Singapore Real Estate
Enhanced town centre, greater connectivity and more green spaces part of Bukit Merah’s facelift
Singapore: Nearly 130,500 residents in Bukit Merah can look forward to the transformation of their town centre and community spaces, as well as enhanced connectivity to green nodes such as the Rail Corridor and Southern Ridges in five to 10 years’ time.
Over 3,500 new private homes set to be launched in Q4
More than 10 private residential projects offering over 3,500 housing units are slated to be launched in the fourth quarter of this year. Prices are likely to hold at current levels, despite signs of homebuyers’ waning appetite, with financing and land costs still high in the wake of market cooling measures, analysts say.
New private home sales shrink in August as Ghost Month, weak sentiment keep buyers away
Developers sold just 394 new private residential units in August, 72.1 per cent lower than July’s sales figures, and also 10 per cent lower year on year. Including executive condominiums (ECs), developers sold 649 units in August, down from the 1,471 units sold the month before, according to data released by the Urban Redevelopment Authority (URA) on Friday (Sep 15).
Pine Grove taking another shot at collective sale with S$1.95 billion guide price
Pine Grove in Holland Road will be put up for collective sale again on Thursday (Sep 14), with a guide price of S$1.95 billion. After taking into account an estimated land betterment charge of S$1 billion for the intensification of land use and lease upgrade for the massive 893,218 sq ft site, the effective land rate for the sale works out to S$1,434 per square foot per plot ratio, said sole marketing agent ERA.
Homes may be added to Marina Square after SingLand applies to rezone site
Singapore – Homes could be added to Marina Square in the coming years, potentially offering future residents views of downtown Singapore and the city skyline.
S-Reits raise their sustainability reporting standards
The S-Reits industry, as with all other sectors, is experiencing growing pressure from investors, tenants, regulators, and other stakeholders to report key environment, social and governance (ESG) information.
Singapore’s key exports down 20.1% in August in 11th straight month of decline
Singapore’s non-oil domestic exports (NODX) slid 20.1 per cent in August, extending July’s 20.3 per cent contraction, data from Enterprise Singapore (EnterpriseSG) showed on Monday (Sep 18). August’s print marked the 11th straight month of contraction, with both electronics and non-electronics exports continuing to decline on a year-on-year basis.
Changi clocks over half a million passenger movements between Singapore and China in August
Air travel traffic between Singapore and China is slowly but surely recovering from the impact of the pandemic, with passenger and flight volumes at Changi Airport now at over 70 per cent of pre-pandemic levels.
Alpina Holdings’ bid to acquire workers’ dorm falls through
Alpina Holdings’ plans to acquire Dacai Pte Ltd, a company that owns a workers’ dormitory, has fallen through. The planned $24 million acquisition of Dacai was first announced by Alpina.
CLI’s flagship regional fund acquires newly-completed Grade A logistics property in South Korea for $112 mil
CapitaLand Open End Real Estate Fund (COREF), the flagship regional core-plus fund of CapitaLand Investment (CLI), has acquired a newly completed, Grade A logistics property in South Korea for $112 million.
Brokers’ take: DBS restarts coverage on Frasers Property with ‘buy’ on record-low valuations
DBS Group Research reinstated coverage on developer Frasers Property with a “buy” call, noting that the stock is trading at a “remarkably cheap valuation” despite its improving fundamentals.
VIEWS, REVIEWS, FORUM AND OTHERS
Smaller contractors may be hit harder by new requirement for suitable accommodation
Smaller contractors may be disproportionately affected by new Ministry of Manpower rules that require employers to provide proof of acceptable accommodation before they can bring new non-Malaysian work permit holders into Singapore.
HSA authorises updated Covid-19 vaccine targeting Omicron subvariants
Singapore – Singaporeans can better protect themselves from the latest strains of Covid-19 from end-October, when stocks of the updated Comirnaty vaccine by Pfizer are expected to arrive.
Global Economy & Real Estate
WHO chief pushes China for ‘full access’ to determine Covid’s origins: FT
Fed will leave rates alone, but changes in Powell’s statement could be just as scary
US consumer sentiment slips again but inflation outlook improves
Higher fuel prices lift US import prices; underlying trend soft
The latest cool amenity? A name brand. How about Porsche?
US homebuyers cancel purchases at highest rate in 10 months
Canadian home sales fall for second month while prices creep higher
Singapore developers, banks could emerge unscathed from China’s property crisis
China’s August land sale revenue falls for 20th straight month
Commentary: Why China’s real estate crisis should make the global travel industry nervous
Worst not over for Chinese property sector, JPMorgan investor survey shows
China’s Zhongrong exposed to struggling property developers: FT
China’s economy shows some signs of stabilising but property slump threatens outlook
Chinese commercial banks fear stimulus measures will do little to stem tide of mortgage prepayments, squeezing margins
Bank of England readies what may be its final rate hike
Hong Kong home price seen falling by 5 per cent after 7 major lenders including HSBC, Standard Chartered set to increase mortgage rates
Hong Kong leader vows to focus on housing, land supply and find long-term solutions to issue of subdivided flats
Hong Kong office landlords grapple with ‘irreversible’ hybrid work trend amid high vacancy rates, supply glut
Luxury Hong Kong seaside homes to be targeted as illegal structures crackdown not limited to Redhill Peninsula, warns development chief
PGIM invests in Hong Kong, mainland China, Australia rental property markets, betting on their strong fundamentals, discounted assets
Sweden bracing for the worst as property storm clouds darken
UK rents surge at record pace as home sellers lift asking prices
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