DAILY NEWS

Daily News – 12 Oct 2022 (Wed)

SINGAPORE REAL ESTATE

Condo resale prices up 1.7% in September; volumes rise 1.1%: SRX, 99.co
Condominium resale prices rose for the 26th straight month in September, increasing by 1.7 per cent over the previous month and 11.1 per cent year on year. According to flash figures from SRX and 99.co published on Tuesday (Oct 11), prices for the outside central region (OCR) rose the most from the previous month at 2.2 per cent.
https://www.businesstimes.com.sg/real-estate/condo-resale-prices-up-17-in-september-volumes-rise-11-srx-99co
https://www.straitstimes.com/business/property/condo-resales-up-as-more-hdb-upgraders-priced-out-by-new-launch-prices

Mass market condo sales expected to remain firm despite softening demand from HDB upgraders
While the latest round of property cooling measures will impact HDB flat owners’ ability to upgrade to private housing, the effect on mass market homes may not be as great as some might think.
https://www.businesstimes.com.sg/real-estate/mass-market-condo-sales-expected-to-remain-firm-despite-softening-demand-from-hdb

Listed property groups worth a look despite lack of share price catalysts for now
I often hear gripes about high private home prices in Singapore, a trend mirrored in other global cities. There is a sense that one should get on the private homeownership ladder soon, before prices escalate further.
https://www.businesstimes.com.sg/opinion/mobile-spotlight/listed-property-groups-worth-a-look-despite-lack-of-share-price-catalysts

Real estate’s ESG push needs resilience as a fourth pillar
The last two-and-a-half years have been a stark reminder that stability is not to be taken for granted. The world has grappled with a global pandemic, waves of political tension with international consequences, and extreme weather conditions – including the second-hottest and coldest temperatures on record in Singapore alone.
https://www.businesstimes.com.sg/opinion/real-estates-esg-push-needs-resilience-as-a-fourth-pillar

Thai buyer pays record S$3,850 psf for top floor of Suntec Tower One
A two-tier market seems to be developing for Singapore office investment sales: Even as some institutional investors are harbouring second thoughts about picking up office buildings at high prices set by owners amid uncertainties and a rising-interest-rate environment, cash-flush Asian investors continue to be drawn to strata office plays in the city state.
https://www.businesstimes.com.sg/real-estate/thai-buyer-pays-record-s3850-psf-for-top-floor-of-suntec-tower-one

HDB to pilot ‘beamless’ flat designs in new Tengah BTO project
Singapore: An upcoming Build-to-Order (BTO) project in Tengah town will feature “beamless” flats providing more headroom and flexibility to configure layouts, as part of an initiative by the Housing and Development Board (HDB) to pilot the latest construction technologies.
https://www.channelnewsasia.com/singapore/tengah-hdb-bto-beamless-flat-innovations-3001261
https://www.todayonline.com/singapore/hdb-pilot-beamless-flat-designs-new-tengah-bto-project-2017131
https://www.straitstimes.com/singapore/housing/beamless-flats-virtual-mock-ups-to-be-piloted-in-tengah-bto-flats-in-productivity-push

SINGAPORE ECONOMY

Singapore’s reopening boom draws big money and bubble fears
Earlier this month, a record 302,000 people attended Singapore’s first Formula 1 car race in three years. Some forked out US$900 for a grandstand seat for three days, while others booked hotel suites overlooking the Marina Bay track for as much as US$10,000. Nightclub tables were fetching up to US$70,000 per evening.
https://www.businesstimes.com.sg/government-economy/singapores-reopening-boom-draws-big-money-and-bubble-fears

Singapore’s visitor arrivals at new high in September, but tourism recovery is slowing
The momentum of international visitor arrivals in Singapore appears to have slowed down in recent months, but analysts believe the city-state is on track to receive some 6 million visitors this year, within the upper band of the official forecast.
https://www.businesstimes.com.sg/government-economy/singapores-visitor-arrivals-at-new-high-in-september-but-tourism-recovery-is