Singapore Real Estate/Built Environment
URA overall private home price index rises at slower pace of 0.9% q-o-q in Q2 after 1.4% increase in Q1
Rental index of private homes falls 0.8 per cent in Q2, following 1.9 per cent drop in the previous quarter.
https://www.businesstimes.com.sg/property/flash-ura-overall-private-home-price-index-rises-slower-pace-0-9-q-o-q-q2-after-1-4-increase-q1
Condo resale volumes fall 29.9% in June; RCR prices inch up
Condominium resale volumes fell in June, while resale prices posted mixed performances. Flash data from SRX and 99.co released on Thursday (Jul 25) showed that resale volumes decreased 29.9 per cent month on month, and declined 5.2 per cent year on year. Around 809 units changed hands in June, down from the 1,153 units resold in May this year.
https://www.businesstimes.com.sg/property/condo-resale-volumes-fall-29-9-june-rcr-prices-inch-srx-99-co
https://www.straitstimes.com/singapore/housing/condo-resale-volumes-fall-299-in-june-rcr-prices-inch-up-srx-99co
Singapore office rents climb 3.1% in Q2, reversing decline in Q1 : URA
Office rents in the central region of Singapore rose 3.1 per cent in the second quarter of 2024, reversing 1.7 per cent decline in the previous quarter.
https://www.businesstimes.com.sg/property/singapore-office-rents-climb-3-1-q2-reversing-decline-q1-ura
Industrial rents continue climbing in Q2, but more slowly: JTC
Prices and rents of Singapore industrial space rose in the second quarter of 2024, but while rents continued to rise, rental growth slowed, JTC’s quarterly market report released on Thursday (Jul 25) indicated.
https://www.businesstimes.com.sg/property/industrial-rents-continue-climbing-q2-more-slowly-jtc
Singapore retail rents flatten in Q2, prices fall 1.2%: URA
Rents of retail space in Singapore’s central region remained unchanged in the second quarter of 2024, after a 0.4 per cent decline in Q1 2024. Islandwide, the Urban Redevelopment Authority’s (URA) retail vacancy rate fell marginally by 0.1 percentage point in Q1 to 6.6 per cent in Q2.
https://www.businesstimes.com.sg/property/singapore-retail-rents-flatten-q2-prices-fall-1-2-ura
HDB resale prices up 2.3% in Q2, sales rise 4%
Resale prices of public housing flats grew 2.3 per cent in the second quarter of this year, data from the Housing and Development Board (HDB) showed.
https://www.businesstimes.com.sg/property/hdb-resale-prices-2-3-q2-sales-rise-4
Singapore Economy
Singapore and EU conclude negotiations on digital trade agreement
Singapore and the European Union (EU) have concluded negotiations on a digital trade agreement that will facilitate data flows and digital trade, Singapore’s Ministry of Trade and Industry (MTI) said on Thursday (Jul 25).
https://www.businesstimes.com.sg/singapore/singapore-and-eu-conclude-negotiations-digital-trade-agreement
https://www.straitstimes.com/business/singapore-concludes-bilateral-digital-trade-deal-with-the-european-union
MAS leaves monetary policy settings unchanged; narrows GDP forecast range to 2-3%
The central bank lowered Singapore’s central bank left its monetary policy settings unchanged on Friday (Jul 26) for the fifth straight meeting, in line with market expectations, while narrowing its forecast for gross domestic product (GDP) growth to the higher end of the previous range.
https://www.businesstimes.com.sg/singapore/economy-policy/mas-leaves-monetary-policy-settings-unchanged-narrows-gdp-forecast-range-2-3
https://www.straitstimes.com/business/mas-keeps-singdollar-policy-unchanged-cuts-headline-inflation-forecast
https://www.channelnewsasia.com/singapore/mas-monetary-policy-statement-sneer-exchange-rate-4505121
Terrorism threat in Singapore elevated since Israel-Hamas conflict: ISD
The terrorism threat in Singapore has increased since the Israel-Hamas war, with the conflict seeing more acts of violence worldwide, which has affected the Republic.
https://www.businesstimes.com.sg/singapore/terrorism-threat-singapore-elevated-israel-hamas-conflict-isd
https://www.straitstimes.com/singapore/terrorism-threat-in-singapore-elevated-since-israel-hamas-conflict-isd
https://www.todayonline.com/news/terrorism-threat-elevated-renewed-israel-palestine-conflict-singapore-also-affected-isd-2465031
https://www.channelnewsasia.com/singapore/terrorism-threat-elevated-renewed-israel-palestine-conflict-singapore-also-affected-isd-4503686
Business News
CapitaLand Ascott Trust reports 8% y-o-y decline in 1HFY2024 DPS of 2.55 cents
CapitaLand Ascott Trust (CLAS) has reported a distribution of stapled security (DPS) of 2.55 cents for its 1HFY2024 ended June, down 8% from the 2.78 cents recorded in the previous corresponding period.
https://www.theedgesingapore.com/news/results/capitaland-ascott-trust-reports-8-y-o-y-decline-1hfy2024-dps-255-cents
CDL opens new extension at Singapore Sustainability Academy
City Developments Ltd (CDL) on Thursday (Jul 25) opened a new annex at the Singapore Sustainability Academy (SSA) to boost collaboration in climate action and sustainable development.
https://www.businesstimes.com.sg/property/cdl-opens-new-extension-singapore-sustainability-academy
Keppel DC REIT reports DPU of 4.549 cents for 1HFY2024, y-o-y decrease but h-o-h increase
Keppel DC REIT has reported a distribution per unit (DPU) of 4.549 cents for the 1HFY2024 ended June 30, a 9.9% y-o-y decrease from 5.051 cents the same period a year before, but a 5% h-o-h increase from 4.332 cents in 2HFY2023.
https://www.theedgesingapore.com/capital/results/keppel-dc-reit-reports-dpu-4549-cents-1hfy2024-y-o-y-decrease-h-o-h-increase
https://www.businesstimes.com.sg/companies-markets/reits-property/keppel-dc-reit-posts-9-9-drop-h1-dpu-s0-04549
Mapletree Industrial Trust Q1 DPU up 1.2% to S$0.0343
Mapletree Industrial Trust charted a 1.2 per cent increase in distribution per unit (DPU) to S$0.0343 in its first quarter ended Jun 30, 2024, from S$0.0339 in the year-ago period.
https://www.businesstimes.com.sg/companies-markets/mapletree-industrial-trust-q1-dpu-1-2-s0-0343
https://www.theedgesingapore.com/capital/results/mapletree-industrial-trusts-1qfy2025-dpu-increase-12to-343-cents
Allegations related to Venice corruption probe ‘unfounded and untrue’: Oxley CEO
Property developer Oxley issued a clarification on Wednesday (Jul 24) night following articles that reported the alleged involvement of its executive chairman and chief executive officer, Ching Chiat Kwong, in a corruption investigation against public officials in Venice, Italy.
https://www.businesstimes.com.sg/international/allegations-related-venice-corruption-probe-unfounded-and-untrue-oxley-ceo
https://www.straitstimes.com/business/companies-markets/allegations-related-to-venice-corruption-probe-unfounded-and-untrue-oxley-ceo
Suntec Reit DPU falls 12.5% to S$0.03042 due to lack of capital distribution
Suntec Real Estate Investment Trust (Suntec Reit) recorded a distribution per unit (DPU) of S$0.03042 in the six months ended Jun 30, 2024, marking a 12.5 per cent fall on year. DPU was S$0.03476 in the corresponding year-ago period.
https://www.businesstimes.com.sg/companies-markets/suntec-reit-dpu-falls-12-5-s0-03042-due-lack-capital-distribution
https://www.theedgesingapore.com/capital/results/suntec-reits-dpu-fell-12-1hfy2024-3042-cents
Global Economy & Real Estate
US economic growth regains steam in Q2; inflation slows
https://www.businesstimes.com.sg/international/us-economic-growth-regains-steam-q2-inflation-slows
https://www.straitstimes.com/business/economy/us-economic-growth-regains-steam-in-second-quarter-inflation-slows
US mortgage rates climb slightly, holding near a four-month low
https://www.businesstimes.com.sg/property/us-mortgage-rates-climb-slightly-holding-near-four-month-low
US weekly jobless claims fall more than expected
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-fall-more-expected2
CrowdStrike says over 97% of Windows sensors back online
https://www.channelnewsasia.com/business/crowdstrike-says-over-97-windows-sensors-back-online-4505931
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/crowdstrike-says-over-97-windows-sensors-back-online
Hong Kong and Peru conclude talks on free-trade pact, finance minister says
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3271919/hong-kong-and-peru-conclude-talks-free-trade-pact-finance-minister-says?module=top_story&pgtype=subsection
Give Hong Kong private developers more incentives to join subsidised housing scheme: analysts
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3271807/hong-kong-subsidised-housing-supply-remain-intact-despite-failed-land-bid-minister
Indonesia launches ‘Golden Visa’ to attract wealthy foreign investors
https://www.businesstimes.com.sg/international/asean/indonesia-launches-golden-visa-attract-wealthy-foreign-investors
https://www.channelnewsasia.com/asia/indonesia-golden-visa-attracts-foreign-corporate-investors-nusantara-4503896
Core inflation in Japan’s capital perks up, demand-driven price growth soft
https://www.channelnewsasia.com/business/core-inflation-japans-capital-perks-demand-driven-price-growth-soft-4506016
https://www.businesstimes.com.sg/international/core-inflation-japans-capital-perks-demand-driven-price-growth-soft
Japan proposes record minimum pay hike as inflation remains
https://www.businesstimes.com.sg/international/japan-proposes-record-minimum-pay-hike-inflation-remains
Malaysia’s inflation risks dim on muted fuel subsidy cut impact
https://www.businesstimes.com.sg/international/malaysias-inflation-risks-dim-muted-fuel-subsidy-cut-impact
Johor-Singapore SEZ: Businesses say Malaysia’s ‘stickier’ government boosts their confidence in project, but brain drain remains a risk
https://www.channelnewsasia.com/asia/asia-johor-sez-businesses-investment-singapore-malaysia-4503936
Paris Olympics hotel prices are down 41% since last fall
https://www.businesstimes.com.sg/property/paris-olympics-hotel-prices-are-down-41-last-fall
Thai cannabis policy U-turn a ‘victory’ for people, key party says
https://www.businesstimes.com.sg/international/thai-cannabis-policy-u-turn-victory-people-key-party-says
UK factories slash price expectations and raise output forecasts
https://www.businesstimes.com.sg/international/uk-factories-slash-price-expectations-and-raise-output-forecasts
Bank of England allots record £30 billion in weekly repo
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-england-allots-record-ps30-billion-weekly-repo
Lloyds says mortgage demand has begun to soften recently
https://www.businesstimes.com.sg/property/lloyds-says-mortgage-demand-has-begun-soften-recently
Stamford Land takes out shareholders’ loans for UK property
https://www.businesstimes.com.sg/companies-markets/stamford-land-takes-out-shareholders-loans-uk-property
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