The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 30 Mar 2023 (Thu)

Singapore Real Estate


Steeper rise in condo and HDB rents in February on falling volumes
Condominium rental prices were up 3.5 per cent in February, a steeper increase from the 1.4 per cent rise in January, as indicated by flash estimates from SRX and on Wednesday (Mar 29).


Values tumble for high-end condos sold during 2013 property peak; analysts warn about buying high
Values of the 10 most expensive condominiums bought during the last residential property peak of 2013 have all fallen over the past decade, with one unit sold at nearly half of what it first went for.


Shipbuilder Yangzijiang acquires office building at 39 Robinson Road for $399 mil
Singapore-listed shipbuilding group Yangzijiang and its subsidiaries have entered a share purchase agreement to acquire a 100% stake in the office block at 39 Robinson Road in the CBD.


Singapore office rents see subdued growth in 1Q2023: JLL
Grade A office rents in the CBD grew in 1Q2023, though q-o-q growth slowed for the second consecutive quarter, says JLL.



Singapore Economy


S’pore-HK rivalry ‘hyped up’, makes for better headlines but each city has its strengths: Shanmugam
Pitting Singapore and Hong Kong against each other makes for better headlines, but it is simplistic talk that is “rather hyped up” as both cities have their own strengths.


Singapore, UK negotiate ‘modernised’ bilateral investment treaty
Singapore and the United Kingdom have launched negotiations for a new bilateral investment treaty that will supersede the existing one which entered into force in 1975.


Digitalisation will make international trade faster and cheaper: Iswaran
Global trade linkages and connectivity can be strengthened through digitalisation, which will make international trade faster, more secure and cheaper. And having common standards across jurisdictions will boost efficiency and make worldwide trade interoperable, said Minister-in-charge of Trade Relations S. Iswaran.


Reframing Singapore’s investment attractiveness in a post-BEPS world
The scrutiny on ensuring that large multinational enterprises (MNEs) pay their fair share of taxes has gained momentum globally. In Singapore, Deputy Prime Minister (DPM) Lawrence Wong announced in Budget 2023 that the country is looking to effect the recommendations from Pillar 2 of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) from 2025 onwards.


PMET share of Singapore’s job vacancies rose in 2022, but still shy of pre-pandemic level
In 2022, a rising share of Singapore’s record job vacancies were for professionals, managers, executives and technicians (PMETs), according to the Manpower Ministry’s (MOM) latest Job Vacancies report on Thursday (Mar 30).


Job vacancies declined as borders reopened, tech talents still in high demand across many sectors: MOM
Job vacancies across various industries in Singapore have declined over the past year, while technology talents continue to be highly sought after despite the recent high-profile layoffs by tech companies.



Companies’ Brief


Heeton offers exchange of outstanding 6.8% notes due November 2023
Real estate company Heeton is inviting holders of its 6.8 per cent fixed-rate notes due November 2023, to exchange their outstanding S$62.7 million of existing notes for new notes due November 2026. For each S$180,000 of the existing notes, Heeton is offering S$200,000 of new notes at a higher coupon rate of 7 per cent.


Keppel aims to hit S$200 billion in AUM by 2030
Keppel Corp is aiming to raise its current S$50 billion in assets under management (AUM) to S$200 billion by 2030 under its drive to be a leading global asset manager.



Global Economy & Real Estate


US pending home sales unexpectedly rise to highest since August


Retail sales growth in US expected to slow, trade group says


ECB says more hikes needed if bank stress stays contained


UK mortgage approvals rise in sign of stability returning


BOE says global investors’ appetite for risk is falling sharply


Irish house prices set for worst first quarter in a decade


Hong Kong home prices rise for second straight month in February


Vietnam Q1 growth slows due to shrinking exports amid weaker demand


Penang attracting investors’ interest; property and investment markets are abuzz


Thailand sticks to quarter-point rate hike to tame inflation



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