Singapore Real Estate / Built Environment
From million-dollar flats to 99-year leases: PM Lawrence Wong answers questions on Singapore housing
Is Singapore’s public housing model fair? Are flats still affordable? Such questions have arisen in recent years as the property market evolves, with resale prices jumping nearly 10 per cent in 2024 and million-dollar flats making headlines. Prime Minister Lawrence Wong sat down for an interview with CNA to address these issues, as part of a new seven-episode series titled Singapore’s Public Housing Revealed.
https://www.channelnewsasia.com/singapore/hdb-bto-lawrence-wong-resale-million-dollar-flats-5022341
Singapore’s private home price index eases to 0.6% in Q1: URA flash data
Private residential prices rose more slowly in the first quarter of 2025, increasing 0.6 per cent over the previous three months, flash estimates released by the Urban Redevelopment Authority’s (URA) showed on Monday (Apr 1).
Singapore’s prime office rents in Q1 weighed down by global retrenchments, trade tensions
Grade A Central Business District (CBD) rents flatlined for the fourth consecutive quarter as global volatility and trade tensions keep multinational corporations (MNCs) in a holding pattern. In the first quarter of 2025, rents inched up 0.5 per cent to S$11.60 per square foot per month (psf pm), JLL Research indicated.
Retail S-Reits’ high occupancy, firm yields keep analysts positive
Interest in retail-focused real estate investment trusts (Reits) remains strong despite signs of slowing retail sales and a flurry of tenant exits, with malls maintaining high occupancy and firm earnings. Retail Singapore-listed Reits (S-Reits) reported improved operating metrics in the latest earnings season, sporting higher distribution yields amid continuing tenant churn as rents rose.
HDB resale prices rise at a slower 1.5% pace in Q1: flash data
Housing and Development Board (HDB) resale prices continued to rise in the first quarter of 2025, albeit at a slower pace of 1.5 per cent compared with the 2.6 per cent recorded in Q4. Resale prices also rose slower than the average quarterly growth of 2.3 per cent in 2024, flash data from HDB indicated on Tuesday (Apr 1).
https://www.businesstimes.com.sg/property/hdb-resale-prices-rise-slower-1-5-pace-q1-flash-data
https://www.channelnewsasia.com/singapore/hdb-resale-prices-growth-slowest-five-quarters-5036336
https://www.zaobao.com.sg/realtime/singapore/story20250401-6098678
Singapore News / GE 2025
PM Wong committed to govt-citizen partnership, says ‘more open society will strengthen Singapore’
A more open and participatory society will strengthen Singapore, even though there will be divergent views and disagreements, said Prime Minister Lawrence Wong.
Election spotlight: Eyes on PM Wong’s turf in Marsiling-Yew Tee GRC
In his first election as prime minister, Mr Lawrence Wong’s four-member constituency of Marsiling-Yew Tee GRC is one to watch, simply because it is the PM’s turf. The Straits Times dives into the issues on the ground and looks at how the 10-year-old GRC is solidifying as a northern PAP stronghold.
Shanmugam on former NMPs joining political parties; Ex-AIC CEO spotted in East Coast GRC
A Nominated Member of Parliament can step down to join a political party and run for election under the Republic’s Constitution, said Minister for Law K Shanmugam on Monday (Mar 31).
https://www.zaobao.com.sg/news/singapore/story20250331-6096863
GE2025: Parties unveil slew of new faces over the weekend
Political parties were busy over the weekend announcing new faces in their teams, ahead of the next general election that is widely expected to take place before the middle of the year.
https://www.businesstimes.com.sg/singapore/ge2025-parties-unveil-slew-new-faces-over-weekend
https://www.zaobao.com.sg/news/singapore/story20250331-6097823
Business News
CapitaLand Ascendas Reit completes redevelopment of 1 Science Park Drive in Singapore Science Park’s Geneo cluster
CapitaLand Group has completed its S$883 million redevelopment of 1 Science Park Drive, a property situated in Geneo, the life sciences and innovation cluster in Singapore Science Park (SSP).
Frasers Property ‘closely monitoring’ aftermath of Myanmar quake
Singapore-listed Frasers Property Ltd, which owns and operates hospitality and commercial assets in Bangkok and recently opened a mega mixed development in the Thai capital, is “closely monitoring the aftermath of the earthquake in Myanmar and its impact on Thailand”, the group said on Saturday (Mar 29).
https://www.straitstimes.com/business/frasers-property-closely-monitoring-aftermath-of-myanmar-quake
Mapletree Industrial Trust banks on diversification, balance to deliver sustainable returns
Diversification and balance are at the left, right, and centre of Mapletree Industrial Trust (MIT) strategy. At its initial public offering in 2010, the real estate investment trust’s (Reit) entire S$2.1 billion assets under management (AUM) was in Singapore industrial properties such as flatted factories, business-park buildings, ramp-up buildings and light industrial properties.
Singapore real estate firm RealVantage jointly acquires Arthouse Hotel in Scotland for over $20m
Singapore real estate firm RealVantage has joined forces with a London firm to buy the Arthouse Hotel in the Scottish city of Glasgow for £12 million (S$20.8 million).
Other News
$156k lost to EZ-Link and SimplyGo phishing scams since March 1
Victims have lost at least $156,000 to phishing scams involving fake EZ-Link or SimplyGo websites since March 1. At least 97 such cases had been reported within the month, the police said on March 28.
3-in-1 self-test kit for Covid-19 and flu A/B now available in Singapore
A self-test kit that you can use at home to check if you have Covid-19 or influenza A or B is now available to consumers here. The three-in-one test kit looks and works like a Covid-19 antigen rapid test kit. It shows results for Covid-19 as well as the two common types of flu.
Global Economy / Real Estate News
Trump says reciprocal tariffs will target all countries
https://www.channelnewsasia.com/world/trump-reciprocal-tariffs-all-countries-apr-2-5034136
Trump presses advisers for tariff escalation ahead of Apr 2, Washington Post reports
US tariffs causing anxiety but no ‘dramatic’ economic impact: IMF chief
Trump threatens secondary tariffs on Russian oil if unable to make deal on Ukraine
US consumer spending rises in February; core inflation firmer
US employers cool hiring in March as tariff fallout threatens economy: Poll
Housing dream turned nightmare weighs on Australian voters ahead of national election
Asia braces itself for historic test of export model from Trump’s reciprocal tariffs
China factory activity expands before expected Trump tariffs
https://www.businesstimes.com.sg/international/china-factory-activity-expands-expected-trump-tariffs
Country Garden narrows loss to $6.1 billion in 2024 after steep write-off
China property giant Vanke reports annual loss of US$6.8 billion
22 Hong Kong, mainland firms express interest in pilot Northern Metropolis scheme
Another 150 family offices express interest in setting up in Hong Kong
Hong Kong February retail sales value drops 13% y/y
https://www.channelnewsasia.com/business/hong-kong-february-retail-sales-value-drops-13-yy-5034731
Hong Kong mortgage loans surge to 9-month high as new homebuyers seek more financing
Luxury frenzy: rich buyers keep scoring high-end Hong Kong homes at stunning discounts
Hong Kong lawmakers question if landlords will register subdivided flats
Japan’s parliament passes Budget a day before new fiscal year starts
Japan business mood worsens as Trump tariff uncertainty lingers
Tariff-hit firms may need business turnaround financing, Japan’s bank lobby chair says
Core inflation in Japan’s capital hits 2.4%, stays above BOJ’s target
Japan Feb factory output up, retail sales slow as Trump 2.0 raises growth risks
Japan Feb jobless rate falls to 2.4%, job availability shrinks
Golden visa revamp tempts wealthy to eye New Zealand as haven
South Korea March exports rise for second month, misses expectations
S Korea factory activity shrinks as output falls, but export orders jump, PMI shows
Thai factory output falls 3.9% y/y in February, weaker than forecast
Thai household debt-to-GDP ratio drops to 88.4 at end-Q4
https://www.channelnewsasia.com/business/thai-household-debt-gdp-ratio-drops-884-end-q4-5035476
Singapore companies in Myanmar, Thailand largely unaffected by earthquake
Massive quake is latest blow to Thai tourism hit by safety woes
Chinese contractor of collapsed Bangkok building under scrutiny
Thai watchdog had flagged concerns on building that collapsed in earthquake
Thailand passes quake stress test, but property and investor cracks show
WHO proposing to cut jobs and slash budget by a fifth, memo shows
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