Singapore Real Estate
Singapore shophouse sales sink 35.6% in H2 2022
Shophouse sales in Singapore dwindled to some S$625.6 million in the second half of 2022, down 35.6 per cent from the first half in the same year as investors turned wary amid interest rate hikes. This is also a 38.7 per cent year-on-year decrease and a stark contrast from the “record-breaking performance” posted every six months between H1 2021 and H1 2022, said Knight Frank in a market update on Wednesday (Jan 25).
Six Serangoon Road shophouses sold for S$62.5m
A Portfolio of six adjoining freehold shophouses at 322 to 332 Serangoon Road has been sold for S$62.5 million via a tender that closed on Sep 9, 2022 after its launch on Aug 2. Exclusive marketing agent PropNex said on Thursday (Jan 26) the sale price translates to S$2,304 per square foot per plot ratio based on the property’s potential gross floor area (GFA).
Self-storage business growing as homes get smaller and pricier; rental rates set to rise
Demand for self-storage space in Singapore is on the up, as higher property prices lead people to downsize and small e-commerce businesses seek warehouse space. But while the business is growing and storage rates have also risen, operators are finding themselves squeezed by the rising cost of industrial space and higher interest financing, paving the way for further increases in storage rental rates.
Changes to Singapore’s FDI tax strategy may come only after Budget 2023
Global tax changes could prompt Singapore to find new ways to attract foreign direct investment (FDI), such as tax credit schemes, grants, or industry-specific measures – but this may only happen after Budget 2023, said industry watchers.
MAS could tighten monetary policy in April after ‘sticky’ inflation data in December: economists
While Singapore’s inflation appears to have peaked in the second half of 2022, some economists are still expecting the central bank to remain hawkish at the next monetary policy review, owing to the “stickiness” in Singapore’s core inflation.
Navigating rough waters, CapitaLand Investment can surprise shareholders by distributing units in Reits
Like most of its property peers, CapitaLand Investment (CLI) is facing down a tough environment amid global economic uncertainties. But perhaps the group can surprise its investors by doing a distribution in specie of units in real estate investment trusts (Reits) that it holds.
Koh Brothers reports 13% decline in net profit for FY2022
Koh Brothers Group announced 13% y-o-y decline in net profit to $6 million for the 12 months to Dec 31, 2022, the company’s FY2022. This is despite a 72% rise in revenue to 39% to $350.7 million and a 21% increase in gross profit to $26.0 million for the same period.
Marina Bay Sands delivers record mass gaming, retail revenue in Q4
Amid robust tourism and travel spending recovery across all of Las Vegas Sands’ (LVS) markets, its integrated resort Marina Bay Sands (MBS) reported record levels of performance in both mass gaming and retail revenue for the fourth quarter ended Dec 31, 2022.
Global Economy & Real Estate
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Property market in Vietnam faces headwinds, but market watchers see positives in the longer term
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