Singapore Real Estate
District 9 residential development site for sale at S$95 million guide price
A freehold residential site spanning 17,974 square feet (sq ft) in District 9 is up for sale by public tender at the guide price of S$95 million. On Thursday (Sep 28), exclusive marketing agent Savills Singapore said that this works out to S$2,839 per square foot per plot ratio (psf ppr).
https://www.businesstimes.com.sg/property/district-9-residential-development-site-sale-s95-million-guide-price
Chinese billionaire’s Bright Ruby-linked unit bags Far East Shopping Centre for about S$910 million|
The collective sale of Far East Shopping Centre has been awarded, subject to conditions, to a company linked to Bright Ruby Resources and Chinese businessman Du Shuanghua, The Business Times (BT) understands.
https://www.businesstimes.com.sg/property/chinese-billionaires-bright-ruby-linked-unit-bags-far-east-shopping-centre-about-s910
Singapore Economy
Government monitoring businesses to stop them from using increased costs as excuse to profiteer: DPM Wong
Singapore: The government will monitor businesses to make sure that there is no profiteering, where businesses might use cost increases as an excuse to raise prices more than necessary, said Deputy Prime Minister Lawrence Wong on Thursday (Sep 28).
https://www.channelnewsasia.com/singapore/government-monitoring-business-increased-costs-excuse-profiteering-lawrence-wong-3804891
S$1.1 billion support package with cash, vouchers, rebates to help Singaporeans with rising costs
A new S$1.1 billion support package will help Singaporeans – especially lower to middle-income families – cope with rising costs, Finance Minister Lawrence Wong announced on Thursday (Sep 28). There will be no need to dip into past reserves to fund this.
https://www.businesstimes.com.sg/singapore/s11-billion-support-package-cash-vouchers-rebates-help-singaporeans-rising-costs
https://www.straitstimes.com/singapore/11b-cost-of-living-package-up-to-200-cash-for-25m-s-poreans-200-cdc-vouchers-for-s-porean-households
https://www.channelnewsasia.com/singapore/cash-payouts-cdc-vouchers-singaporeans-cost-living-water-prices-3804691
https://www.todayonline.com/singapore/25m-sporeans-get-s800-each-dec-part-s11b-support-package-help-rising-living-costs-2269421?ntype=minute
https://www.scmp.com/news/asia/southeast-asia/article/3236119/singapore-unveils-us802-million-package-cushion-pain-cost-living-crisis
Analysis: Higher than projected revenues gave Govt financial muscle to provide additional help for living costs
Singapore — While rising costs of living prompted the provision of additional help to Singaporeans, higher than projected revenues have given the Government the financial muscle to do this early, without having to wait until next year’s Budget, analysts have said.
https://www.todayonline.com/singapore/analysis-higher-projected-revenues-gave-govt-financial-muscle-provide-additional-help-living-costs-2269946
Companies’ Brief
CDL ventures into Tokyo’s private rented sector with 35 billion yen investment
City Developments Limited (CDL) has purchased 35 billion yen (S$321.9 million) worth of interest in a portfolio of 25 residential assets in Tokyo from affiliates of US real estate investment manager BGO, or BentallGreenOak.
https://www.businesstimes.com.sg/companies-markets/cdl-ventures-tokyos-private-rented-sector-35-billion-yen-investment
https://www.straitstimes.com/business/companies-markets/cdl-ventures-into-tokyo-s-private-rented-sector-with-35-billion-yen-investment
https://www.theedgesingapore.com/news/property/cdl-invests-25-freehold-residential-assets-japan-3219-mil
Apac Realty expands ERA franchise to Queensland
Singapore – Real estate services provider Apac Realty is expanding into the Australian housing market through a franchise agreement. The mainboard-listed company, which operates the ERA Realty Network brand, said it has granted Brisbane real estate firm Queensland 888 a master franchise to operate ERA Queensland.
https://www.straitstimes.com/business/property/apac-realty-expands-era-franchise-to-queensland
https://www.theedgesingapore.com/news/company-news/apac-realty-expands-operations-australia
Global Economy & Real Estate
US pending home sales index slides to lowest level since 2020
https://www.businesstimes.com.sg/property/us-pending-home-sales-index-slides-lowest-level-2020
Mortgage rates in US rise to highest in more than two decades
https://www.businesstimes.com.sg/property/mortgage-rates-us-rise-highest-more-two-decades
US Q2 GDP growth unrevised at 2.1%; weekly jobless claims edge higher
https://www.businesstimes.com.sg/international/us-q2-gdp-growth-unrevised-21-weekly-jobless-claims-edge-higher
Australia job vacancies tumble from record levels in latest quarter
https://www.businesstimes.com.sg/international/australia-job-vacancies-tumble-record-levels-latest-quarter
Australian retail sales cool, boosting case to extend rate pause
https://www.businesstimes.com.sg/international/australian-retail-sales-cool-boosting-case-extend-rate-pause
China will introduce tax exemptions and cuts for affordable housing
https://www.channelnewsasia.com/business/china-will-introduce-tax-exemptions-and-cuts-affordable-housing-3805551
China’s property sector a bubble that needed bursting: Hong Kong property broker Centaline
https://www.businesstimes.com.sg/international/chinas-property-sector-bubble-needed-bursting-hong-kong-property-broker-centaline
China’s property woes test Beijing’s bottom line of no systemic risks, with Evergrande restructuring adding to problems
https://www.scmp.com/economy/china-economy/article/3236152/chinas-property-woes-deepened-evergrande-test-beijings-bottom-line-no-systemic-risks
Holidays at home for record number of Chinese as economic slowdown bites
https://www.businesstimes.com.sg/international/global/holidays-home-record-number-chinese-economic-slowdown-bites
German economy to shrink 0.6% in 2023 before wages drive rebound
https://www.businesstimes.com.sg/international/german-economy-shrink-06-2023-wages-drive-rebound
German inflation falls to lowest level since start of Ukraine war
https://www.businesstimes.com.sg/international/german-inflation-falls-lowest-level-start-ukraine-war
Hong Kong finance chief hints at easing property market curbs
https://www.businesstimes.com.sg/property/hong-kong-finance-chief-hints-easing-property-market-curbs
Exclusive: Hong Kong developer Wharf calls for ‘comprehensive review’ of property market curbs to stop the rot in home sales, prices
https://www.scmp.com/business/companies/article/3236069/hong-kong-developer-wharf-calls-comprehensive-review-property-market-curbs-stop-rot-home-sales
Hong Kong Housing Society deficit balloons to HK$1.8 billion as ‘challenging operating and investment environment’ takes toll
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3236176/hong-kong-housing-society-deficit-balloons-hk18-billion-challenging-operating-and-investment
Hong Kong developers set to delay launch of new flats as sector counts on easing of property cooling measures: agents
https://www.scmp.com/business/article/3236178/hong-kong-developers-set-delay-launch-new-flats-sector-counts-easing-property-cooling-measures
Scrapping Hong Kong property curbs would be welcomed, but not sufficient to fix what ails the flagging sector: analysts
https://www.scmp.com/business/article/3236170/scrapping-hong-kong-property-curbs-would-be-welcomed-not-sufficient-fix-what-ails-flagging-sector
New Zealand consumer confidence lifts slightly, remains low
https://www.businesstimes.com.sg/international/new-zealand-consumer-confidence-lifts-slightly-remains-low
Not so cool being landlords in Britain now
https://www.straitstimes.com/business/invest/not-so-cool-being-landlords-in-britain-now
UK to ease finance sector rules to boost investment post-Brexit
https://www.straitstimes.com/business/economy/uk-to-ease-finance-sector-rules-to-boost-investment-post-brexit
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