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 Feb 2023 (Tue)

Singapore Real Estate


Orchard Towers collective sale falls through
An attempt for the collective sale of Orchard Towers has failed to obtain the requisite 80 per cent consent from unit owners, according to mainboard-listed property developer Hiap Hoe. Hiap Hoe, whose subsidiary Golden Bay Realty owns 59 strata lots – comprising 21 shops and 38 offices – at Orchard Towers, said in a bourse filing on Monday (Feb 20) it had been informed that the proposed deal had fallen through.

Is there relative value with suburban landed homes?
Private homes in Singapore are expensive. Still, savvy home buyers may find relative value in certain segments. Could a suburban landed home be a good buy? In 2022, private home prices rose 8.6 per cent, after having increased 10.6 per cent in 2021.



Singapore Economy

Singapore can pay for higher social spending without hiking income taxes for the time being: analysts
Singapore’s ambitious social agenda can continue to be funded without drastic new tax moves – at least in the near future, watchers have told The Business Times. But if new policies require more revenue, possible sources include further goods and services tax (GST) hikes and property-related taxes.

Singapore firms gloomier about H1 after poorer Q4 performance: BT-SUSS poll
Business sentiment for the next six months has become gloomier as firms’ performance worsened further from a quarter ago, the latest Business Times-Singapore University of Social Sciences (BT-SUSS) Business Climate Survey has found.



Companies’ Brief


Frasers Property’s board should act with some urgency to address weak share price
Frasers Property (FPL) has started the year off by showing, once again, that it is a good real estate investment trust (Reit) sponsor. But its minority shareholders may now want the group to turn its attention to the value of FPL’s shares.

Genting Singapore H2 net profit more than doubles to S$255.7 million on travel recovery momentum
Integrated Resort (IR) operator Genting Singapore’s net profit for its second half (H2) has more than doubled, thanks to increased gaming and non-gaming revenue from the growth of Singapore’s international tourist arrivals.

Brokers’ take: DBS initiates coverage on Hotel Properties Limited, portfolio primed for revenge travel
DBS on Monday (Feb 20) initiated coverage on Hotel Properties Limited (HPL), as analysts said the group’s prime hotel portfolio in tourist hotspots and countries with relaxed Covid-19 policies would make it a key beneficiary from a return of Chinese tourists.



Global Economy & Real Estate


New Zealand set to moderate tightening pace as inflation peaks

Developing countries’ debt troubles in focus at G20 talks, says Germany’s finance minister

Portugal to force owners of vacant homes to find tenants

Asia central banks may need to keep hiking interest rates if core inflation stays high: IMF

China launches pilot scheme to boost private investment in real estate

Hong Kong’s budget dilemma is how to revive city and cut deficit

Taiwan January export orders fall more slowly, downside risks remain 

Japan yields rise after spike in Treasuries

Japan’s factory activity shrinks at fastest pace in 2-1/2 years-PMI

Will Japan lose top talent to Singapore, Hong Kong, London over weak yen and lower pay?

South Korea’s early trade data show export slump persisting

Malaysia PM Anwar’s first budget on Friday: Five things to watch out for


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