SINGAPORE REAL ESTATE
S$2,000 psf benchmark for surburban private homes to persist: poll
Real estate honchos expect S$2,000 per square foot to be the new benchmark price for private residential properties in the outside central region (OCR), according to poll findings by the National University of Singapore Real Estate (NUS+RE).
https://www.businesstimes.com.sg/real-estate/s2000-psf-benchmark-for-surburban-private-homes-to-persist-poll
Property players less optimistic in Q3, expect ‘muted outlook’ for suburban residential market
Property players in Singapore have turned more pessimistic in the third quarter of 2022, with economic clouds gathering even as prices continued to rise and new residential launches scored strong sales in recent months.
https://www.businesstimes.com.sg/real-estate/property-players-less-optimistic-in-q3-expect-muted-outlook-for-suburban-residential
Rents for HDB, condo units rise further in October; analysts say property cooling measures played a role
Singapore — Rental prices for both condominiums and Housing and Development Board (HDB) units continued to rise in October for the 22nd consecutive month, with analysts saying that the recent property market cooling measures likely had a role to play.
https://www.todayonline.com/singapore/hdb-condo-rents-keep-rising-property-cooling-impact-2040991
https://www.straitstimes.com/business/property/condo-hdb-rents-up-in-oct-strong-demand-for-bigger-flats-in-landlord-s-market
Actual compensation for Ang Mo Kio SERS residents about 7.5% higher than expected: HDB
Singapore: The actual compensation for Ang Mo Kio residents identified for the Selective En bloc Redevelopment Scheme (SERS) is about 7.5 per cent higher than expected, the Housing and Development Board (HDB) said on Wednesday (Nov 9).
https://www.channelnewsasia.com/singapore/ang-mo-kio-sers-actual-compensation-higher-expected-hdb-3057576
https://www.todayonline.com/singapore/ang-mo-kio-sers-homeowners-get-compensation-about-75-more-previously-estimated-2041391
https://www.straitstimes.com/singapore/housing/ang-mo-kio-sers-residents-to-get-compensation-from-hdb-that-is-about-75-per-cent-higher-than-estimates
SINGAPORE ECONOMY
Easing inflation: More time needed for tighter monetary policy to affect prices, says Alvin Tan
Singapore – The effects of the Monetary Authority of Singapore’s (MAS) efforts to strengthen the Singapore dollar are still working their way through the economy, and more time is needed before prices here ease discernibly, Minister of State for Trade and Industry Alvin Tan said on Wednesday.
https://www.straitstimes.com/singapore/easing-inflation-more-time-needed-for-tighter-monetary-policy-to-affect-prices-says-alvin-tan
Singapore wants open supply chains as US levels China chip curbs
Singapore is pushing for “open and inclusive” tech supply chains to counteract accelerating economic bifurcation after the US moved to restrict China’s access to cutting-edge semiconductors.
https://www.businesstimes.com.sg/government-economy/mobile-spotlight/singapore-wants-open-supply-chains-as-us-levels-china-chip-curbs
COMPANIES’ BRIEF
Frasers Logistics & Commercial Trust posts lower H2 DPU
Despite no year-on-year change to its distributable income for the second half-year ended Sep 30, Frasers Logistics & Commercial Trust (FLCT) posted a lower distribution per unit (DPU) of 3.77 Singapore cents for the period, a 2.8 per cent fall from 3.88 cents.
https://www.businesstimes.com.sg/companies-markets/frasers-logistics-commercial-trust-posts-lower-h2-dpu
PropNex Q3 net profit rises 21.9% to S$17.6 million on higher revenue
Mainboard-listed real estate agency PropNex on Wednesday (Nov 9) reported a 21.9 per cent increase in net profit for the third quarter on the back of higher revenue. Net profit for the three months ending Sep 30, 2022, rose to S$17.6 million from S$14.4 million in the year-ago period. Revenue rose 10.2 per cent over the same period to S$258.4 million.
https://www.businesstimes.com.sg/companies-markets/mobile-spotlight/propnex-q3-net-profit-rises-219-to-s176-million-on-higher-revenue
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US mortgage rates rise to 7.14%, near highest level since 2001
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/us-mortgage-rates-rise-to-714-near-highest-level-since-2001
Homebuilder DR Horton results miss estimates as demand shrinks
https://www.businesstimes.com.sg/real-estate/homebuilder-dr-horton-results-miss-estimates-as-demand-shrinks
UK house prices fall as rising mortgage rates temper property market
https://www.businesstimes.com.sg/real-estate/uk-house-prices-fall-as-rising-mortgage-rates-temper-property-market
One of world’s priciest cities turbocharges affordable housing
https://www.businesstimes.com.sg/real-estate/one-of-worlds-priciest-cities-turbocharges-affordable-housing
China’s reopening will be a major wildcard for Asean and global economies in 2023
https://www.businesstimes.com.sg/asean-business/chinas-reopening-will-be-a-major-wildcard-for-asean-and-global-economies-in-2023
China property crisis threatens US$1.6t of local state debt
https://www.businesstimes.com.sg/global-enterprise/china-property-crisis-threatens-us16t-of-local-state-debt
China’s security agency in Hong Kong buys HK$508m luxury villa
https://www.businesstimes.com.sg/real-estate/chinas-security-agency-in-hong-kong-buys-hk508m-luxury-villa
https://www.straitstimes.com/asia/east-asia/china-s-security-agency-in-hong-kong-buys-90m-luxury-villa