Singapore Real Estate
Two units at The Ritz-Carlton Residences sold for S$16.5 million each, or $S5,397 psf
Two adjacent units in luxury development The Ritz-Carlton Residences Singapore, Cairnhill were recently sold for S$16.5 million each or S$5,397 per square feet (psf) – making it the first time since June 2023 that prices in the prime residential market have crossed the S$5,000 psf mark.
https://www.businesstimes.com.sg/property/two-units-ritz-carlton-residences-sold-s165-million-each-or-s5397-psf
https://www.edgeprop.sg/property-news/chinese-couple-buys-two-adjacent-units-ritz-carlton-residences-record-5397-psf
Johor Bahru-Singapore RTS Link will not be value-destructive for Singapore property
Lured by cheaper costs of goods and services, many Singapore residents head across the Causeway to visit Johor Bahru, the capital of Johor state, and other parts of Malaysia. Many Malaysians who work here also commute to and fro by land frequently. Unsurprisingly, there are often massive jams at both the Woodlands and Tuas Checkpoints.
https://www.businesstimes.com.sg/opinion-features/johor-bahru-singapore-rts-link-will-not-be-value-destructive-singapore-property
Companies’ Brief
Frasers Centrepoint Trust reports 99.9% retail portfolio occupancy for Q1
Frasers Centrepoint Trust (FCT) reported a committed occupancy for its retail portfolio of 99.9 per cent for the first quarter ended Dec 31, 2023, on the back of stronger shopper traffic and improved tenant sales.
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trust-reports-999-retail-portfolio-occupancy-q1
https://www.theedgesingapore.com/capital/results/frasers-centrepoint-trust-reports-999-retail-committed-occupancy-business-update
ESR-Logos Reit’s Senoko Loop redevelopment project attains TOP status
ESR-Logos Real Estate Investment Trust’s built-to-suit redevelopment project at 21B Senoko Loop has obtained temporary occupation permit (TOP) status, the manager said on Monday (Jan 22). The property will be leased to NTS Singapore on a triple net basis for 15 years with built-in rental escalations.|
https://www.businesstimes.com.sg/companies-markets/esr-logos-reits-senoko-loop-redevelopment-project-attains-top-status
https://www.theedgesingapore.com/news/reits/esr-logos-reits-build-suit-redevelopment-senoko-loop-attains-top
Global Economy & Real Estate
WHO chief warns pandemic accord hangs in the balance
https://www.businesstimes.com.sg/international/who-chief-warns-pandemic-accord-hangs-balance
US chip battle with China catches South Korea in the crossfire
https://www.businesstimes.com.sg/international/global/us-chip-battle-china-catches-south-korea-crossfire
Gold prices drop as US rate-cut hopes fade
https://www.businesstimes.com.sg/companies-markets/gold-prices-drop-us-rate-cut-hopes-fade
Australia’s December business conditions ease, price pressures cool
https://www.businesstimes.com.sg/international/australias-december-business-conditions-ease-price-pressures-cool
Australia halts ‘Golden Visa’ under broad migration overhaul
https://www.businesstimes.com.sg/international/global/australia-halts-golden-visa-under-broad-migration-overhaul
Canada places 2-year cap on foreign student visas to ease housing pressures as cost of living soars
https://www.scmp.com/news/world/united-states-canada/article/3249405/canada-places-2-year-cap-foreign-student-visas-ease-housing-pressures-cost-living-soars
Beijing sets 2024 growth target higher despite slowing economy
https://www.businesstimes.com.sg/international/beijing-sets-2024-growth-target-higher-despite-slowing-economy
https://www.channelnewsasia.com/business/beijing-sets-2024-growth-target-higher-despite-slowing-economy-4065071
China’s residential foreclosures increase 43% in 2023
https://www.businesstimes.com.sg/property/chinas-residential-foreclosures-increase-43-2023
https://www.straitstimes.com/business/property/china-s-residential-foreclosures-increase-43-year-on-year-in-2023
https://www.channelnewsasia.com/business/chinas-residential-foreclosures-increase-43-2023-4065081
China home sales set to disappoint in January, could fall by up to 15 per cent in 2024, CGS-CIMB Securities says
https://www.scmp.com/business/china-business/article/3249384/china-home-sales-set-disappoint-january-could-fall-15-cent-2024-cgs-cimb-securities-says
China’s travellers seen to head overseas more in 2024; S’pore expected to gain
https://www.straitstimes.com/business/china-s-travellers-to-head-overseas-more-in-2024-says-forecast-with-s-pore-expected-to-gain
BlackRock to sell Shanghai office towers at 30% discount: sources
https://www.businesstimes.com.sg/property/blackrock-sell-shanghai-office-towers-30-discount-sources
https://www.scmp.com/business/china-business/article/3249345/blackrock-sell-shanghai-office-towers-acquired-us167-million-2018-30-cent-discount-sources-say
The hottest buzzword in wellness seeps into real estate
https://www.businesstimes.com.sg/property/hottest-buzzword-wellness-seeps-real-estate
Mainland developers fade in Hong Kong after property crisis
https://www.businesstimes.com.sg/property/mainland-developers-fade-hong-kong-after-property-crisis
Hong Kong Peak Mansion sold at 30% discount for US$107 million
https://www.businesstimes.com.sg/property/hong-kong-peak-mansion-sold-30-discount-us107-million
https://www.scmp.com/business/banking-finance/article/3249378/luxury-hong-kong-mansion-peak-sells-35-discount-us107-million-company-linked-mindray-founder
Scrap Hong Kong’s ‘outdated’ property cooling measures and refrain from introducing new taxes, pro-business groups urge finance chief Paul Chan
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3249390/scrap-hong-kongs-outdated-property-cooling-measures-and-refrain-introducing-new-taxes-pro-business
Japan seen missing primary budget surplus target in FY2025
https://www.businesstimes.com.sg/international/japan-seen-missing-primary-budget-surplus-target-fy2025
https://www.channelnewsasia.com/business/japan-seen-missing-primary-budget-surplus-target-fy2025-4064551
Japan leaders meet to amplify call for wage hikes at small firms
https://www.businesstimes.com.sg/international/japan-leaders-meet-amplify-call-wage-hikes-small-firms
Malaysia’s inflation remains at 1.5% in December, in line with economists’ forecast
https://www.businesstimes.com.sg/international/asean/malaysias-inflation-remains-15-december-line-economists-forecast
Gucci owner buys Manhattan building for US$963 million
https://www.businesstimes.com.sg/property/gucci-owner-buys-manhattan-building-us963-million
Oil rises 2% on supply disruptions in Russia, U.S
https://www.channelnewsasia.com/business/oil-rises-2-supply-disruptions-russia-us-4064346
https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-rises-2-supply-disruptions-russia-us
South Korea to make financial markets more attractive, regulator says
https://www.channelnewsasia.com/business/south-korea-make-financial-markets-more-attractive-regulator-says-4064691
South Korea’s early trade data indicates patchy exports recovery
https://www.straitstimes.com/business/south-korea-s-early-trade-data-indicate-patchy-exports-recovery
Taiwan Dec export orders in worst fall in 6 months, outlook poor
https://www.channelnewsasia.com/business/taiwan-dec-export-orders-worst-fall-6-months-outlook-poor-4064956
https://www.scmp.com/economy/china-economy/article/3249369/taiwan-export-orders-plunge-16-cent-global-inflation-fears-outpace-rising-demand-ai-gear
UK companies facing critical financial distress surge 26% in Q4
https://www.businesstimes.com.sg/companies-markets/uk-companies-facing-critical-financial-distress-surge-26-q4
Tax raid on UK’s richest unlikely to trigger exodus: LSE survey
https://www.businesstimes.com.sg/international/global/tax-raid-uks-richest-unlikely-trigger-exodus-lse-survey
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