eight-storey office building, which has a four-storey basement for parking, is 100 per cent tenanted with the lease expiring in 2028.
Keppel’s diversity makes it better value than pure O&M play: Goldman
Keppel Corp’s non-oil and gas businesses are gaining more heft for the conglomerate, Goldman Sachs said on a day that the company announced separate deals in urban solutions and property development. Initiating coverage on Keppel, Goldman highlighted that while the group has traditionally been perceived as an offshore and marine (O&M) proxy, this could change with oil prices becoming less of a driver to share price.
Views, Reviews, Forum & Others
Empower condo managements to enforce by-laws
I wish to urge the relevant authorities to look into the issues behind maintaining a condominium estate (Judge orders condo owner to restore balcony’s design; Dec 4). As demonstrated in that article, the management corporation (MC) had to resort to suing an owner of a condo unit for not following its by-laws. This system of recourse is not the most effective use of resources.
Global Economy & Global Real Estate
Global economic recovery will be hit if trade row escalates: WTO
Baby boomers spark surge in demand for luxury eldercare
Sydney’s most iconic House soars in value as home prices are plunging
Pre-Brexit hoarding sparks frenzy for warehouse space in Britain
Brookfield to be top NY landlord after Forest City deal closes
Are China’s trade practices really unfair?
Property firm Summit Germany eyes 2019 share sale – sources
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article