SINGAPORE REAL ESTATE
New private home sales sink further in November amid holiday lull
Sales of new private homes continued to sink in November, setting a new low amid a dearth of launches and the traditional year-end holiday lull.
https://www.businesstimes.com.sg/property/new-private-home-sales-sink-further-november-amid-holiday-lull
https://www.straitstimes.com/business/s-pore-new-private-home-sales-slide-to-8-year-low-in-november-on-lack-of-new-launches-year-end-lull
https://www.channelnewsasia.com/singapore/new-private-home-sales-november-fall-lowest-2014-december-ura-3146471
GCB volumes next year expected to be similar to 2022 levels amid price gap
The volume of transactions in Good Class Bungalow (GCB) areas next year is expected to be about the same as this year, amid a widening price gap between buyers and sellers.
https://www.businesstimes.com.sg/property/gcb-volumes-next-year-expected-be-similar-2022-levels-amid-price-gap
Reviving the Singapore construction sector with data
The construction sector in Singapore is in a delicate position. The past two years have brought unprecedented challenges, with the shortfall in resources, fluctuating raw material costs, project delays, and supply chain issues blowing budgets out and leading to sectoral insolvencies.
https://www.businesstimes.com.sg/opinion-features/reviving-singapore-construction-sector-data
Brokers’ take: DBS expects S-Reits to navigate rate hikes, currency headwinds well
Singapore-listed real estate investment trusts (S-Reits) have ample defences against sustained interest rate hikes until late 2023, DBS Group Research said on Thursday (Dec 15). This comes as the research team expects Singapore’s economy to slow in 2023, resulting in more cautious business consumer sentiment.
https://www.businesstimes.com.sg/companies-markets/brokers-take-dbs-expects-s-reits-navigate-rate-hikes-currency-headwinds-well
https://www.theedgesingapore.com/news/reits/singapore-reits-will-be-resilient-2023-amid-payouts-dbs-says
SINGAPORE ECONOMY
Singapore exports fall again by 14.6% in November, more than expected
Singapore’s non-oil domestic exports (NODX) contracted by 14.6 per cent on the year in November from a high year-ago base, going by Enterprise Singapore (EnterpriseSG) data on Friday (Dec 16). The month’s decline far outstripped the median 6.5 per cent decline forecast by private-sector economists in a Bloomberg poll.
https://www.businesstimes.com.sg/singapore/singapore-exports-fall-again-146-november-more-expected
https://www.straitstimes.com/business/singapore-non-oil-exports-fall-146-in-november-worse-than-expected
Layoffs in Singapore rise to 1,120 in Q3, driven by tech firms
Retrenchments in Singapore increased in the third quarter of this year, up from the previous quarter’s record low, while the overall tightness in the labour market eased with job vacancies dropping for a second straight quarter.
https://www.straitstimes.com/singapore/jobs/layoffs-in-singapore-rise-to-1120-in-q3-driven-by-tech-firms
https://www.todayonline.com/singapore/retrenchments-jump-35-q3-largely-due-layoffs-tech-sector-mom-2072351
Singapore to host global sustainable tourism conference for first time in 2024
The push to make Singapore a green destination will get another boost when it hosts the Global Sustainable Tourism Council (GSTC) global conference for the first time in November 2024.
https://www.straitstimes.com/singapore/consumer/singapore-to-host-global-sustainable-tourism-conference-for-the-first-time-in-2024
Unequal inflation: Why rising prices aren’t the same for everyone, and the impact on purchasing power
Inflation is typically defined as a generalised and sustained increase in prices across the economy, but prices rarely change evenly across all goods and services at the same time, or affect everyone in the same way.
https://www.straitstimes.com/business/unequal-inflation-why-rising-prices-aren-t-the-same-for-everyone-and-the-impact-on-purchasing-power
COMPANIES’ BRIEF
CDL buys five UK student dorms for £215m
City Developments Limited (CDL) has made further inroads to the student accommodation sector in the United Kingdom (UK), with the acquisition of five such assets for £215 million (S$357 million).
https://www.businesstimes.com.sg/companies-markets/cdl-buys-five-uk-student-dorms-ps215m
https://www.straitstimes.com/business/cdl-buys-five-uk-student-dorms-for-357-million
Chip Eng Seng units grant real estate funds group options to purchase Australian hotel
Two units of Chip Eng Seng Corp have granted entities of an Australian real estate fund management group options to purchase (OTPs) its hotel property and business in Western Australia for A$18 million (S$16.5 million).
https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-units-grant-real-estate-funds-group-options-purchase-australian
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US mortgage rates drop for a fifth straight week
https://www.businesstimes.com.sg/property/us-mortgage-rates-drop-fifth-straight-week
Even after latest rate hike, Fed won’t let guard down against inflation
https://www.businesstimes.com.sg/international/even-after-latest-rate-hike-fed-wont-let-guard-down-against-inflation
Analysts favour US equities, dollar as Fed remains hawkish
https://www.businesstimes.com.sg/companies-markets/analysts-favour-us-equities-dollar-fed-remains-hawkish
ECB slows rate hikes, but pledges continued inflation fight
https://www.businesstimes.com.sg/international/ecb-slows-rate-hikes-pledges-continued-inflation-fight
https://www.straitstimes.com/business/ecb-slows-rate-hikes-boe-raises-key-rate-to-14-year-high-as-central-banks-continue-inflation-fight
BOE raises key rate a half point to 3.5%, highest since 2008
https://www.businesstimes.com.sg/international/boe-raises-key-rate-half-point-35-highest-2008
China’s home-price slump persists as buyer demand remains weak
https://www.businesstimes.com.sg/international/chinas-home-price-slump-persists-buyer-demand-remains-weak
Housing prices in Asia-Pacific ‘misaligned’ and at a turning point: IMF
https://www.businesstimes.com.sg/international/global/housing-prices-asia-pacific-misaligned-and-turning-point-imf
Philippines signals more rate action after half-point move
https://www.businesstimes.com.sg/international/asean/philippines-signals-more-rate-action-after-half-point-move
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Real Estate Developers’ Association of Singapore 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 Real Estate Developers’ Association of Singapore. Every effort is taken to ensure that all information extracted is correct at the time of dissemination 16 Dec, 2022.