DAILY NEWS

Daily News – 28 Dec 2022 (Wed)

SINGAPORE REAL ESTATE

Sceneca Residence in Tanah Merah to open for preview on Jan 1
MCC Singapore’s residential project Sceneca Residence in the Tanah Merah area will launch for preview on Sunday (Jan 1), with indicative prices ranging from S$958,000 for a one-bedroom unit to about S$2.99 million for a four-bedroom.
https://www.businesstimes.com.sg/property/sceneca-residence-tanah-merah-open-preview-jan-1

Private property market to stay resilient in 2023, city fringe to outperform
Singapore’s private residential market will remain resilient in 2023, with the city fringe, or Rest of Central Region (RCR), leading the way in price performance and new launches, say analysts.
https://www.businesstimes.com.sg/property/private-property-market-stay-resilient-2023-city-fringe-outperform

S-Reit IPOs running scared in rising interest rate environment
The end of 2022 marks more than a dozen years of drought in new real estate investment trust (Reit) listings on the Singapore Exchange (SGX). The Singapore-listed real estate investment trust (S-Reit) market has seen an average of about two new initial public offerings (IPOs) since the first listing in 2002.
https://www.businesstimes.com.sg/opinion-features/s-reit-ipos-running-scared-rising-interest-rate-environment

HDB resale prices could slow to 6-8 per cent growth in 2023
Singapore – HDB resale prices are likely to rise at a slower pace in 2023 following two years of blistering growth, with demand and a tighter supply of resale stock offset by the latest property curbs and an expected boost in Build-to-Order (BTO) new flat supply.
https://www.straitstimes.com/business/hdb-resale-prices-should-slow-to-6-8-per-cent-growth-in-2023

Property portals remove non-compliant listings, say onus is on agents to ensure occupancy rules were met
Singapore: Property websites told CNA that they have procedures to ensure that their online listings comply with laws and regulations, but the responsibility ultimately lies with agents who post the property online.
https://www.channelnewsasia.com/singapore/hdb-bto-mop-property-websites-propertyguru-99co-ohmyhome-3169531

COMPANIES’ BRIEF

Chip Eng Seng IFA says terms of Tangs offer fair ‘on balance’
Property player Chip Eng Seng’s independent financial adviser (IFA) Xandar Capital on Tuesday (Dec 27) said terms of couple Gordon and Celine Tang’s offer to privatise the company at S$0.75 per share are fair “on balance” when asked to elaborate on how it concluded that the deal is “fair and reasonable”.
https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-ifa-says-terms-tangs-offer-fair-balance

Mapletree Logistics Trust to sell ‘outdated’ Changi property for S$22 million
Mapletree Logistics Trust (MLT) has agreed to sell its 23-year-old cargo lift warehouse on 3 Changi South Lane to Nova Furnishing Holdings for S$22 million as part of its manager’s rejuvenation strategy.
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-sell-outdated-changi-property-s22-million
https://www.straitstimes.com/business/mapletree-logistics-trust-to-sell-outdated-changi-property-for-s22-million

VIEWS, REVIEWS, FORUM AND OTHERS

31-year-old Singaporean dies after machine falls on him, 45th workplace fatality this year
Singapore – A 31-year-old Singaporean died after he was struck and pinned down by a machine on Tuesday morning. He is the 45th workplace fatality so far in 2022. The machine was being moved by a forklift when it toppled and hit the worker.
https://www.straitstimes.com/singapore/31-year-old-singaporean-man-dies-after-being-hit-by-a-machine-45th-workplace-fatality-this-year
https://www.todayonline.com/singapore/singaporean-worker-31-dies-pinned-machine-workplace-accident-death-45-2080651

Renovating your home? Be prepared for price hikes, project delays
Singapore: Expected price increases and likely project delays will not stop homeowners from engaging the services of renovation companies. The demand is expected to remain strong next year, said observers, even as some renovation firms warned of price increases of up to 20 per cent.
https://www.channelnewsasia.com/singapore/price-hikes-project-delays-renovation-3169891