Singapore Real Estate
New private residential units sold in January jump after December dip, still down 42.8% year on year
Sales of new private residential units in January made a strong recovery from the low volumes in December last year, with volume partly driven by returning demand from Chinese buyers.
https://www.businesstimes.com.sg/property/new-private-residential-units-sold-january-jump-after-december-dip-still-down-428-year
https://www.straitstimes.com/business/new-private-home-sales-up-in-january-on-sceneca-residence-s-robust-sales
https://www.channelnewsasia.com/singapore/private-housing-home-sales-units-january-2023-ura-3279906
https://www.edgeprop.sg/property-news/january-new-home-sales-rebounds-130-buoying-confidence-upcoming-new-launches
At least 40 buyers rush to secure condo purchases before new buyer’s stamp duties kick in
Singapore – At least 40 new private home sales, mostly in the prime districts, were inked on the evening of Feb 14, as some buyers rushed to bring forward their purchases before buyer’s stamp duties (BSD) are raised the next day, according to ERA Realty Network.
https://www.straitstimes.com/business/rush-for-otps-for-prime-district-condos-on-feb-14-before-new-buyer-s-stamp-duties-kick-in
Horizon Towers takes another shot at S$1.1 billion en bloc sal
Horizon Towers has been relaunched for collective sale again at an unchanged reserve price of S$1.1 billion. Including an estimated lease top-up premium of S$277 million, this works out to a S$2,049 per square foot per plot ratio (psf ppr) for the 204,742 sq ft site.
https://www.businesstimes.com.sg/property/horizon-towers-takes-another-shot-s11-billion-en-bloc-sale
Shophouse on Hongkong Street on the market for $10.1 mil
Singapore (EdgeProp) – A shophouse at 18 Hongkong Street, located off Boat Quay in prime District 1, is up for sale with an asking price of $10.1 million. The four-storey walk-up property has an existing gross floor area (GFA) of 5,074 q ft, inclusive of outdoor balconies on the second, third and fourth floors. Hence, the asking price works out to $1,991 psf based on the existing GFA.
https://www.edgeprop.sg/property-news/shophouse-hongkong-street-market-101-mil
Additional BTO ballot chance for ‘prioritised first-timers’ a fairer move than reserving more flats for them: Analysts
Singapore — It is better to give Built-to-Order (BTO) flat applicants who are “prioritised first-timers” another ballot chance rather than allocating more units in such public housing developments to them, property analysts said.
https://www.todayonline.com/singapore/prioritised-first-timers-hdb-bto-flats-2109006
Singapore Budget 2023
Budget 2023: Highlights of spending plans by 7 ministries for the year ahead
Singapore – Budget 2023 contains various measures to help tide Singaporeans over immediate cost-of-living pressures, as well as to grow the economy, equip workers with skills, strengthen Singapore’s social compact and build a more resilient nation
https://www.straitstimes.com/singapore/budget-2023-highlights-of-spending-plans-by-ministries-for-the-year-ahead
Singapore Budget 2023: Equipping Singaporeans for uncertain times ahead
This year’s Budget is about equipping Singaporeans to weather formidable challenges expected as a result of heightened global uncertainty. However, Singapore will not need to draw on past reserves after doing so for the last three financial years as the country normalises after the pandemic.
https://www.straitstimes.com/multimedia/graphics/2023/02/singapore-budget-revenue-and-spending-breakdown-2023/index.html?shell
Companies’ Brief
Chip Eng Seng loses free float, to be delisted
Property player Chip Eng Seng : C29 0% said on Wednesday (Feb 15) that it has lost its free float and will be delisted, after obtaining 90.19 per cent valid acceptances to privatise. This translates to 708.27 million shares, as at 6 pm on Tuesday. That means that less than 10 per cent of its shares are now held by the public.
https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-loses-free-float-be-delisted
https://www.theedgesingapore.com/news/company-news/celine-and-gordon-tang-privatise-chip-eng-seng-acceptance-crossing-90
Analysts lift Far East Hospitality Trust’s TP on the back of higher FY2022 DPS
Analysts are remaining positive on Far East Hospitality Trust’s (FEHT) prospects after the hospitality REIT reported a 24.3% y-o-y increase in its distribution per stapled security (DPS) for the FY2022 ended Dec 31, 2022.
https://www.theedgesingapore.com/capital/brokers-calls/analysts-lift-far-east-hospitality-trusts-tp-back-higher-fy2022-dps
Straits Trading’s secured exchangeable bonds 1.9 times subscribed
Straits Trading’s S$370 million secured exchangeable bond offering has received applications for 1.9 times the amount on offer, the company said on Monday (Feb 13). This puts the total demand from investors in terms of value at approximately S$700 million. (*see amendment note)
https://www.businesstimes.com.sg/companies-markets/straits-tradings-secured-exchangeable-bonds-19-times-subscribed
Global Economy & Real Estate
US home builder confidence extends rebound in February, NAHB says
https://www.businesstimes.com.sg/property/us-home-builder-confidence-extends-rebound-february-nahb-says
US economy keeps charging ahead, adding pressure on Fed to hike
https://www.businesstimes.com.sg/international/us-economy-keeps-charging-ahead-adding-pressure-fed-hike
US manufacturing output surges in January
https://www.businesstimes.com.sg/international/us-manufacturing-output-surges-january
US retail sales rebound strongly in January
https://www.businesstimes.com.sg/international/us-retail-sales-rebound-strongly-january
Home price drop hits 15% in Canada as rates squeeze buyers
https://www.businesstimes.com.sg/property/home-price-drop-hits-15-canada-rates-squeeze-buyers
UK house prices up 9.8% in year to December
https://www.businesstimes.com.sg/property/uk-house-prices-98-year-december
UK inflation rate falls more than expected to 10.1%
https://www.businesstimes.com.sg/international/uk-inflation-rate-falls-more-expected-101
https://www.channelnewsasia.com/world/uk-inflation-rate-falls-more-expected-101-3279696
Germany to hike defence budget by up to US$10.7 billion in 2024
https://www.businesstimes.com.sg/international/germany-hike-defence-budget-us107-billion-2024
National Australia Bank says rates will soften economy, house prices as profit jumps
https://www.businesstimes.com.sg/international/national-australia-bank-says-rates-will-soften-economy-house-prices-profit-jumps
Asia’s central banks rebuild reserves as Fed rate bets accelerate
https://www.businesstimes.com.sg/international/asias-central-banks-rebuild-reserves-fed-rate-bets-accelerate
China home prices hold steady after declining for 16 months
https://www.businesstimes.com.sg/property/china-home-prices-hold-steady-after-declining-16-months
Japan’s trade deficit smashes record amid global slowdown
https://www.straitstimes.com/business/japan-s-trade-deficit-smashes-record-amid-global-slowdown
https://www.businesstimes.com.sg/international/japans-trade-deficit-smashes-record-topping-3-trillion-yen
https://www.channelnewsasia.com/business/japan-logs-record-merchandise-trade-deficit-jan-export-growth-slows-3282076
South Korea’s house price decline slows in January on policy support
https://www.businesstimes.com.sg/property/south-koreas-house-price-decline-slows-january-policy-support
Thailand economy recovering steadily, tourism to drive 2023 growth
https://www.businesstimes.com.sg/international/asean/thailand-economy-recovering-steadily-tourism-drive-2023-growth
https://www.channelnewsasia.com/business/economic-growth-slowed-tourism-reliant-thailand-q4-reuters-poll-3282146
Malaysia to focus on living costs, raising wages as growth slows
https://www.businesstimes.com.sg/international/malaysia-focus-living-costs-raising-wages-growth-slows
https://www.straitstimes.com/asia/se-asia/malaysia-to-focus-on-living-costs-raising-wages-as-growth-slows-ahead-of-looming-state-polls
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