The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 3 May 2023 (Wed)



Industrial building on Eunos Ave 3 for sale at $60 mil

Singapore (EdgeProp) – Zhaolim Building, a six-storey high-specification industrial building at 115 Eunos Avenue 3, is up for sale at a guide price of $60 million. The property is located on an 83,071 sq ft plot of land and has a gross floor area (GFA) of about 207,678 sq ft.


Four freehold strata bungalows in Vanda Crescent for sale at $33 mil

Singapore (EdgeProp) – Four freehold strata bungalows in Vanda Crescent will be launched for sale on May 3 via private treaty, according to marketing agent PropNex Realty in a May 2 press release. The guide price of the properties is $33 million, or $2,690 psf on the land area.


BT Explains: Why the latest property cooling measures may not lower new home prices

There’s been a lot of buzz about property prices and cooling measures since the Government announced higher additional buyer’s stamp duty (ABSD) rates for residential property, effective April 27.





CapitaLand Ascendas Reit posts 11.1% positive rental reversion in Q1 2023

CapitaLand Ascendas Reit (real estate investment trust) saw its average rental rates go up by 11.1 per cent for leases renewed in the first quarter of 2023, higher than the 8 per cent reversion rate in the previous quarter.


Analysts mixed on CDL Hospitality Trusts despite ‘stellar performance’ in core Singapore market for 1QFY2023

Analysts are mixed on CDL Hospitality Trusts (CDLHT) despite the REIT seeing an 86% y-o-y increase in revenue per available room (RevPAR) for 1QFY2023 ended March.


Dyson to set up next-gen battery plant in Singapore, double advanced manufacturing footprint in 2023

Global technology firm Dyson is setting up a next-generation battery plant in Singapore as part of plans to double its advanced manufacturing footprint this year. This will be Dyson’s first proprietary new technology battery plant, the company said in a statement on Wednesday (May 3).


Keppel reorganises to become global asset manager, operator

Keppel Corporation will simplify its organisational structure into a new “horizontally integrated operating model” amid plans to transform into a global alternative real asset manager. The reorganisation will remove the group’s conglomerate structure in favour of one which comprises fund management, investment and operating platforms, Keppel said on Wednesday (May 3).


MLT manager turns cautious on forex, interest rate impact

The manager of Mapletree Logistics Trust (MLT) on Tuesday (May 2) warned of more uncertainty ahead, as higher interest rate costs and foreign exchange fluctuations continue to impact its performance.





About 6% more waste generated in Singapore in 2022; recycling rate increased slightly

Singapore: More waste was generated in Singapore in 2022, the second consecutive year of increase as economic activity continued to pick up. Around 7.39 million tonnes of solid waste were generated last year. This is an increase of about 6 per cent from the 6.94 million tonnes in 2021, according to the National Environment Agency’s (NEA) annual waste and recycling report released on Wednesday (May 3).


Living with Covid-19: Some parents stopping vaccine boosters for children, others will ‘wait and see’

Singapore — Ms Ai Leen Fung, a mother of three, is adopting a wait-and-see approach before giving her children the Covid-19 vaccine booster. The 38-year-old commercial analyst said that since her oldest child, who is six years old, is already vaccinated, she will let her child take the booster shot “when the time comes”.





Core inflation slows in eurozone, supporting smaller ECB rate hike


UK factory activity shrinks in April but cost pressures ease: PMI


UK house prices rise for first time in eight months


Britain’s housing slowdown leaves more homes on the market


Sweden’s housing downturn deepens, with more declines forecast


Australia hikes interest rates despite signs of slowing inflation


Australian landlords push back on property valuation doomsday


Asean needs $3.7 trillion to sustain growth and fight climate change: ADB


Why Chinese banks are not worried about depositors fleeing


Big-spending Chinese shoppers are splurging on luxury at home, not abroad any more


China property: government likely to keep market support coming as April home sales tank, say analysts


China tourists overwhelm attractions as travel explodes after Covid


Hong Kong exits recession as spending boom revives growth


Hong Kong analysts expect one last Fed rate increase in 2023, but are divided if HSBC and peers will raise prime rates


Hong Kong tax revenue drops HK$18.3 billion to HK$360.2 billion in 2022-23; decline in property and stock market activity blamed


Hong Kong homeowners cutting prices drastically even as secondary property market continues to climb


Malaysia likely to stand pat on key rate as inflation cools



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