Singapore Real Estate
Developer sentiment mixed on new residential launch prices: poll
Fewer developers expect new launch prices to hold steady in the next six months, with some even believing that prices could drop, findings from a poll of developers showed. The poll, conducted by the National University of Singapore’s Institute of Real Estate and Urban Studies (Ireus), noted that developer sentiment had “softened visibly” in the first quarter of 2023.
https://www.businesstimes.com.sg/property/developer-sentiment-mixed-new-residential-launch-prices-poll
https://www.edgeprop.sg/property-news/singapore-property-buying-sentiment-slides-1q2023-amid-high-interest-rates-and-cooling-measures-nus
Fixed rates for home loans are down and likely to fall further, experts say
Singapore: Interest rates on home loans have been declining since the start of the year and observers expect the trend to continue. Fixed-rate home loans – which have interest rates that remain unchanged throughout a lock-in period – shot up past 4 per cent last year in Singapore, as the US Federal Reserve went on a rate-hike race to quell surging inflation.
https://www.channelnewsasia.com/singapore/fixed-rate-mortgage-home-loans-banks-interest-packages-3517311
Nearly 7,000 flats launched in May BTO and Sale of Balance Flats exercises
Some 6,995 new public housing flats are up for offer in the Housing and Development Board’s (HDB) latest Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise, launched on Tuesday (May 30).
https://www.businesstimes.com.sg/property/nearly-7000-flats-launched-may-bto-and-sale-balance-flats-exercises
https://www.straitstimes.com/singapore/hdb-launches-nearly-7000-new-flats-including-1500-sale-of-balance-flats-across-the-island
https://www.todayonline.com/singapore/new-bto-projects-launch-cool-hdb-resale-market-waiting-time-attractive-locations-2182006
https://www.channelnewsasia.com/singapore/nearly-90-bto-flats-may-exercise-bedok-serangoon-less-4-years-3524971
Companies’ Brief
Aims Apac Reit to launch equity funding exercise to raise around S$100 million
The manager of Aims Apac Real Estate Investment Trust (AA Reit) plans to launch an equity funding exercise to raise gross proceeds of approximately S$100 million, it announced on Wednesday (May 31).
https://www.businesstimes.com.sg/companies-markets/aims-apac-reit-launch-equity-funding-exercise-raise-around-s100-million
CapitaLand Investment’s Quah Ley Hoon joins SPH Media’s board
CapitaLand Investment (CLI) group chief corporate officer Quah Ley Hoon will join SPH Media’s board with effect from Jun 1, the media group said on Wednesday (May 31). Quah currently oversees corporate matters at the real estate investment manager…
https://www.businesstimes.com.sg/companies-markets/capitaland-investments-quah-ley-hoon-joins-sph-medias-board
Frasers announces programme to support inclusivity in malls
Frasers Property Singapore on Friday (May 26) announced its Inclusion Champions programme, which aims to create more inclusive spaces and experiences for members of the community with different needs.
https://www.businesstimes.com.sg/esg/frasers-announces-programme-support-inclusivity-malls
Global Economy & Real Estate
US debt ceiling bill to cut US$1.5 trillion from deficit over decade
https://www.businesstimes.com.sg/international/us-debt-ceiling-bill-cut-us15-trillion-deficit-over-decade
US consumer confidence dips in May: survey
https://www.businesstimes.com.sg/international/us-consumer-confidence-dips-may-survey-0
UK business confidence dips in May, inflation pressures persist: Lloyds
https://www.businesstimes.com.sg/international/uk-business-confidence-dips-may-inflation-pressures-persist-lloyds
Sweden risks more turbulence on property market woes, watchdog warns
https://www.businesstimes.com.sg/property/sweden-risks-more-turbulence-property-market-woes-watchdog-warns
Swiss economy starts year with unexpectedly strong growth
https://www.businesstimes.com.sg/international/swiss-economy-starts-year-unexpectedly-strong-growth
Swedish GDP stronger than expected in Q1, outlook cloudy
https://www.businesstimes.com.sg/international/swedish-gdp-stronger-expected-q1-outlook-cloudy
Australia’s central bank warns of inflation risks, pain ahead for households
https://www.businesstimes.com.sg/international/australias-central-bank-warns-inflation-risks-pain-ahead-households
China urged to ‘make good use’ of its advantages to support economic recovery, fix development problems
https://www.scmp.com/economy/china-economy/article/3222323/china-urged-make-good-use-its-advantages-support-economic-recovery-fix-development-problems
China’s factory activity falls faster than expected on weak demand
https://www.channelnewsasia.com/business/chinas-factory-activity-falls-faster-expected-weak-demand-3527071
https://www.businesstimes.com.sg/international/global/chinas-factory-activity-falls-faster-expected-recovery-stumbles
https://www.straitstimes.com/business/china-factory-activity-falls-faster-than-expected-as-recovery-stumbles
https://www.scmp.com/economy/economic-indicators/article/3222374/chinas-economic-recover-continues-stutter-manufacturing-activity-contracts-further-may
Hong Kong residents express fears over flat’s illegal modification while government demands swift action from owner
https://www.scmp.com/news/hong-kong/hong-kong-econom/article/3222302/hong-kong-residents-express-fears-over-flats-illegal-modification-while-government-demands-owner
Hong Kong building authorities, MTR Corp order flat owner who modified load-bearing wall to take action to ensure structural safety
https://www.scmp.com/news/hong-kong/society/article/3222168/risk-building-collapse-hongkongers-warned-against-removing-modifying-load-bearing-walls-flats-after
Explainer | Hong Kong renovation saga: all you need to know about modifying your flat and how to do it safely and legally
https://www.scmp.com/news/hong-kong/society/article/3222365/hong-kong-renovation-saga-all-you-need-know-about-modifying-your-flat-and-how-do-it-safely-and
BOJ may hike rates if sustained wage growth looks likely-government panellist
https://www.channelnewsasia.com/business/boj-may-hike-rates-if-sustained-wage-growth-looks-likely-government-panellist-3526966
Japan’s factory output drops on hit from global slowdown
https://www.businesstimes.com.sg/international/japans-factoryoutput-drops-hit-global-slowdown
https://www.straitstimes.com/business/japan-factory-output-drops-on-hit-from-global-slowdown
https://www.channelnewsasia.com/business/japan-april-factory-output-unexpectedly-falls-weake
-machinery-orders-352690
S Korea April factory output falls, retail sales drop most in 5 months
https://www.channelnewsasia.com/business/s-korea-april-factory-output-falls-retail-sales-drop-most-5-months-3526861
https://www.businesstimes.com.sg/international/south-korea-april-factory-output-falls-retail-sales-drop-most-5-months
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.