Singapore Real Estate
Singapore’s private home prices up 1.4% in Q1, rents drop by 1.9%: URA
Prices of private residential property rose 1.4 per cent in the first quarter of 2024, figures released by the Urban Redevelopment Authority (URA) showed on Friday (Apr 26). This was a tad lower than the 1.5 per cent flash estimate by the agency earlier this month, and follows an increase of 2.8 per cent in the previous quarter.
https://www.businesstimes.com.sg/property/singapore-s-private-home-prices-1-4-q1-rents-drop-1-9-ura
FLASH: Singapore office rents in central region fall 1.7 per cent in Q1 over Q4: URA
The Urban Redevelopment Authority’s (URA) office rental index for Singapore’s central region fell 1.7 per cent in the first quarter of 2024 over the preceding quarter. This contrasts with the 0.3 per cent quarter-on-quarter increase in Q4 2023.
https://www.businesstimes.com.sg/property/flash-singapore-office-rents-central-region-fall-1-7-cent-q1-over-q4-ura
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Rents of Singapore industrial space continued to rise in the first quarter of 2024, even as occupancy rates dipped and prices fell for the first time in three years, JTC’s quarterly market report released on Thursday (Apr 25) indicated.
https://www.businesstimes.com.sg/property/singapore-q1-industrial-rents-rise-further-occupancy-dips-and-prices-fall-jtc
Condo resale volumes rebound in March; prices inch up 0.4%
Condominium resale volumes rebounded 17.4 per cent in March, reaching its highest level in seven months, as buyers returned to the market after a seasonal lull in February. Flash data from SRX and 99.co released on Thursday (Apr 25) showed that 883 units were resold in March, compared with the 752 units that changed hands in February.
https://www.businesstimes.com.sg/property/condo-resale-volumes-rebound-march-prices-inch-0-4-srx-99-co
https://www.straitstimes.com/singapore/housing/condo-resale-prices-inch-up-in-march-as-volume-rebounds-174
New 255-room hotel under Hotel Indigo brand to open at Changi Airport T2 by 2028
Singapore – A new 255-room hotel under the boutique Hotel Indigo brand will open at Changi Airport Terminal 2 (T2) by 2028 – a year later than originally projected. Airport operator Changi Airport Group (CAG) said on April 26 that it has awarded a contract to develop and lease the new hotel to real estate group OUE Limited, which also owns the Crowne Plaza Changi Airport hotel at T3.
https://www.straitstimes.com/singapore/new-255-room-hotel-under-hotel-indigo-brand-to-open-at-changi-airport-t2-by-2028
https://www.businesstimes.com.sg/companies-markets/oue-wins-tender-lease-develop-new-zero-energy-hotel-changi-airport-s-t2
Business News
CapitaLand Investment posts total revenue of S$650 million for Q1
CapitaLand Investment (CLI) reported a total revenue of S$650 million for the first quarter ended March 2024, down 0.2 per cent from S$651 million in the same period last year. On Friday (Apr 26), the real estate investment manager said this demonstrated “stable” performance on a year-on-year basis.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-posts-total-revenue-s-650-million-q1
https://www.straitstimes.com/business/capitaland-investment-q1-revenue-dips-02-to-650-million
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Far East Orchard on Thursday (Apr 25) announced its student housing subsidiary has acquired a 49 per cent stake of Homes For Students Limited, a purpose-built student accommodation (PBSA) operator based in the United Kingdom, for £17.6 million (S$30 million).
https://www.businesstimes.com.sg/companies-markets/undefined47
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Mapletree Industrial Trust (MIT) on Thursday (Apr 25) posted a distribution per unit (DPU) of S$0.0336 for the fourth quarter ended Mar 31, up 0.9 per cent from S$0.0333 in the corresponding year-ago period.
https://www.businesstimes.com.sg/companies-markets/reits-property/mapletree-industrial-trust-q4-dpu-rises-0-9-s-0-0336
https://www.straitstimes.com/business/companies-markets/mapletree-industrial-trust-q4-dpu-rises-09-to-00336
Temasek-BlackRock joint venture closes inaugural decarbonisation-focused fund at $1.9 billion
Singapore – Investment platform Decarbonization Partners – jointly set up by Singapore’s investment company Temasek and global asset manager BlackRock – has raised US$1.4 billion (S$1.9 billion) at the close of its inaugural fund focused on investing in decarbonisation technologies, surpassing its initial target of US$1 billion.
https://www.straitstimes.com/business/temasek-blackrock-joint-venture-closes-inaugural-decarbonisation-focused-fund-at-us14-billion
Global Economy & Real Estate
Global economy set to stay on a roll for the rest of the year: Reuters poll
https://www.channelnewsasia.com/business/global-economy-set-stay-roll-rest-year-4293841
Homes in many major cities are getting pricier
https://www.straitstimes.com/business/invest/homes-in-many-major-cities-are-getting-pricier
Yellen says US can bring inflation down without hurting jobs
https://www.businesstimes.com.sg/international/yellen-says-us-can-bring-inflation-down-without-hurting-jobs
US economic growth slows more than expected in first quarter
https://www.straitstimes.com/business/economy/us-economic-growth-slows-more-than-expected-in-first-quarter
US pending home sales jump in March to hit highest in the year
https://www.businesstimes.com.sg/property/us-pending-home-sales-jump-march-hit-highest-year
Blackstone strikes US$1.6 billion student housing deal with KKR
https://www.businesstimes.com.sg/property/blackstone-strikes-us-1-6-billion-student-housing-deal-kkr
China preps for clampdown on financial crimes with new version of anti-money-laundering law
https://www.scmp.com/economy/china-economy/article/3260327/china-preps-clampdown-financial-crimes-new-version-anti-money-laundering-law?module=top_story&pgtype=subsection
Chinese firms are investing abroad at fastest pace in eight years
https://www.businesstimes.com.sg/international/global/chinese-firms-are-investing-abroad-fastest-pace-eight-years
https://www.straitstimes.com/business/chinese-firms-investing-abroad-at-fastest-pace-in-8-years
European real estate deals slump to lowest level in 13 years
https://www.businesstimes.com.sg/property/european-real-estate-deals-slump-lowest-level-13-years
Some young Hong Kongers turn to youth hostels as housing crisis persists
https://www.channelnewsasia.com/asia/hong-kong-youth-hostels-housing-woes-persist-ownership-4291326
New World Development puts 18 units up for sale at its recently completed Cheung Sha Wan office tower
https://www.scmp.com/business/article/3260374/new-world-development-puts-18-units-sale-its-recently-completed-cheung-sha-wan-office-tower
Inflation in Japan’s capital falls below BOJ target, slows for 2nd month
https://www.channelnewsasia.com/business/inflation-japans-capital-slows-more-expected-slides-below-boj-goal-4293811
Bank of Japan may signal near-term rate hike with new price forecasts
https://www.channelnewsasia.com/business/bank-japan-may-signal-near-term-rate-hike-new-price-forecasts-4293696
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources
https://www.businesstimes.com.sg/international/asean/malaysia-mulls-over-plans-casino-forest-city-part-johor-s-pore-special-economic-zone-sources
Middle East tensions threaten global progress on inflation: World Bank
https://www.businesstimes.com.sg/international/global/middle-east-tensions-threaten-global-progress-inflation-world-bank
Philippines central bank not seeing rate hike despite peso weakness: finmin
https://www.businesstimes.com.sg/international/asean/philippines-central-bank-not-seeing-rate-hike-despite-peso-weakness-finmin
Heatstroke kills 30 in Thailand this year as South-east Asia bakes
https://www.businesstimes.com.sg/international/asean/heatstroke-kills-30-thailand-year-south-east-asia-bakes
https://www.channelnewsasia.com/asia/heatstroke-kills-30-thailand-year-kingdom-bakes-4291216
UK consumer confidence improves as inflation and taxes fall
https://www.businesstimes.com.sg/international/uk-consumer-confidence-improves-inflation-and-taxes-fall
Homebuyers shun new real estate in Vancouver, hurting builders
https://www.businesstimes.com.sg/property/homebuyers-shun-new-real-estate-vancouver-hurting-builders
Venice residents protest as city begins tourist entry charge
https://www.businesstimes.com.sg/international/global/venice-residents-protest-city-begins-tourist-entry-charge
https://www.channelnewsasia.com/world/italy-venice-tourist-entry-charge-fee-day-trip-crowds-4290536
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