The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 4 Apr 2023 (Tue)

Singapore Real Estate


Right-sizing Singaporeans’ housing aspirations
When Parliament reconvenes on Apr 10 for its second session, the Government will lay out its priorities, policies, and programmes for the rest of its parliamentary term which will conclude in late August 2025.


Singapore’s steep rentals not be-all, end-all issue for expats: analysts
While recent steep hikes in rents for private housing might drive some expatriates and companies away from Singapore, they are but one consideration in the Republic’s attractiveness as a business hub, say analysts.


Record 21 4-room HDB resale flats sold for over S$1m in Q1 2023; analysts expect trend to continue
Singapore — A record 21 four-room Housing and Development Board (HDB) flats sold for over S$1 million on the resale market in the first quarter in an upward trend that property experts expect to continue for some time.



Singapore Economy


Singapore PMI back in contraction mode in March, echoes region’s softer factory activity
Singapore’s factory activity dipped a notch last month, mirroring a region-wide softening as uncertainty continues to cloud the near-term outlook. The Purchasing Managers’ Index (PMI) fell a marginal 0.1 point to 49.9 in a swift return to contraction territory in March, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Monday (Apr 3).


Singapore jumps to 9th spot in Kearney’s 2023 FDI Confidence Index
Singapore has risen from the 18th to 9th ranking in global consulting firm Kearney’s 2023 Foreign Direct Investment Confidence Index (FDICI) — the biggest jump in this year’s index. The city-state’s score increased from 1.74 to 1.87 this year.



Companies’ Brief


Capitaland Investment makes two key appointments in Japan and China to accelerate growth
CapitaLand Investment (CLI) 9CI 0.00% has made two key appointments for its operations in Japan and China to accelerate its growth in the two markets. Hideto Yamada has been appointed as managing director for CLI Japan effective April 17, while Kara Wang has been appointed chief investment officer for CLI China effective May 5.


Centurion looks to raise bed capacity amid dormitory supply crunch
Mainboard-listed dormitory operator Centurion Corporation has been given the go-ahead to increase the bed capacity at its quick-build dormitory (QBD) sites, as supply remains tight. Centurion Corporation chief executive Kong Chee Min said the company has received approval from JTC to add 888 more beds at its Westlite Jalan Tukang and Westlite Tuas Avenue 2 dormitories, two QBDs that began operations in 2021.



Global Economy & Real Estate


Dolce & Gabbana plans US, Spain and Maldives real estate projects


Swedish home prices resume slide, led by detached houses


New Zealand business confidence shows some positive developments: think tank


New Zealand set for smaller rate hike as inflation worries linger


Asia set for faster growth, easing inflation in 2023, ADB says


China Vanke defies property woes with 22.6 billion yuan in profit


Evergrande signs restructuring agreement with major creditors


Chinese banks brace for tough year as low interest rates, property crisis hit profitability


Hong Kong property deals likely to dip in April as used home sales lose ground, says Ricacorp


Sluggish Hong Kong office-rental market shows signs of bottoming out as enquiries pick up, analysts foresee rising rents


South Korea inflation softens to one-year low of 4.2% in March



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