Singapore Real Estate
Should we expect an uneventful Budget for Singapore property?
Many people here celebrate everyone’s birthday on “renri” which is the seventh day of the Chinese New Year. For the upcoming Year of the Dragon, the seventh day of the new year falls on Feb 16.
https://www.businesstimes.com.sg/property/should-we-expect-uneventful-budget-singapore-property
Retail rents rebound on spending recovery, expected to rise further in 2024
Singapore retail landlords saw rents rebound in 2023 from their pandemic lows, as tourists returned and domestic spending recovered. While inflationary pressures and the higher Goods and Services Tax (GST) may have a short-term impact, they are unlikely to dampen retail spending and push rents downwards, said market watchers.
https://www.businesstimes.com.sg/property/retail-rents-rebound-spending-recovery-expected-rise-further-2024
Young Singapore brands need a sandbox to grow in, to survive the unforgiving retail jungle
An interesting phenomenon that surfaced during the Covid pandemic was the sudden spike in local private enterprise in the retail and food and beverage (F&B) sectors. Between 2020 and 2021, there were 23,433 new business registrations and 14,275 business cessations recorded, making for a net increase of 9,158 new startups during those two difficult years.
https://www.businesstimes.com.sg/property/young-singapore-brands-need-sandbox-grow-survive-unforgiving-retail-jungle
The changing face of Orchard Road
Singapore’s prime retail belt has changed greatly over the years. Malls have been made over, hotels rebranded, and storied brands have exited. In the space of the last 12 months, two buildings have been sold, and a third is on the market.
https://www.businesstimes.com.sg/specials/2024/the-changing-face-of-orchard-road/index.html
Companies’ Brief
Ascott bags over 20 new signings under Oakwood portfolio since H2 2022
The Ascott Limited, CapitaLand Investment (CLI) lodging business unit, has secured over 3,000 units across more than 20 properties under its Oakwood portfolio of brands since the second half of 2022.
https://www.businesstimes.com.sg/property/ascott-bags-over-20-new-signings-under-oakwood-portfolio-h2-2022
https://www.theedgesingapore.com/capital/company-news/ascott-expands-oakwood-portfolio-over-20-following-acquisition-2h2022
Marina Bay Sands to invest US$750 million in Phase 2 of reinvestment programme
Marina Bay Sands (MBS) announced on Thursday (Jan 18) that it will invest US$750 million in the second phase of its ongoing reinvestment programme, with a focus on enhancements to its third hotel tower, the hotel lobby, as well as the rooftop Sands SkyPark.
https://www.businesstimes.com.sg/singapore/marina-bay-sands-invest-us750-million-phase-2-reinvestment-programme
Global Economy & Real Estate
US businesses ‘optimistic’ about interest rates cuts: Federal Reserve
https://www.businesstimes.com.sg/international/us-businesses-optimistic-about-interest-rates-cuts-federal-reserve
US economic performance ‘vindicates’ heavy Covid-era spending, says Yellen
https://www.businesstimes.com.sg/international/us-economic-performance-vindicates-heavy-covid-era-spending-says-yellen
US import prices unchanged in December
https://www.businesstimes.com.sg/international/us-import-prices-unchanged-december
US retail sales beat expectations in December
https://www.businesstimes.com.sg/international/us-retail-sales-beat-expectations-december
https://www.straitstimes.com/business/retail-sales-in-us-beats-expectations-in-december
US homebuilder confidence jumps by the most in 11 months
https://www.businesstimes.com.sg/property/us-homebuilder-confidence-jumps-most-11-months
US home-purchase applications climb to an almost six-month high
https://www.businesstimes.com.sg/property/us-home-purchase-applications-climb-almost-six-month-high
Citigroup sees Fed’s first rate cut in June
https://www.businesstimes.com.sg/international/citigroup-sees-feds-first-rate-cut-june
For many in China, the economy feels like it is in recession
https://www.channelnewsasia.com/business/many-china-economy-feels-it-recession-4055866
China’s slumping commercial property market is attracting bargain hunters
https://www.businesstimes.com.sg/property/chinas-slumping-commercial-property-market-attracting-bargain-hunters
China home prices fall most since 2015 as downturn persists
https://www.businesstimes.com.sg/property/china-home-prices-fall-most-2015-downturn-persists
https://www.channelnewsasia.com/business/china-december-new-home-prices-fall-fastest-pace-property-sector-4053206
Luxury’s rebound is proving elusive as China gloom adds to warnings
https://www.businesstimes.com.sg/international/global/luxurys-rebound-proving-elusive-china-gloom-adds-warnings
Hong Kong won’t impose departure tax, says finance chief
https://www.businesstimes.com.sg/international/hong-kong-wont-impose-departure-tax-says-finance-chief
Hong Kong rebounds in expat liveability rankings but Singapore keeps crown as No 1 spot
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3248811/hong-kong-rebounds-expat-liveability-rankings-singapore-keeps-crown-no-1-spot
From 3.8 million to 25 million visitors: Japan’s economy gets tourism boost in 2023
https://www.businesstimes.com.sg/international/global/38-million-25-million-visitors-japans-economy-gets-tourism-boost-2023
https://www.channelnewsasia.com/asia/japan-sees-record-273-million-visitors-december-covid-19-recovery-year-4053936
Exclusive-Half of Japan firms look at restructuring to boost performance
https://www.channelnewsasia.com/business/exclusive-half-japan-firms-look-restructuring-boost-performance-4055851
Malaysia to review migrant labour deals to stamp out exploitation
https://www.channelnewsasia.com/asia/malaysia-migrant-workers-exploitation-review-migrant-labour-deals-4053321
New Zealand houses are selling faster as buyers return to the market
https://www.businesstimes.com.sg/property/new-zealand-houses-are-selling-faster-buyers-return-market
Swedish housing construction weakens again after stabilisation
https://www.businesstimes.com.sg/property/swedish-housing-construction-weakens-again-after-stabilisation
UK inflation rises unexpectedly, tempering talk of rate cuts
https://www.businesstimes.com.sg/international/uk-inflation-rises-unexpectedly-tempering-talk-rate-cuts
https://www.straitstimes.com/business/economy/uk-inflation-rises-unexpectedly-tempering-talk-of-rate-cuts
UK house prices fall by the most since 2011: ONS
https://www.businesstimes.com.sg/property/uk-house-prices-fall-most-2011-ons
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