The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 1 June 2023 (Thu)

Singapore Real Estate


Luxury property rents soar amid demand from high-net-worth individuals
Singapore: Rents for luxury homes have soared amid demand from high-net-worth individuals, who are willing to pay top dollar for these homes, analysts said. Singapore’s red-hot property market saw rents rising to record highs last year.


Lee Foundation-linked company selling two Barker Road bungalows for S$32.2 million
Pulau Properties – owned by the Lee Foundation and members of the Lee family that founded OCBC – is selling a pair of freehold bungalows in Barker Road for S$32.2 million. The price works out to S$2,280 per square foot on a land area of 14,123 square feet.


48 semi-detached houses at Eleven@Holland up for mortgagee sale while developer winds up
Forty-eight semi-detached houses at Eleven@Holland off Bukit Timah Road have been put on the block after the developer went into liquidation. The 99-year leasehold units are part of an 82-unit project developed by Clydesbuilt (Holland Link), which is being wound up, with liquidators appointed in November 2022. The properties are mortgaged to Hong Leong Finance.


Top Global is case study why firms should be made to sell their investment properties before going private
Top Global has been busy selling strata units at 15 Scotts Road (previously called Thong Teck Building) post its delisting from the Singapore Exchange in August 2021. Most recently, it has put up for sale two strata ground floor retail units, with a combined strata area of around 6,437 square feet (sq ft), at 15 Scotts Road – a District 9 freehold nine-storey commercial building located near the Tanglin Club.


Waiting time to enter flat portal for May BTO sales launch reduced from 2 hours to 20 minutes: HDB
Singapore – The waiting time to enter the Housing Board’s May sales launch webpage has been reduced, HDB said on Wednesday, following some complaints about the two-hour wait at the launch on Tuesday.



Companies’ Brief


Aims Apac Reit’s private placement closes at S$1.214 apiece
Aims Apac Reit (AA Reit) has closed its private placement at S$1.214 per new unit, said its manager on Thursday (Jun 1). The private placement closed at the low end of the estimated price range of between S$1.214 and S$1.249.


CapitaLand Investment’s refreshed 2030 sustainability master plan integrates 2050 net zero carbon emissions commitment
CapitaLand Investment (CLI) has refreshed its 2030 sustainability master plan (SMP) to strengthen its environmental, social and governance (ESG) pillars. The new plan integrates the group’s commitment to achieve net zero carbon emissions by 2050 and to reduce its scope 1 and 2 carbon emissions by 46% by 2030.


Hong Fok to join MSCI Singapore Small Cap Index
Property developer Hong Fok is set to join the MSCI Singapore Small Cap Index after the market closes on Wednesday (May 31). In a statement on May 11, MSCI said mining company Golden Energy and Resources, Hong Fok and Super Hi International, which operates hotpot chain Haidilao, would be added to the MSCI Singapore Index, while Prime US Real Estate Investment Trust would be deleted.



Global Economy & Real Estate


More than 1 in 4 American homeowners ‘house poor’


US mortgage rates hit near seven-month high during debt impasse


Scandal-hit UK business lobby outlines survival plan


ECB’s inflation fight exposes fragilities in financial system


Home prices may slump in eurozone as rates rise, ECB warns


German inflation slows significantly as ECB rate hikes near end


German unemployment rises less than expected in May


New Zealand’s house-price declines slow as rate hikes set to end


Australia first-quarter business investment hits 7-year high, outlook solid


Australia’s house prices rise sharply in May, driven by Sydney


Asia’s factories signal more pain as China recovery falters


China’s factory activity swings to surprise growth in May – Caixin PMI


Disappointing returns cool China’s infrastructure Reit craze


Chinese buyers have snapped up more than half of foreign-owned homes in South Korea


Chinese visa applications just 35% of pre-pandemic levels, data show


Hong Kong renovation saga: strength of modified load-bearing wall at flat can’t be ‘100 per cent’ restored even if legal mark fulfilled, buildings authority head warns in Lohas Park case


Taiwan central bank sees export momentum picking up in H2


Japan’s solid capex growth points to upward revision to Q1 GDP


Japan’s factory activity expands first time in 7 months – PMI


South Korea factory activity slumps into longest downtrend since early 2009


South Korea exports fall for 8th month but pace eases for chip, China shipments


Wait and see: Malaysia’s renewed push for Johor-Singapore economic link



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