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.
https://www.businesstimes.com.sg/opinion-features/right-sizing-singaporeans-housing-aspirations
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.
https://www.businesstimes.com.sg/property/singapores-steep-rentals-not-be-all-end-all-issue-expats-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.
https://www.todayonline.com/singapore/record-4-room-resale-flats-2143666
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).
https://www.businesstimes.com.sg/singapore/singapore-pmi-back-contraction-mode-march-echoes-regions-softer-factory-activity
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.
https://www.theedgesingapore.com/news/singapore-trade/singapore-jumps-9th-spot-kearneys-2023-fdi-confidence-index
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.
https://www.theedgesingapore.com/news/new-appointments/capitaland-investment-makes-two-key-appointments-japan-and-china-accelerate
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.
https://www.businesstimes.com.sg/companies-markets/centurion-looks-raise-bed-capacity-amid-dormitory-supply-crunch
Global Economy & Real Estate
Dolce & Gabbana plans US, Spain and Maldives real estate projects
https://www.businesstimes.com.sg/property/dolce-gabbana-plans-us-spain-and-maldives-real-estate-projects
Swedish home prices resume slide, led by detached houses
https://www.businesstimes.com.sg/property/swedish-home-prices-resume-slide-led-detached-houses
New Zealand business confidence shows some positive developments: think tank
https://www.businesstimes.com.sg/international/new-zealand-business-confidence-shows-some-positive-developments-think-tank
New Zealand set for smaller rate hike as inflation worries linger
https://www.channelnewsasia.com/business/new-zealand-set-smaller-rate-hike-inflation-worries-linger-3393236
Asia set for faster growth, easing inflation in 2023, ADB says
https://www.businesstimes.com.sg/international/global/asia-set-faster-growth-easing-inflation-2023-adb-says
China Vanke defies property woes with 22.6 billion yuan in profit
https://www.businesstimes.com.sg/property/china-vanke-defies-property-woes-226-billion-yuan-profit
https://www.straitstimes.com/business/china-vanke-defies-property-woes-with-44-billion-profit-for-2022
Evergrande signs restructuring agreement with major creditors
https://www.businesstimes.com.sg/property/evergrande-signs-restructuring-agreement-major-creditors
Chinese banks brace for tough year as low interest rates, property crisis hit profitability
https://www.scmp.com/business/banking-finance/article/3215854/chinese-banks-brace-tough-year-low-interest-rates-property-crisis-hit-profitability
Hong Kong property deals likely to dip in April as used home sales lose ground, says Ricacorp
https://www.scmp.com/business/article/3215882/hong-kong-property-deals-likely-dip-april-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
https://www.scmp.com/business/article/3215722/sluggish-hong-kong-office-rental-market-shows-signs-bottoming-out-enquiries-pick-analysts-foresee
South Korea inflation softens to one-year low of 4.2% in March
https://www.businesstimes.com.sg/international/south-korea-inflation-softens-one-year-low-42-march
https://www.channelnewsasia.com/business/south-korea-inflation-softens-one-year-low-outlook-murky-3395011
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