Singapore Real Estate
Singapore prime non-landed home sales ease to S$1.1 billion in H1 2023
The total sales value of private prime non-landed residential property in Singapore fell to S$1.1 billion in the first half of 2023, said real estate consultancy Knight Frank. There was a 23 per cent decline in total sales value in the first six months of the year, compared to the S$1.4 billion recorded in H2 2022, the consultancy said in a residential market update.
https://www.businesstimes.com.sg/property/singapore-prime-non-landed-home-sales-ease-s11-billion-h1-2023
SLA exploring ways to attract wider pool of tenants for state-owned heritage bungalows
The Singapore Land Authority is exploring ways to attract a wider pool of tenants for around 600 state-owned heritage bungalows. Currently, only about 30 of these — which include black-and-whites — are used for commercial purposes. SLA is exploring longer leases and turning some into family offices.
https://www.youtube.com/watch?v=oRxrBDAIFgI
GSH enters sale and purchase agreement to sell Raffles Place property for S$38.8 million
Mainboard-listed GSH Corporation has entered a sale and purchase agreement for the disposal of its Cecil Street property in Raffles Place for a consideration of S$38.8 million, the company said on Wednesday (Jul 12).
https://www.businesstimes.com.sg/companies-markets/gsh-enters-sale-and-purchase-agreement-sell-raffles-place-property-s388-million
https://www.theedgesingapore.com/news/property/gsh-sells-office-units-cecil-street-388-mil
Companies’ Brief
GuocoLand bags S$498.6 million green facility to develop Lentor Gardens site
GuocoLand Limited has obtained S$498.6 million in green financing from DBS and OCBC to develop its residential site at Lentor Gardens, which was awarded to its tie-up with Hong Leong Holdings in April this year.
https://www.businesstimes.com.sg/companies-markets/guocoland-bags-s4986-million-green-facility-develop-lentor-gardens-site
https://www.theedgesingapore.com/news/environmental-social-and-governance/guocoland-secures-4986-mil-green-facility-lentor-gardens
Keppel Corp divests 28.44% stake in Thai-listed SVOA for $23.4 mil
Keppel Corporation has, through its wholly-owned subsidiary, Apsilon Ventures Pte Ltd, divested 28.44% of its stake in Thai-listed SVOA Public Company Limited for 605.8 million baht ($23.4 million). The market value represented by the shares that were sold was 535.9 million baht as at July 12.
https://www.theedgesingapore.com/news/company-news/keppel-corp-divests-2844-stake-thai-listed-svoa-234-mil
Mapletree Investments makes first foray into Japanese logistics real estate market
Mapletree Investments, the sponsor of all three Singapore Exchange (SGX)-listed Mapletree REITs, has acquired its first logistics space in Kyushu, Japan. The three REITs are Mapletree Logistics Trust (MLT), Mapletree Industrial Trust (MINT) and Mapletree Pan Asia Commercial Trust (MPACT).
https://www.theedgesingapore.com/news/property/mapletree-investments-makes-first-foray-japanese-logistics-real-estate-market
Global Economy & Real Estate
Fed set to raise rates in July despite inflation slowdown
https://www.businesstimes.com.sg/international/fed-set-raise-rates-july-despite-inflation-slowdown
https://www.straitstimes.com/business/us-inflation-at-3-flags-rate-setting-turning-point-for-fed
US consumer prices rise modestly in June; core inflation slowing
https://www.businesstimes.com.sg/international/us-consumer-prices-rise-modestly-june-core-inflation-slowing
https://www.straitstimes.com/business/us-consumer-prices-rise-modestly-in-june-core-inflation-slowing
https://www.theedgesingapore.com/news/us-economy/us-inflation-cools-3-and-core-cpi-rises-less-forecast
US mortgage rates jump above 7% to the highest level since November
https://www.businesstimes.com.sg/property/us-mortgage-rates-jump-above-7-highest-level-november
Bank of England says UK economy coping with higher rates
https://www.businesstimes.com.sg/international/bank-england-says-uk-economy-coping-higher-rates
Hong Kong investment property transactions drop to 19-year low
https://www.businesstimes.com.sg/property/hong-kong-investment-property-transactions-drop-19-year-low
Two Hong Kong mansions sold at US$25 million discount: Sing Tao
https://www.businesstimes.com.sg/property/two-hong-kong-mansions-sold-us25-million-discount-sing-tao
Japan has new real estate leader for first time in three decades
https://www.businesstimes.com.sg/property/japan-has-new-real-estate-leader-first-time-three-decades
Japan households’ inflation expectations rise, keep pressure on BOJ
https://www.channelnewsasia.com/business/japan-households-inflation-expectations-rise-keep-pressure-boj-3623196
Rich homebuyers nervous about getting burned in London
https://www.businesstimes.com.sg/property/rich-homebuyers-nervous-about-getting-burned-london
Malaysia’s industrial production jumps 4.7% in May, exceeding economists’ forecast
https://www.businesstimes.com.sg/international/asean/malaysias-industrial-production-jumps-47-may-exceeding-economists-forecast
New Zealand house prices continue to rise in June: Reinz
https://www.businesstimes.com.sg/property/new-zealand-house-prices-continue-rise-june-reinz
South Korea household borrowing at record high as mortgage demand jumps
https://www.businesstimes.com.sg/property/south-korea-household-borrowing-record-high-mortgage-demand-jumps
https://www.channelnewsasia.com/business/south-korea-household-borrowing-record-high-mortgage-demand-jumps-3622811
South Korea’s import price decline in June steepest in 8 years
https://www.channelnewsasia.com/business/south-koreas-import-price-decline-june-steepest-8-years-3625206
UK buyers retreat from housing market, further slowdown seen: RICS
https://www.businesstimes.com.sg/property/uk-buyers-retreat-housing-market-further-slowdown-seen-rics
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.