The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 14 June 2023 (Wed)

Singapore Real Estate


China, Singapore private wealth continues to support shophouse demand
The going may be slow for some segments of the commercial property market that typically rely on institutional investors, in the face of high interest rates. However, the shophouse market continues to draw buyers in the private wealth segment, be they local or overseas.


Three Eleven @ Holland housing units sold from S$1,050 to S$1,079 psf
Three cluster semi-detached houses at Eleven @ Holland were sold via a tender exercise that closed at noon on Jun 12, 2023. On Tuesday (Jun 13), exclusive marketing agent PropNex Realty said these properties were part of seven cluster semi-detached homes which were put on sale with an average strata area of 3,735 square feet (sq ft).


Stabilising home prices
Buyers of Housing and Development Board (HDB) resale flats can probably heave a sigh of relief that resale prices are no longer rising at a frenzied pace. HDB resale flat prices rose in May at 0.3 per cent, compared with 1.1 per cent in April, according to flash estimates from SRX and



Singapore Economy


PM Lee to deliver National Day Rally speech on Aug 20
Singapore: Prime Minister Lee Hsien Loong will deliver his National Day Rally speech on Aug 20. It will be held at the Institute of Technical Education (ITE) College Central at Ang Mo Kio, the Prime Minister’s Office said on Tuesday (Jun 13).


Big countries should build capabilities that help workers rather than hold competitors down: Tharman
Countries should not seek to establish a relative lead over each other internationally by protectionist means, because doing so would compromise their own “absolute performance” and ability to maximise their people’s opportunities so that ordinary working people can benefit, said Senior Minister Tharman Shanmugaratnam on Tuesday (Jun 13) evening.



Companies’ Brief


Koh Brothers Eco unit and partner bag S$186m HDB contract
A subsidiary of Koh Brothers Eco Engineering : 5HV +6.06% and its joint venture (JV) partner have secured a S$186 million contract from the Housing & Development Board, the company announced in a bourse filing on Tuesday (June 13).


EC World Reit receives waiver for deadline to divest Chinese logistics asset
EC World Reit has received a waiver from the Monetary Authority of Singapore (MAS) to complete its proposed divestment of two Chinese logistics assets by the deadline of Jun 16. The Reit was originally required to complete the divestment six months after it was approved by unitholders on Dec 16, 2022.


Sembcorp wastes little time on goal to unlock more value
Sembcorp Industries’ recent announcement that it is exploring the potential divestment of the waste management business and its energy-from-waste (EfW) plant appears to have sent investors into a tizzy.



Global Economy & Real Estate


US inflation report signals Fed rate pause will become a full stop


Fed starts interest rate meeting as inflation continues to cool


US consumer prices slow in May; core inflation sticky


Bank of England started interest rate hikes first, but is set to finish last


UK homebuilder Bellway flags demand woes as high rates weigh


China faces world’s biggest millionaire exodus as economy slows


Mainland Chinese investors look to Southeast Asia for commercial property as political tensions, interest rates make US, Australia less appealing

China state planner rolls out measures to lower costs for firms

Hong Kong to recruit 27,000 foreign workers amid shortage

Hong Kong restarts scheme for private firms to build subsidised housing

South Korea’s jobless rate in May falls to record low; factory sector still shaky



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