SINGAPORE REAL ESTATE
Grade A office rents to maintain strong growth trajectory as vacancies fall: Savills
Rental of Grade A offices in Singapore’s Central Business District (CBD) will maintain a strong growth trajectory in the near term, as demand increases and vacancy levels contract further in Q3, according to a Wednesday (Oct 19) report by Savills Research.
https://www.businesstimes.com.sg/real-estate/grade-a-office-rents-to-maintain-strong-growth-trajectory-as-vacancies-fall-savills
Upcoming Q3 results will be pivotal following one of the worst market routs since S-Reits’ inception
Amid one of the worst sell-offs in the 20-year history of Singapore-listed real estate investment trusts (S-Reits), market watchers are paying special attention as S-Reits start to release their results and quarterly business updates for the period ended Sep 30.
https://www.businesstimes.com.sg/companies-markets/upcoming-q3-results-will-be-pivotal-following-one-of-the-worst-market-routs-since
SINGAPORE ECONOMY
S’pore: Staying relevant and resilient in a deglobalising world
Like many other countries in the developed and developing world, Singapore has been a tremendous beneficiary of globalisation. We have thrived on openness to the world, as Deputy Prime Minister Lawrence Wong observed in a speech on Tuesday at the Singapore Economic Policy Forum.
https://www.straitstimes.com/opinion/s-pore-staying-relevant-and-resilient-in-a-deglobalising-world
70% of Singaporeans concerned about higher household expenses: Study
Singapore – Nearly 70 per cent of Singaporeans are concerned about higher household expenses, according to a recent study by UOB. This is an increase of 11 percentage points from last year, owing to rising inflation and an uncertain economic climate.
https://www.straitstimes.com/business/economy/70-of-singaporeans-concerned-about-higher-household-expenses-study
COMPANIES’ BRIEF
GIC says global recession scenario possible, eyes Australia opportunities
Singapore sovereign wealth fund GIC, one of the world’s biggest investors, said it is factoring in the potential for a global recession and was prepared to stress-test its portfolio if need be. GIC chief executive Lim Chow Kiat told Reuters in an interview that rising inflation poses a big risk and that central banks needed to get it under control to ensure global economic stability.
https://www.businesstimes.com.sg/government-economy/gic-says-global-recession-scenario-possible-eyes-australia-opportunities
Easier to justify construction greening costs in Singapore: Lendlease CEO, Asia
Lendlease strategically focuses on larger projects in more expensive markets like Singapore as they are better able to absorb the additional cost associated with greening the built environment, said Lendlease’s chief executive officer (CEO) for Asia, Justin Gabbani.
https://www.businesstimes.com.sg/companies-markets/easier-to-justify-construction-greening-costs-in-singapore-lendlease-ceo-asia
Sabana Industrial Reit’s occupancy hits 89.1% for Q3 2022
Sabana Industrial real estate investment trust’s (Reit) third quarter 2022 occupancy has hit a high of 89.1 per cent, a level not seen since Q3 2017. Without 1 Tuas Avenue 4, which is undergoing asset enhancement, total occupancy would have been 92.2 per cent.
https://www.businesstimes.com.sg/companies-markets/sabana-industrial-reits-occupancy-hits-891-for-q3-2022
GLOBAL ECONOMY & GLOBAL REAL ESTATE
WHO says Covid-19 is still a global health emergency
https://www.businesstimes.com.sg/government-economy/who-says-covid-19-is-still-a-global-health-emergency
Fed says economy grew modestly but recession worry dims outlook
https://www.businesstimes.com.sg/government-economy/fed-says-economy-grew-modestly-but-recession-worry-dims-outlook
https://www.straitstimes.com/business/economy/us-fed-says-firms-gloomier-on-outlook-but-inflation-pressures-easing
US housing starts decline as mortgage rates weigh on demand
https://www.businesstimes.com.sg/real-estate/us-housing-starts-decline-as-mortgage-rates-weigh-on-demand
Mortgage rates in US extend climb to 6.94%, highest since 2002
https://www.businesstimes.com.sg/real-estate/mortgage-rates-in-us-extend-climb-to-694-highest-since-2002
US housing starts decline as mortgage rates weigh on demand
https://www.businesstimes.com.sg/real-estate/us-housing-starts-decline-as-mortgage-rates-weigh-on-demand
Surprisingly hot Canada inflation of 6.9% adds to rate pressure
https://www.businesstimes.com.sg/government-economy/surprisingly-hot-canada-inflation-of-69-adds-to-rate-pressure
Offices in New York, nationwide hit peak post-pandemic occupancy
https://www.businesstimes.com.sg/real-estate/offices-in-new-york-nationwide-hit-peak-post-pandemic-occupancy
A £52b jump in mortgage costs fuels risk for UK lenders
https://www.businesstimes.com.sg/real-estate/a-52b-jump-in-mortgage-costs-fuels-risk-for-uk-lenders
Property funds to sell assets to help stricken UK pensions
https://www.businesstimes.com.sg/real-estate/property-funds-to-sell-assets-to-help-stricken-uk-pensions
UK inflation returns to double digits as food prices soar
https://www.businesstimes.com.sg/government-economy/uk-inflation-returns-to-double-digits-as-food-prices-soar
Sweden’s US$41b property debt is alarming Europe
https://www.businesstimes.com.sg/real-estate/swedens-us41b-property-debt-is-alarming-europe
Australia’s stalled hiring supports shift to slower rate hikes
https://www.businesstimes.com.sg/government-economy/australias-stalled-hiring-supports-shift-to-slower-rate-hikes
Japan’s Sept imports jump 45.9% y-o-y to record: MOF
https://www.businesstimes.com.sg/government-economy/japans-sept-imports-jump-459-y-o-y-to-record-mof
https://www.straitstimes.com/business/japan-imports-surge-to-record-on-weaker-yen-fanning-inflation-fears
China city eases rules to address population, property slowdown
https://www.businesstimes.com.sg/real-estate/china-city-eases-rules-to-address-population-property-slowdown
China’s delayed GDP data release fuels speculation over economic health
https://www.straitstimes.com/asia/east-asia/china-s-delayed-gdp-data-release-fuels-speculation-over-economic-health
HK tries to reverse expat exodus with housing tax cut, new visa
https://www.businesstimes.com.sg/global-enterprise/mobile-spotlight/hk-tries-to-reverse-expat-exodus-with-housing-tax-cut-new-visa
https://www.straitstimes.com/asia/east-asia/hong-kong-visas-property-set-to-dominate-john-lee-s-policy-speech
Malaysia’s trade surplus in September hits record high
https://www.businesstimes.com.sg/asean-business/malaysias-trade-surplus-in-september-hits-record-high