Singapore Real Estate
Singapore residential property ‘fairly valued’: UBS
Singapore’s private residential property market is now “fairly valued”, after price dynamics slowed in recent quarters, a recent UBS report said. Real prices have risen by 15 per cent since 2018, despite regulatory tightening, while rents have shot up by roughly 40 per cent in the same period, UBS said.
https://www.businesstimes.com.sg/property/singapore-residential-property-fairly-valued-ubs
Why using ‘loopholes’ to invest in property doesn’t pay
Trying to find legal loopholes to dodge paying stamp duty when buying property can be a risky business that is more likely to leave you tied in financial knots. Just following the rules might sound too passive and unimaginative for some, but it’s a lot better than getting embroiled in a legal wrangle later.
https://www.straitstimes.com/business/invest/why-using-loopholes-to-invest-in-property-doesn-t-pay
Mercatus said to have put 18 assets in HDB estates up for sale at S$265m guide price
NTUC Enterprise unit Mercatus is understood to have quietly put on the market a portfolio of 18 commercial properties in Housing and Development Board (HDB) estates. The properties have a total indicative price of around S$265 million, The Business Times understands.
https://www.businesstimes.com.sg/property/mercatus-said-have-put-18-assets-hdb-estates-sale-s265m-guide-price
https://www.straitstimes.com/business/ntuc-unit-said-to-have-put-18-properties-in-hdb-estates-up-for-sale-at-265m-guide-price
Upgraded town centre, enhanced connectivity part of rejuvenation plan for Ang Mo Kio
Singapore – Residents in Ang Mo Kio can look forward to a revitalised town centre with new community spaces and enhanced connectivity, under the Remaking Our Heartland (ROH) plan for the town.
https://www.straitstimes.com/singapore/upgraded-town-centre-enhanced-connectivity-in-rejuvenation-plans-for-ang-mo-kio
https://www.channelnewsasia.com/singapore/ang-mo-kio-hdb-upgrades-rejuvenating-heartlands-town-centre-garden-loop-trail-connectivity-3791916
Companies’ Brief
CapitaLand Ascott Trust completes divestment of four properties in France for EUR44.4 mil
CapitaLand Ascott Trust (CLAS) has completed the divestment of four of its properties in regional France for EUR44.4 million ($64.7 million).
https://www.theedgesingapore.com/news/reits/capitaland-ascott-trust-completes-divestment-four-properties-france-eur444-mil
https://www.businesstimes.com.sg/companies-markets/capitaland-ascott-trust-completes-sale-four-french-properties-444-million-euros
FEHT eyes maiden overseas acquisitions, but Singapore will remain key focus
Buoyed by a strong hospitality rebound and a cleaner balance sheet, (FEHT) is ready to look for overseas acquisitions – though it intends to stay grounded in Singapore.
https://www.businesstimes.com.sg/companies-markets/feht-eyes-maiden-overseas-acquisitions-singapore-will-remain-key-focus
Frasers Centrepoint Trust to divest 143.9 million units in Malaysia’s Hektar Reit, cuts holding to 2.1%
HSBC Institutional Trust Services (Singapore), the trustee of Frasers Centrepoint Trust (FCT), has entered into a sales and purchase agreement to divest 143.9 million units in Malaysia’s Hektar Real Estate Investment Trust (Hektar Reit) for RM128.1 million (S$37.4 million) to unrelated third parties, the trust’s manager said on Friday (Sep 22).
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trust-divest-1439-million-units-malaysias-hektar-reit-cuts
https://www.theedgesingapore.com/news/reits/frasers-centrepoint-trust-announces-proposed-divestment-2885-hektar-reit
Global Economy & Real Estate
Central banks in no rush to cut interest rates
https://www.businesstimes.com.sg/international/central-banks-no-rush-cut-interest-rates
More rate hikes needed to ensure ‘timely’ inflation control: Fed governor Bowman
https://www.businesstimes.com.sg/international/more-rate-hikes-needed-ensure-timely-inflation-control-fed-governor-bowman
https://www.straitstimes.com/business/economy/us-fed-officials-flag-further-hikes-even-after-holding-steady
Why US hotels are missing more than 238,000 employees
https://www.straitstimes.com/business/why-us-hotels-are-missing-more-than-238000-employees
Australia government aims for sustainable, inclusive full employment
https://www.businesstimes.com.sg/international/australia-government-aims-sustainable-inclusive-full-employment
Canada retail sales drop 0.3% in sign of consumer slowdown
https://www.businesstimes.com.sg/international/canada-retail-sales-drop-03-sign-consumer-slowdown
China central bank adviser proposes structural reforms to revive economy
https://www.businesstimes.com.sg/international/china-central-bank-adviser-proposes-structural-reforms-revive-economy
Even China’s 1.4 billion population can’t fill all its vacant homes: former official
https://www.businesstimes.com.sg/property/even-chinas-14-billion-population-cant-fill-all-its-vacant-homes-former-official
https://www.channelnewsasia.com/business/even-chinas-14-billion-population-cant-fill-all-its-vacant-homes-former-official-says-3793761
Real estate crisis triggers new alarms over China’s shadow banks
https://www.businesstimes.com.sg/international/global/real-estate-crisis-triggers-new-alarms-over-chinas-shadow-banks
Investors in China scramble to sell overseas properties amid shaky economic conditions
https://www.channelnewsasia.com/asia/chinese-investors-china-scramble-sell-overseas-properties-shaky-economic-conditions-3794676
https://www.scmp.com/economy/china-economy/article/3235448/chinese-investors-scramble-sell-overseas-properties-amid-shaky-economic-conditions
Two of China’s strongest developers face ratings cuts by Moody’s
https://www.businesstimes.com.sg/property/two-chinas-strongest-developers-face-ratings-cuts-moodys
Eurozone economy likely contracted this quarter: PMI
https://www.businesstimes.com.sg/international/eurozone-economy-likely-contracted-quarter-pmi
German housing prices show sharpest yoy drop since 2000
https://www.businesstimes.com.sg/property/german-housing-prices-show-sharpest-yoy-drop-2000
With interest rates likely to have peaked, Hong Kong home prices will soon begin to look up, Knight Frank analyst says
https://www.scmp.com/business/article/3235623/interest-rates-likely-have-peaked-hong-kong-home-prices-will-soon-begin-look-knight-frank-analyst
Hong Kong relaxes mortgage rules as property market falters
https://www.businesstimes.com.sg/property/hong-kong-relaxes-mortgage-rules-property-market-falters
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3235592/hong-kongs-eased-mortgage-rules-unfinished-homes-will-have-little-impact-property-market-buyers-fret
Hong Kong orders removal of illegal structures from luxury homes
https://www.businesstimes.com.sg/property/hong-kong-orders-removal-illegal-structures-luxury-homes
https://www.scmp.com/business/article/3235616/crackdown-illegal-structures-set-chill-demand-recovery-hong-kongs-luxury-homes-market-analysts-say
Seized HK mansion listed for US$112 million traces fall of Evergrande tycoon
https://www.businesstimes.com.sg/property/seized-hk-mansion-listed-us112-million-traces-fall-evergrande-tycoon
Singapore is Japan’s top property investor in 2023: report
https://www.businesstimes.com.sg/international/global/singapore-japans-top-property-investor-2023-report
https://www.straitstimes.com/business/why-japan-real-estate-is-finding-favour-with-singapore-investors
https://www.theedgesingapore.com/news/property/singapore-japans-top-property-investor-2023-report-says
Malaysia inflation rate stable in August, in line with economists’ forecast
https://www.businesstimes.com.sg/international/asean/malaysia-inflation-rate-stable-august-line-economists-forecast
In yards, offices and basements, New York hopes to build 100,000 homes
https://www.businesstimes.com.sg/property/yards-offices-and-basements-new-york-hopes-build-100000-homes
Landlord SBB gets 8 billion Swedish kronor cash boost in Brookfield deal
https://www.businesstimes.com.sg/property/landlord-sbb-gets-8-billion-swedish-kronor-cash-boost-brookfield-deal
BOE pause a relief for consumers, but rates to remain high for some time
https://www.businesstimes.com.sg/international/global/boe-pause-relief-consumers-rates-remain-high-some-time
UK recession risk deepens but consumers stay unfazed
https://www.businesstimes.com.sg/international/uk-recession-risk-deepens-consumers-stay-unfazed
https://www.straitstimes.com/business/economy/uk-recession-risk-grows-as-firms-cut-staff-at-a-sharp-pace
UK retail sales rebound with shoppers returning after wet July
https://www.businesstimes.com.sg/international/uk-retail-sales-rebound-shoppers-returning-after-wet-july
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