The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 31 Mar 2023 (Fri)

Singapore Real Estate


Charming Garden to try for en bloc sale again at unchanged S$175 million guide price
Charming Garden condominium will be put up for collective sale again via public tender on Friday (Mar 31), with an unchanged guide price of S$175 million, said sole marketing agent Colliers on Thursday.


Dick Lee family’s bungalows sold for S$61.1 million
Three adjoining freehold bungalows at 10/10A Chancery Hill Road, 12 Chancery Hill Road and 14/14A Dyson Road were sold for S$61.1 million, consultancy Cushman & Wakefield said on Friday (Mar 31).


Detached house in Bin Tong Park for sale at $22.88 mil
A detached house at 39 Bin Tong Park, off Coronation Road in District 10, is on the market for $22.88 million. The freehold property has a land area of 9,170 sq ft, which means the price translates to a $2,495 psf.


13 retail units at Sim Lim Square for sale at $13.1 mil
For the first time in over a decade, a portfolio of 13 retail units at Sim Lim Square has been offered on the market as a receiver’s sale. The units are marketed by Knight Frank and will be available for sale individually or collectively.


Continued interest rate hikes raise spectre of distressed sales in auction market
Singapore’s three most established property auction teams — hailing from Edmund Tie, Knight Frank Singapore, and Singapore Realtors Inc (SRI) — have wrapped up a busy first quarter of the year. The first three months of 2023 saw them marketing a full suite of residential, commercial, and industrial properties that included owner and mortgagee sales.



Singapore Economy


Analysts see ‘final tightening’ by MAS in April meeting after February’s inflation figures
Analysts are mostly seeing a “final tightening” by the Monetary Authority of Singapore (MAS) at its April monetary policy meeting after February’s inflation figures.


Singapore hotel takings, occupancy rates up in February
Singapore hotel revenues and occupancy rates picked up in February, reversing from the dip in the previous month, Singapore Tourism Board data showed on Thursday (Mar 30).



Companies’ Brief


Mapletree Logistics Trust buys 8 Asia-Pac assets for over S$900 million, plans private placement
The manager of Mapletree Logistics Trust (MLT) on Thursday (Mar 30) said it is in the process of buying eight logistics properties in Japan, Australia and South Korea for a total acquisition price of S$913.6 million.


Mapletree Logistics Trust’s private placement closes at S$1.649 per unit
Mapletree Logistics Trust (MLT) has closed its private placement at S$1.649 per unit, at the highest end of the price range it proposed when it launched the placement exercise on Thursday (Mar 30).


OCBC group chief Helen Wong’s salary reaches S$11.2 million in 2022, behind other local banks
OCBC group chief executive officer (CEO) Helen Wong’s salary reported on Friday (Mar 31) reached S$11.2 million in 2022, behind the annual salary paid by other local banks to their respective CEOs.



Global Economy & Real Estate


Housing’s scarce supply derails buyers at key time for US deals


US investment firm bets £300 million on red-hot UK rental market


US weekly jobless claims rise moderately; Q4 GDP trimmed


Germans shun foreign deposits on fear of new crisis


China’s largest developer posts first loss since 2007 listing


Tokyo inflation slows further ahead of BOJ leadership shift


South Korea industrial output slumps, retail sales rebound


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