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 May 2023 (Wed)

Singapore Real Estate


Property developers brace for surge in compliance work with new anti-money laundering rules
Property developers are gearing up ahead of an impending surge in compliance work they face, to comply with new rules the Urban Redevelopment Authority (URA) has put in place to tackle money laundering and terrorism financing in real estate


Residential shophouse on Niven Road for sale at $5.2 mil
Singapore (EdgeProp) – A freehold conservation shophouse at 31 Niven Road, in the Mount Sophia area in District 9, is up for sale through an expression of interest (EOI) exercise with a guide price of $5.2 million, or $4,163 psf on the land area.


Home rental scams rose fivefold in 2022, public should view homes physically and not pay in advance
Singapore – The number of home rental scams via online platforms jumped fivefold in 2022 to 979 cases, from 192 cases in 2021. Ms Sun Xueling, Minister of State for Home Affairs and Social and Family Development, revealed this in Parliament on Tuesday in response to a question from Ms Yeo Wan Ling (Pasir Ris-Punggol GRC) about the number of such scams in the past year.



Companies’ Brief


Analysts positive on FEHT recovery after strong 1QFY2023 performance
Analysts from Citi Research and Maybank Securities have maintained their “buy” calls for Far East Hospitality Trust (FEHT) with unchanged target prices of 70 cents and 80 cents respectively.


Chuan Hup acquires majority stake in student accommodation business for $5.3 mil
Chuan Hup Holdings on May 8, announced that it has completed its acquisition of 51% of the total shares in Homestead Capital. Homestead Capital is a newly-incorporated investment holding company that holds all the paid-up shares in Homestead KS.



Global Economy & Real Estate


US small business sentiment slumps to more than 10-year low


Top US Federal Reserve official does not rule out further rate hike


US homebuyers persevere despite high rates, prices


UK mortgage costs risk heading higher again with BOE rate hikes


UK firms turn to temporary staff as wages keep rising


New York’s smallest businesses face big rental hikes


Swedish home construction set to plummet this year, Nordea says


Spain may end or curb controversial ‘golden visa’ real estate scheme


Germany looking overseas for workers to ease acute labour shortages


Australian government rejects concerns budget may worsen inflation


Australia seeks to calm rental crisis with investor tax-breaks


4 in 5 businesses in Asia want to expand overseas but face challenges: UOB study


Chinese tycoon’s luxury Hong Kong home put up for sale by receiver


China property crisis sees new casualty with Languang delisting


HK’s CK Asset offers to buy UK social housing provider for $612 million


Chinese tycoon’s luxury Hong Kong home put up for sale by receiver


Japan’s spending downturn, wages decline heighten pressure on economy


Thailand says Chinese tourists on track to reach pre-Covid level


Malaysia’s Q1 GDP growth likely cooled on weak demand, exports – Reuters poll



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