The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 13 Apr 2023 (Thu)

Singapore Real Estate


Residential plots at Lentor Central, Lentor Gardens for sale under H1 GLS programme
Residential sites at Lentor Central and Lentor Gardens have been released for sale by the Urban Redevelopment Authority on Wednesday (Apr 12) under the H1 2023 Government Land Sales (GLS) Programme.


Shenton House sale in private talks after S$590 million tender closes without bids
The collective sale of Shenton House has entered into private treaty negotiations after its en bloc sale tender closed with no bids received. Shenton House, a 99-year leasehold building in the Central Business District (CBD), was most recently put on the market on Feb 6 with a reserve price of S$590 million.


Freehold residential site at Meyer Place for sale at $25 mil
Singapore (EdgeProp) – A freehold residential site at 5 Meyer Place has been put up for sale via a public tender exercise with a guide price of $25 million, according to an April 12 press release by exclusive marketing agent Singapore Realtors Inc (SRI).


Two corner shophouses in Serangoon Garden for sale at $17 mil
Singapore (EdgeProp) – A pair of two-storey shophouses located at 86 and 88 Serangoon Garden Way has been launched for sale at a guide price of $17 million ($3,617 psf on the floor area). They are located on a 999-year freehold tenure site measuring 3,101 sq ft.


Shophouse at Hongkong Street for sale at $28 mil
Singapore (EdgeProp) – A freehold shophouse at 13 Hongkong Street in the CBD is up for sale via an expression of interest (EOI) exercise. The property has a guide price of $28 million, which translates to $4,623 psf based on the estimated gross floor area (GFA) of 6,057 sq ft.


EL Development to launch Blossoms By The Park in S$2,200-S$2,400 psf range
EL Development will start previews for its one-north area project, Blossoms By The Park, this Friday (Apr 14), pricing the condominium to be completed there between S$2,200 and S$2,400 per square foot (psf).



Singapore Economy


MAS stands ready to provide liquidity in times of global stress: Tharman
Singapore’s central bank is ready to provide liquidity to ensure that the country’s financial system remains stable, and that financial markets continue to function “in an orderly manner” in times of global stress, said Senior Minister Tharman Shanmugaratnam on Wednesday (Apr 12).


Singapore’s Q1 GDP growth likely slowed, complicating central bank’s task
Singapore’s economy is likely to have expanded at a slower pace in the first quarter, posing a challenge for the central bank as it seeks to balance containing persistent inflation with efforts to shore up weakening growth.


S’pore to plug deeper into global markets to drive economy and jobs
Singapore – Inflation may remain stubbornly high and the geopolitical landscape may be more fragmented, but Singapore will try to secure sustained economic growth and embed itself deeper into global supply chains and markets, including new ones.


Rising COVID-19 cases in Singapore driven by XBB variants; MOH says infection waves expected “from time to time”
Singapore: Covid-19 infections are on the rise again, but doctors say most cases are mild, adding that this is part and parcel of living with the virus as Singapore shifts into the endemic phase. Recent weekly official figures showed the highest surge so far this year, with cases climbing since the beginning of last month.



Global Economy & Real Estate


Federal Reserve economists project ‘mild recession’ at March meet: minutes


Inflation trumps financial risks as central bank tightening set to continue


US 30-year mortgage rate drops a fifth week to two-month low


US consumer prices rise moderately in March; underlying inflation still hot


Bank of Canada keeps rates on hold, sees stronger 2023 growth


Britain’s remortgaging pain is only getting started


UK housing market weakness continues, improvement on the horizon: RICS


Berlin’s housing market rebounds after brief price drop


Dublin office space take-up drops 42% in sign of further stress


Asia likely to grow 5% faster than developed economies by year-end: Morgan Stanley


Rich Chinese scrutinise investments like never before, with overseas funds seen at ‘grave risk’


Sunac China falls by record as trade resumes after yearlong halt


Hong Kong shared office firm sees leases surge on China demand


Hong Kong urged to look at Singapore, Macau methods for housing migrant workers; reuse of quarantine centres, cross-border commutes suggested


TikTok parent ByteDance to consolidate Hong Kong offices in One IFC


BOJ to continue monetary easing to achieve inflation target



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