The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 19 Aug 2022 (Fri)



Swiss Club Road GCB on market for S$39.9m or S$1,874 psf
A freehold bungalow in the Good Class Bungalow (GCB) enclave of Swiss Club Road has come on the market, asking S$39.9 million in a private treaty sale. At that price, the 10,600 sq ft house, sitting on 21,293 sq ft of land, is valued at about S$1,874 per square foot (psf) of land.

Auric Pacific CEO granted option to buy Belmont Road bungalow for S$55.5 million
A freehold bungalow in the Belmont Park Good Class Bungalow (GCB) Area is in the early stage of being sold for S$55.5 million or about S$2,055 per square foot (psf) on its land area of 27,000 sq ft.

Jalan Besar freehold coffee shop up for sale at S$28m guide price
A 2-storey freehold coffee shop unit at Hoa Nam Building is looking for takers at a S$28 million guide price via an expression of interest (EOI) exercise, sole marketing agent Savills Singapore announced on Thursday (Aug 18).

S$1.8b collective sale tender for People’s Park Centre closes without bids
The collective sale tender for People’s Park Centre in Chinatown closed Thursday (Aug 18) without any bids. A spokesman for its marketing agency, ERA Realty Network, told The Straits Times it will be initiating private negotiations with some developers in the next 10 weeks.

Bali Lane shophouse sold for $23 million; record psf price in Kampong Glam area
Singapore – A shophouse in Bali Lane in the Arab Street area, currently occupied by entertainment venue Blu Jaz Cafe, has changed hands for $23 million. Mr Koh Tuck Lye, co-founder of Chinese venture capital firm Shunwei Capital, lodged a caveat earlier this month for the 999-year leasehold shophouse at 11 Bali Lane, according to a property title information search.



Transition to green economy must be orderly to keep inflation in check, job market stable: MAS chief
Decarbonising the global economy will induce inflation and trigger a major reset of the labour market, said Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). However, an orderly transition to a greener economy may help keep both inflationary pressures and the disruption in labour markets manageable, he said in a speech at the Economic Society of Singapore’s annual dinner on Wednesday (Aug 17).



US existing home sales fall for sixth straight month; prices remain elevated

US weekly jobless claims edge lower last week

Fed rate hike of 50 or 75 basis points ‘reasonable’ next month, Daly says

Australia unexpectedly sheds jobs; unemployment hits 3.4%

Goldman Sachs, Nomura cut China GDP forecasts as outlook darkens

China’s biggest builder warns core profit could plunge 70%

China’s first publicly traded rental property Reits snapped up by investors

As China’s economy stumbles, homeowners boycott mortgage payments

China regulator probes banks’ property loan exposure: sources

Japan inflation accelerates as price pressures broaden

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