The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 21 Dec 2022 (Wed)

Singapore Real Estate


Hotel Properties Limited to sell Ming Arcade commercial units for S$61m
Mainboard-listed Hotel Properties Limited (HPL) : H15 -0.56% on Tuesday (Dec 20) announced that it will sell all seven of its shop units in Ming Arcade to Singapore-based Royal Hiranandani for S$61 million.


Optimistic outlook for Singapore’s construction sector; full recovery to take at least a year: Industry players
Singapore: Optimism is building up in Singapore’s construction industry, as it overcomes cost and labour issues brought about by recent global events such as the COVID-19 pandemic and the ongoing war in Ukraine.


Asia-Pacific real estate investment volumes to drop 5-10% in 2023: JLL
Real estate investment volumes will continue to contract by 5 to 10 per cent in 2023 after declining 25 per cent year on year. This forecast is due to “tumultuous” economic and financing conditions weighing on sentiment, said JLL on Tuesday (Dec 20).


Singapore Economy


S’poreans gloomy over economy in 2023 but confident that Covid-19 lockdowns are over: Survey
Singapore — Fewer Singaporeans than a year ago are entering the new year believing it will be better than 2022, with inflation the key worry, according to a new survey on the outlook for 2023.


Singapore’s consumer sector cautiously optimistic about 2023
As much of the world emerges from the shadow of Covid-19, consumer spending in Singapore – by both locals and tourists – is rising. Industry players expect this trend to continue into 2023. The optimism is tempered with caution, however, as inflationary pressures and labour market tightness continue.


S’pore unlikely to face energy price surge despite global demand amid frigid winter: Analysts
Singapore – The Republic is unlikely to experience a surge in energy prices despite greater demand for heating and electricity amid an unusually cold winter in the Northern Hemisphere, industry analysts said.


Global Economy & Real Estate


Economists place 70% chance for US recession in 2023


US housing starts fall for a third month, building permits drop


Recession, rate hikes seen jamming brakes on global 2023 earnings growth


Fall in New Zealand confidence raises spectre of deeper recession


Expats in China now face leave-or-stay dilemma


China Evergrande resumes work on pre-sold projects


Two Chinese property developers to raise funds via discounted share sales


China’s budget deficit hits record 7.75 trillion yuan on Covid zero slump


South Korea’s early trade data shows further export drop in December as global woes mount


Malaysia’s 2022 GDP growth very likely to beat forecasts, says PM

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