Singapore Real Estate
Singapore prime office rents jump to highest level since 2008
Office rents in Singapore reached a 15-year high in the first quarter, defying the commercial property slump plaguing other major financial hubs. Gross effective monthly rents for premium office space in the city’s central business district jumped to S$11.42 per square foot in the first three months of the year, indicated data released on Wednesday (Mar 27) by Jones Lang LaSalle (JLL).
https://www.businesstimes.com.sg/singapore/singapore-prime-office-rents-jump-highest-level-2008
https://www.straitstimes.com/business/singapore-prime-office-rents-jump-to-highest-since-2008
HDB rental market to sustain growth momentum; private condo rents may face more headwinds in H2 2024
Good times may continue for landlords of Housing and Development Board (HDB) flats, but not those of private homes. According to figures from SRX and 99.co released earlier this month, the rental price index for the non-landed private housing market fell in February, due to a supply glut last year.
https://www.businesstimes.com.sg/property/hdb-rental-market-sustain-growth-momentum-private-condo-rents-may-face-more-headwinds-h2-2024
Business News
Keppel sets sights on private equity, infrastructure in shift to be asset management powerhouse
As Keppel : BN4 -0.4% shifts its focus towards becoming an asset manager, chief executive Loh Chin Hua said the group is exploring opportunities in private equity markets and infrastructure.
https://www.businesstimes.com.sg/companies-markets/keppel-sets-sights-private-equity-infrastructure-shift-be-asset-management-powerhouse
Second Chance Properties H1 profit falls 52.8% to S$4.3 million
Second Chance Properties posted a 52.8 per cent fall in its net profit to S$4.3 million for its first half ended Feb 29, 2024, from S$9.2 million a year earlier.
https://www.businesstimes.com.sg/companies-markets/second-chance-properties-h1-profit-falls-52.8-s-4.3-million
Global Economy & Real Estate
Gold prices hold ground as investors seek more Fed cues
https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-prices-hold-ground-investors-seek-more-fed-cues
Oil prices fall on stronger dollar, weak US petrol demand
https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-prices-fall-stronger-dollar-weak-us-petrol-demand
Los Angeles office tower dumped by Brookfield faces foreclosure sale
https://www.businesstimes.com.sg/property/los-angeles-office-tower-dumped-brookfield-faces-foreclosure-sale
Australia’s inflation holds steady for third straight month
https://www.businesstimes.com.sg/international/australia-s-inflation-holds-steady-third-straight-month
China industrial profits rise in sign of stabilising economy
https://www.businesstimes.com.sg/international/global/china-industrial-profits-rise-sign-stabilising-economy
China’s Bank of Communications posts slight profit gain, warns of property risks
https://www.businesstimes.com.sg/companies-markets/banking-finance/china-s-bank-communications-posts-slight-profit-gain-warns-property-risks
Hong Kong homebuyers flock to new projects, shunning used flats
https://www.businesstimes.com.sg/property/hong-kong-homebuyers-flock-new-projects-shunning-used-flats
Japan’s yen hits 34-year low, sparking intervention warnings
https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/japan-s-yen-hits-34-year-low-sparking-intervention-warnings
Bank of Japan board divided on economy’s strength upon stimulus exit, March summary shows
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-japan-board-divided-economy-s-strength-upon-stimulus-exit-march-summary-shows
Thailand can lift tourism revenue by legalising casinos: study
https://www.businesstimes.com.sg/international/asean/thailand-can-lift-tourism-revenue-legalising-casinos-study
Not even high mortgage rates make it worth renting London houses
https://www.businesstimes.com.sg/property/not-even-high-mortgage-rates-make-it-worth-renting-london-houses
UK home sellers trim discounts as expectations for rate cut grow
https://www.businesstimes.com.sg/property/uk-home-sellers-trim-discounts-expectations-rate-cut-grow
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