Singapore Real Estate
0.5% of private residential property sales involve 99-to-1 or similar deals: Chee Hong Tat
Between 2018 and 2021, 0.5 per cent of private residential properties transacted – or one in 200 sales – involved so-called 99-to-1 or similar arrangements, said Senior Minister of State for Finance Chee Hong Tat on Friday (Apr 20).
https://www.businesstimes.com.sg/property/05-private-residential-property-sales-involve-99-1-or-similar-deals-chee-hong-tat
https://www.straitstimes.com/singapore/politics/buyers-in-99-to-1-property-deals-can-voluntarily-pay-absd-iras-will-look-at-cases-more-favourably
https://www.todayonline.com/singapore/05-private-homes-sold-2018-2021-used-991-ownership-arrangement-allowing-buyers-pay-less-tax-2155926
https://www.channelnewsasia.com/singapore/99-1-private-property-absd-iras-tax-avoidance-evasion-stamp-duty-chee-hong-tat-3434271
Executive condos among top percentage gainers in Q1 resale deals
Some executive condominium (EC) homeowners in Singapore’s suburbs or outside central region (OCR) scored solid gains in the first quarter of this year, with properties changing hands for nearly double their original price.
https://www.businesstimes.com.sg/property/executive-condos-among-top-percentage-gainers-q1-resale-deals
Loss-making residential resale deals hit five-year low
The proportion of loss-making residential property transactions in the secondary market fell to its lowest level in five years in the first quarter of 2023, despite rising interest rates and mounting economic headwinds.
https://www.businesstimes.com.sg/property/loss-making-residential-resale-deals-hit-five-year-low
Singapore Economy
Singapore’s success hinges on staying open and relevant to the world: DPM Heng
Singapore – To succeed, Singapore needs to stay open, relevant and useful to the world while growing its economy and dealing with challenges such as an ageing population. Remaining open in this era of contestation enables Singapore to strengthen its own capabilities, said Deputy Prime Minister Heng Swee Keat on Friday.
https://www.straitstimes.com/business/singapore-s-success-hinges-on-staying-open-and-relevant-to-the-world-dpm-heng-swee-keat
New youth panels to develop policy recommendations with the government to be launched this year
Singapore: A new initiative for youths to develop policy recommendations with the government will be launched later this year, Minister for Culture, Community and Youth Edwin Tong said on Friday (Apr 21).
https://www.channelnewsasia.com/singapore/new-youth-panels-develop-policy-recommendations-government-3434586
https://www.todayonline.com/singapore/youth-led-panels-policy-present-parliament-edwin-tong-2155946
Singapore, China to deepen ties for green and transition financing
Singapore – The Monetary Authority of Singapore (MAS) and its Chinese counterpart, the People’s Bank of China, will deepen cooperation in green and transition financing between the two countries.
https://www.straitstimes.com/business/economy/singapore-china-to-deepen-ties-for-green-and-transition-financing
https://www.theedgesingapore.com/news/sustainability/mas-and-peoples-bank-china-establish-green-finance-taskforce
Companies’ Brief
Hongkong Land: Undervalued Hong Kong developer with prime assets
Hongkong Land, a property investment management and development company, is another one of our 10 real estate stock picks, given its high intrinsic value compared to its share price. A subsidiary of Jardine Matheson, Hongkong Land’s Singapore-quoted shares, as at April 18, closed at US$4.42 ($5.90), a fraction of its net asset value (NAV) of US$14.95 as at Dec 31, 2022.
https://www.theedgesingapore.com/capital/global-stocks/hongkong-land-undervalued-hong-kong-developer-prime-assets
Lendlease Global Commercial REIT enters facility agreement for loans of up to EUR300 mil
The manager of Lendlease Global Commercial REIT (LREIT) announced on April 20 that the REIT’s trustee, DBS Trustee Limited, has entered into a facility agreement for senior unsecured sustainability-linked term and revolving credit facilities of up to EUR300 million ($438.81 million).
https://www.theedgesingapore.com/capital/global-stocks/hongkong-land-undervalued-hong-kong-developer-prime-assets
Sabana Reit fields queries on director independence from activist investor, unitholders
The manager of Sabana Industrial Real Estate Investment Trust (Sabana Reit) on Monday (Apr 24) disputed some claims from an open letter written by activist investor Quarz Capital, which holds a 14 per cent deemed interest in the Reit’s units as at Mar 8.
https://www.businesstimes.com.sg/companies-markets/sabana-reit-fields-queries-director-independence-activist-investor-unitholders
Global Economy & Real Estate
US business activity rises to 11-month high in April: S&P Global survey
https://www.businesstimes.com.sg/international/us-business-activity-rises-11-month-high-april-sp-global-survey
Britain’s economy grows at fastest pace in a year: PMI
https://www.businesstimes.com.sg/international/britains-economy-grows-fastest-pace-year-pmi
‘Mild recession’ for UK still a possibility in 2023, but there are enough reasons to be optimistic
https://www.businesstimes.com.sg/international/mild-recession-uk-still-possibility-2023-there-are-enough-reasons-be-optimistic
German public-sector deal sees pay rise for 2.5 million workers
https://www.businesstimes.com.sg/international/german-public-sector-deal-sees-pay-rise-25-million-workers
Australian property prices make surprise recovery, spurred by migrant influx and low supply
https://www.straitstimes.com/asia/australianz/australian-property-prices-make-surprise-recovery-spurred-by-migrant-influx-and-low-supply
Asia-Pacific investors the biggest source of funds for real estate investment in 2022
https://www.businesstimes.com.sg/international/global/asia-pacific-investors-biggest-source-funds-real-estate-investment-2022
US$4.3 tril opportunity for Asia’s businesses in transition economy, but region most vulnerable too: WEF whitepaper
https://www.theedgesingapore.com/news/sustainability/us43-tril-opportunity-asias-businesses-transition-economy-region-most-vulnerable
Signs of hope for China property market, but boom is over: analysts
https://www.businesstimes.com.sg/international/global/signs-hope-china-property-market-boom-over-analysts
https://www.channelnewsasia.com/business/china-property-market-signs-hope-boom-over-3437906
Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
https://www.edgeprop.sg/property-news/hong-kong%E2%80%99s-shui-land-forms-jv-shanghai-redevelopment-project
How gambling hub Macau could cultivate stronger economic ties between China and Portuguese-speaking countries
https://www.scmp.com/economy/china-economy/article/3217910/how-gambling-hub-macau-could-cultivate-stronger-economic-ties-between-china-and-portuguese-speaking
Japan has millions of empty houses. Want to buy one for US$25,000?
https://www.businesstimes.com.sg/property/japan-has-millions-empty-houses-want-buy-one-us25000
South Korea proposes bill to protect victims of rental fraud
https://www.businesstimes.com.sg/property/south-korea-proposes-bill-protect-victims-rental-fraud
https://www.straitstimes.com/asia/east-asia/south-korea-proposes-bill-to-protect-victims-of-rental-fraud
Johoreans urged to wear masks during Hari Raya celebrations amid rise in Covid-19 cases
https://www.straitstimes.com/asia/se-asia/johoreans-urged-to-wear-masks-as-more-cases-reported-amid-hari-raya-celebrations
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