Singapore Real Estate / Built Environment
Singapore private home sales pick up as overall prices fall 0.7% in Q3
Buying sentiment in Singapore’s private housing market appears to have revived in the third quarter of this year, on the back of lower interest rates and ahead of a slew of new launches, said analysts.
https://www.businesstimes.com.sg/property/singapore-private-home-sales-pick-overall-prices-fall-0-7-q3
https://www.straitstimes.com/singapore/housing/private-home-prices-post-biggest-quarterly-fall-as-buyers-go-for-resales-cheaper-new-suburban-condos
https://www.zaobao.com.sg/realtime/singapore/story20241025-5243044
UOL, CapitaLand move to buy Thomson View Condo for S$810 million
UOL Singapore Land and CapitaLand Development (CLD) have signed an option to acquire the 99-year leasehold Thomson View Condominium for S$810 million in a collective sale, the companies said on Saturday (Oct 26).
https://www.businesstimes.com.sg/property/uol-capitaland-move-buy-thomson-view-condo-s810-million
https://www.zaobao.com.sg/realtime/singapore/story20241026-5250981
HDB resale prices up 2.7% in Q3; volumes also surpass expectations
The surge in housing resale prices and transaction volumes for the third quarter of 2024 exceeded earlier estimates, data released by the Housing and Development Board (HDB) on Friday (Oct 25) showed.
https://www.businesstimes.com.sg/property/hdb-resale-prices-2-7-q3-volumes-also-surpass-expectations
HDB to launch largest Sale of Balance Flats exercise in February 2025 with over 5,500 units on offer
Singapore: More than 5,500 Sale of Balance Flats (SBF) units will be offered in February 2025, the Housing and Development Board (HDB) said on Friday (Oct 25). This represents the largest SBF exercise, according to HDB, with about four in 10 to be completed units, while the remaining units will be completed progressively from 2025 to 2028.
https://www.channelnewsasia.com/singapore/hdb-sbf-flats-resale-prices-transactions-rental-4701671
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-up-2-7-in-q3-amid-tight-supply-over-5500-sale-of-balance-flats-in-feb-launch
https://www.zaobao.com.sg/realtime/singapore/story20241025-5243021
Singapore Economy
Singapore factory output eases to 9.8% in September, but Q3 GDP set for upward revision
Singapore’s third-quarter economic growth is likely to be revised by at least half a percentage point, following better-than-expected factory output in September, economists said.
https://www.businesstimes.com.sg/singapore/singapore-factory-output-eases-9-8-september-q3-gdp-set-upward-revision
https://www.straitstimes.com/business/economy/spore-factory-output-rises-at-slower-pace-of-9-8-in-september-after-jump-in-august
https://www.zaobao.com.sg/realtime/singapore/story20241025-5245119
‘Are you on Xiaohongshu?’ More brands take to Chinese social media platform to woo mainland Chinese shoppers in Singapore
More Singapore retail brands are hopping onto Chinese social media platform Xiaohongshu to woo both mainland Chinese tourists and Chinese nationals based in the Republic. Some businesses work with digital marketing agencies to tailor content strategies to the app, or engage influencers on the platform.
https://www.businesstimes.com.sg/singapore/smes/are-you-xiaohongshu-more-brands-take-chinese-social-media-platform-woo-mainland-chinese-shoppers
Business News
CapitaLand Ascendas Reit portfolio occupancy falls to 92.1% in Q3
Portfolio occupancy at CapitaLand Ascendas Reit (Clar) declined to 92.1 per cent in Q3 from 93.1 per cent in Q2. Occupancy in the US fell to 87.1 per cent, mainly due to lower occupancy in Raleigh, while Australia slipped to 91.7 per cent, largely due to a lease expiry in Sydney, the manager said in a business update on Friday (Oct 25).
https://www.businesstimes.com.sg/companies-markets/capitaland-ascendas-reit-portfolio-occupancy-falls-92-1-q3
https://www.zaobao.com.sg/realtime/singapore/story20241025-5248420
iFast Q3 net profit rises 97.3% to S$16.8 million on overall revenue growth
Digital bank and wealth management platform iFast posted a 97.3 per cent rise in net profit to S$16.8 million for its third quarter ended Sep 30, 2024, from S$8.5 million in the previous corresponding period.
https://www.businesstimes.com.sg/companies-markets/ifast-q3-net-profit-rises-97-3-s16-8-million-overall-revenue-growth
https://www.zaobao.com.sg/realtime/singapore/story20241025-5248963
Global Economy & Real Estate
US consumer sentiment rises to six-month high on rate relief
https://www.businesstimes.com.sg/international/us-consumer-sentiment-rises-six-month-high-rate-relief
US core capital goods orders beat expectations in September
https://www.businesstimes.com.sg/international/us-core-capital-goods-orders-beat-expectations-september
US 30-year fixed-rate mortgage rises to 6.54%
https://www.businesstimes.com.sg/property/us-30-year-fixed-rate-mortgage-rises-6-54
Canada to cut immigration to ease housing
https://www.businesstimes.com.sg/property/canada-cut-immigration-ease-housing
China industrial profits extend drop as deflation takes toll
https://www.businesstimes.com.sg/international/china-industrial-profits-extend-drop-deflation-takes-toll
China property: Sunac’s multimillion-yuan One Sino Park in Shanghai sells out in 3 hours
https://www.scmp.com/business/china-business/article/3284054/china-property-sunacs-one-sino-park-project-shanghai-sells-out-three-hours
German business sentiment rises, giving rare boost to ailing economy
https://www.businesstimes.com.sg/international/german-business-sentiment-rises-giving-rare-boost-ailing-economy
Hong Kong authorities to sell large land parcel next year to fast-track Northern Metropolis
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3284059/hong-kong-authorities-sell-large-land-parcel-next-year-fast-track-northern-metropolis
Hong Kong’s rising home sales still face economic headwinds
https://www.businesstimes.com.sg/property/hong-kongs-rising-home-sales-still-face-economic-headwinds
Hong Kong property: Sun Hung Kai, Wheelock and CK Asset submit bids for Sha Tin plot
https://www.scmp.com/business/article/3283899/hong-kong-property-sun-hung-kai-wheelock-and-ck-asset-submit-bids-sha-tin-plot
Hong Kong property: Chinachem’s Echo House in Cheung Sha Wan sell out as buyers return
https://www.scmp.com/business/article/3284062/hong-kong-property-chinachems-echo-house-cheung-sha-wan-hit-buyers
IMF sees weak yen beneficial for Japan’s economy
https://www.channelnewsasia.com/business/imf-sees-weak-yen-beneficial-japans-economy-4703136
Penang property boom fuelled by capital appreciation, strong industrial and tourism growth
https://www.businesstimes.com.sg/international/asean/penang-property-boom-fuelled-capital-appreciation-strong-industrial-and-tourism-growth
South Korea says it may consider additional oil tax cut
https://www.channelnewsasia.com/business/south-korea-says-it-may-consider-additional-oil-tax-cut-4705696
https://www.businesstimes.com.sg/international/south-korea-says-it-may-consider-additional-oil-tax-cut
Thailand planning to raise retirement age to 65: report
https://www.businesstimes.com.sg/international/thailand-planning-raise-retirement-age-65-report
UK employers show further signs of pre-budget nerves: Lloyds
https://www.businesstimes.com.sg/international/uk-employers-show-further-signs-pre-budget-nerves-lloyds
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