The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 18, 19 & 20 Mar 2023 (Sat, Sun & Mon)

Singapore Real Estate


Govt measures on property market ‘not a worry for now’ though demand is softening: DBS
Government measures on Singapore’s residential property market are “not a worry for now”, say DBS Group Research’s analysts. Hopeful investors should watch upcoming launches, however, as the analysts already note a general softening of demand.


Sentosa Cove property sales pick up in H2 2022
Sales of luxury houses in Sentosa Cove picked up in the second half of 2022 as the high-end landed market softened elsewhere, said a CBRE report on Friday (Mar 17). Bungalow sales on the island jumped almost 60 per cent in value to S$207.5 million, with 10 units sold in the July-December period, from S$130.3 million in the first six months when eight bungalows were sold.


Reality check for landlords as rents may have peaked; viewings decline
Finally, there is some light at the end of the tunnel for tenants, who have been paying ever higher rents for the past two years. While the rental market remains healthy, agents on the ground are reporting fewer viewings, and listings are taking a longer time to secure tenants.


10 S-Reits with lowest gearing ratios average 32% gearing
S-Reits have been in the spotlight over the past week due to recent banking news and ahead of the Federal Open Market Committee (FOMC) meeting on Mar 21-22. The majority of traders in the market are expecting another 0.25 percentage point interest rate increase.



Singapore Economy


Credit Suisse to continue operating without interruption in S’pore following UBS rescue deal: MAS
Singapore – The UBS takeover of Credit Suisse is not expected to impact on the stability of Singapore’s banking system, with the latter to continue operating in Singapore without interruptions and its customers having access to their accounts, the central bank said on Monday.


About 70% of Singapore residents positive about overall quality of life post-pandemic: Government survey
Singapore: More than 70 per cent of Singapore residents who took part in a government survey felt that their overall quality of life was the same or better in 2023, compared with 2019 before the COVID-19 pandemic.



Companies’ Brief


Asset manager Anatole to open Singapore office: report
Hong Kong-based asset manager Anatole plans to open an office in Singapore and may shift some important functions to the city-state, the Financial Times reported, citing unidentified people familiar with the discussions.


CapitaLand in talks to buy Vietnam property assets from Vinhomes: sources
Asian real-estate giant CapitaLand Group is in talks to acquire assets worth roughly US$1.5 billion from Vietnam’s biggest listed property firm Vinhomes, two sources familiar with the matter said. A deal of that size would mark one of the largest real-estate transactions in South-east Asia in the last few years.


Ho Bee Land says sale of industrial assets not related to SGX Regco’s query on debt load
Ho Bee Land said late on Friday (Mar 17) that the recent sale of its industrial assets for S$115 million is not related to its debt load. The disposal is in the group’s “ordinary course of business”, the real estate company said in a bourse filing, which set out to flag multiple inaccuracies in an article published on investment news platform on Mar 15.


Savills sees dip in FY2022 profit, expects ‘more positive conditions’ for real estate in 2024
Singapore (EdgeProp) – International real estate advisory firm Savills has announced its preliminary financial results for FY2022 ended Dec 31, 2022. The company reported group revenue of GBP2.3 billion ($3.57 billion), marking a 7% y-o-y increase from GBP2.15 billion in FY2021. However, underlying profit before tax fell 18% y-o-y, coming in at GBP164.6 million.


Savills showcases London project Embassy Gardens, prices from GBP650,000
Singapore (EdgeProp) – Savills Singapore is marketing homes at Embassy Gardens, a mixed-use development in Nine Elms, Central London. The firm is hosting a property exhibition showcasing the development from March 18 to 24 at the Savills office at Prudential Tower.



Global Economy & Real Estate


Fed to stay the course with 25 bps rate hike on March 22, says poll

US Fed to consider pause in rate hikes as fallout from SVB roils markets

The Fed was too late on SVB even though it saw problem after problem

Lesson from Silicon Valley Bank – even risk-free assets are worth less after interest rates rise

Doubts creep in at US construction’s big show in Las Vegas

Freehold office building in Soho, London available for sale at GBP50 mil

Eurozone inflation eases in Feb but core prices pick up

Credit Suisse brings US bank panic home for European real estate

UBS agrees to buy Credit Suisse in Swiss-assisted bid to calm markets

Banks, tech firms in Beijing, Shanghai, Shenzhen to drive demand for prime office space as China’s economy prospers

China’s reopening brings new opportunities for S’pore businesses

China’s Jan-Feb land sales fall, adds pressure on local governments

China’s DCP Capital aims to sell Singapore tech firm MFS for at least $740m: Sources

Evergrande gets creditor support for restructuring: sources

Hong Kong must overcome many obstacles to regain former hub glory

Hong Kong home sales extend post-Covid winning run as buyers snap up 78 per cent of flats in Yuen Long project

Hong Kong homebuyers spurn latest batch of flats in Kai Tak after temporary housing plan at former airport unveiled


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