The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 10 Mar 2023 (Fri)

Singapore Real Estate


How Budget 2023 will impact the property market
Several measures in Budget 2023 that involve residential properties, such as increasing housing grants for first-timer families buying resale flats and the move to adjust stamp duty rates for higher-value properties, are likely to influence buyers’ sentiments.


HDB resale prices flatten in February, ending 31-month rally: SRX,
Resale prices of Housing and Development Board (HDB) flats stopped increasing for the first time since June 2020, holding steady in February 2023 compared to the month before, according to flash figures released by SRX and on Thursday (Mar 9).



Singapore Economy


Monetary policy tightening still on the cards for central banks, says MAS’ Ravi Menon
Singapore – Headline inflation appears to have hit its peak and central banks have slowed interest rate rises but there are still “some ways to go”, noted Singapore’s central bank chief on Thursday.


Commentary: Amid global race for talent, look at how to export Singapore leaders to the world
Singapore: As the global race for talent heats up, much has been said about the need to attract the best and the brightest to Singapore. Singapore must expect to see greater contestation and fragmentation in the global economy, said Deputy Prime Minister and Finance Minister Lawrence Wong in his Budget 2023 speech on Feb 14.



Companies’ Brief


CDL completes £395 million acquisition of St Katharine Docks development
City Developments Limited (CDL) on Thursday (Mar 9) said it completed its acquisition of the St Katharine Docks development in London for £395 million (S$636 million). This translates to £751 per square foot (sq ft) on the existing net lettable area.


Swire Pacific reports lower 2022 profits as Covid-19 curbs hit units Cathay Pacific, Swire Properties, Swire Coca-Cola
Swire Pacific’s profits fell 10 per cent in 2022 as losses widened at Cathay Pacific and other business units while profits fell at Swire Properties, reflecting Hong Kong’s difficult business environment under the city’s worst wave of Covid-19 infections and harshest pandemic restrictions.


Wharf sees 2022 profits tumble 92 per cent as pandemic batters Hong Kong, mainland China property revenues
Hong Kong-listed Wharf (Holdings) delivered a lacklustre performance in 2022, suffering heavy losses across the board as the pandemic, and in particular China’s strict zero-Covid measures, hurt the property market.



Global Economy & Real Estate


Biden unveils US$6.9 trillion budget, setting up showdown with GOP


Frontier countries to suffer most if Fed rate hits 6%: analysts


Britain’s property surveyors see improvement in housing market


China Evergrande races court deadline on debt restructuring terms: sources


Receivers of a luxury property on The Peak linked to top Evergrande executive put the asset up for sale


Hong Kong property: market remains stuck in doldrums as city’s border reopening is not quite the magic bullet hoped for, JLL report says


Japan eyes cash payouts to ease inflation pain on households -media


Japan’s wholesale inflation slows for 2nd month in February


Bank of Korea expects monetary tightening to weigh more heavily on growth this year


Malaysia needs to invest US$375 billion in renewables to reach 2050 climate goals


Malaysia maintains interest rate at 2.75% amid cooling inflation and economic growth




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