The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

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.
https://www.theedgesingapore.com/capital/brokers-calls/govt-measures-property-market-not-worry-now-though-demand-softening-dbs

 

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.
https://www.businesstimes.com.sg/property/sentosa-cove-property-sales-pick-h2-2022
https://www.straitstimes.com/business/sentosa-cove-property-sales-pick-up-in-h2-2022-with-more-bungalows-condo-units-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.
https://www.businesstimes.com.sg/property/reality-check-landlords-rents-may-have-peaked-viewings-decline
https://www.straitstimes.com/business/end-of-sky-high-rents-property-agents-analysts-point-to-signs-of-a-softening-rental-market

 

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.
https://www.businesstimes.com.sg/companies-markets/10-s-reits-lowest-gearing-ratios-average-32-gearing

 

 

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.
https://www.straitstimes.com/business/credit-suisse-to-continue-operating-without-interruption-in-singapore-mas
https://www.businesstimes.com.sg/companies-markets/mas-says-credit-suisses-singapore-operations-unaffected-local-banking-stability
https://www.todayonline.com/singapore/credit-suisse-continue-spore-operations-without-interruption-following-announced-ubs-takeover-mas-2133011
https://www.theedgesingapore.com/news/credit-suisse-crisis/credit-suisse-continue-operating-singapore-no-interruptions-or

 

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.
https://www.channelnewsasia.com/singapore/singapore-residents-positive-overall-quality-life-post-covid-19-pandemic-government-survey-3357876

 

 

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.
https://www.businesstimes.com.sg/companies-markets/asset-manager-anatole-open-singapore-office-report

 

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.
https://www.businesstimes.com.sg/international/asean/capitaland-talks-buy-vietnam-property-assets-vinhomes-sources
https://www.straitstimes.com/business/capitaland-in-talks-to-buy-vietnam-property-assets-worth-2-billion-from-vinhomes-sources

 

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 Mingtiandi.com on Mar 15.
https://www.businesstimes.com.sg/companies-markets/ho-bee-land-says-sale-industrial-assets-not-related-sgx-regcos-query-debt-load

 

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.
https://www.edgeprop.sg/property-news/savills-sees-dip-fy2022-profit-expects-more-positive-conditions-real-estate-2024

 

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.
https://www.edgeprop.sg/property-news/savills-showcases-london-project-embassy-gardens-prices-gbp650000

 

 

Global Economy & Real Estate

 

Fed to stay the course with 25 bps rate hike on March 22, says poll
https://www.businesstimes.com.sg/international/fed-stay-course-25-bps-rate-hike-march-22-says-poll


US Fed to consider pause in rate hikes as fallout from SVB roils markets
https://www.straitstimes.com/world/united-states/fed-to-consider-a-pause-as-fallout-from-svb-roils-markets


The Fed was too late on SVB even though it saw problem after problem
https://www.businesstimes.com.sg/international/fed-was-too-late-svb-even-though-it-saw-problem-after-problem


Lesson from Silicon Valley Bank – even risk-free assets are worth less after interest rates rise
https://www.businesstimes.com.sg/opinion-features/lesson-silicon-valley-bank-even-risk-free-assets-are-worth-less-after-interest


Doubts creep in at US construction’s big show in Las Vegas
https://www.businesstimes.com.sg/property/doubts-creep-us-constructions-big-show-las-vegas


Freehold office building in Soho, London available for sale at GBP50 mil
https://www.edgeprop.sg/property-news/freehold-office-building-soho-london-available-sale-gbp50-mil


Eurozone inflation eases in Feb but core prices pick up
https://www.businesstimes.com.sg/international/eurozone-inflation-eases-feb-core-prices-pick


Credit Suisse brings US bank panic home for European real estate
https://www.businesstimes.com.sg/property/credit-suisse-brings-us-bank-panic-home-european-real-estate


UBS agrees to buy Credit Suisse in Swiss-assisted bid to calm markets
https://www.channelnewsasia.com/business/ubs-agrees-buy-credit-suisse-swiss-assisted-bid-calm-markets-3358511
https://www.theedgesingapore.com/news/credit-suisse-crisis/ubs-offers-buy-credit-suisse-us1-bil-ft


Banks, tech firms in Beijing, Shanghai, Shenzhen to drive demand for prime office space as China’s economy prospers
https://www.scmp.com/business/article/3214061/banks-tech-firms-beijing-shanghai-shenzhen-drive-demand-prime-office-space-chinas-economy-prospers


China’s reopening brings new opportunities for S’pore businesses
https://www.straitstimes.com/business/china-s-reopening-brings-new-opportunities-for-s-pore-businesses


China’s Jan-Feb land sales fall, adds pressure on local governments
https://www.channelnewsasia.com/business/chinas-jan-feb-land-sales-fall-adds-pressure-local-governments-3354566


China’s DCP Capital aims to sell Singapore tech firm MFS for at least $740m: Sources
https://www.straitstimes.com/business/chinas-dcp-capital-aims-to-sell-singapore-tech-firm-mfs-for-at-least-740m-sources


Evergrande gets creditor support for restructuring: sources
https://www.businesstimes.com.sg/property/evergrande-gets-creditor-support-restructuring-sources


Hong Kong must overcome many obstacles to regain former hub glory
https://www.straitstimes.com/business/all-the-obstacles-hong-kong-faces-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
https://www.scmp.com/business/article/3214035/hong-kong-home-sales-extend-post-covid-winning-run-buyers-snap-78-cent-flats-yuen-long-project


Hong Kong homebuyers spurn latest batch of flats in Kai Tak after temporary housing plan at former airport unveiled
https://www.scmp.com/business/money/money-news/article/3213927/hong-kong-homebuyers-spurn-latest-batch-flats-kai-tak-after-temporary-housing-plan-former-airport

 

Disclaimer & Note:

Real Estate Developers’ Association of Singapore (REDAS) 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 REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.

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