The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 7 June 2023 (Wed)

Singapore Real Estate


Singapore households’ net worth up in Q1 with rising property prices; liabilities fall
Household net worth in Singapore grew at a faster pace in the first quarter of 2023, outpacing growth for most of 2022, as rising residential property prices fed into higher values for residential property assets.


Fangiono family of First Resources racks up four Nassim bungalow buys this year
The family that is said to be buying three Nassim Road bungalows from Cuscaden Peak Investments at a record land rate, had earlier this year picked up another bungalow on the same street for S$88 million.



Singapore Economy


Cybersecurity, connectivity needed to tap potential of digital economy: DPM Wong
Cybersecuity, connectivity and the responsible use of artificial intelligence (AI) are among key digital priorities that need to be addressed, said Deputy Prime Minister Lawrence Wong on Tuesday (Jun 6).


Infocomm sector grows 8.6% in 2022; new digital connectivity blueprint to support further growth
Singapore’s information and communications sector grew 8.6 per cent in 2022, outpacing the 3.6 per cent growth clocked by the overall economy, according to a new Digital Connectivity Blueprint unveiled on Monday (Jun 5).



Companies’ Brief


Keppel DC Reit says Cyxtera bankruptcy has ‘no material impact’ on DPU
The manager of Keppel DC Reit said Tuesday (Jun 6) that the filing for Chapter 11 bankruptcy protection in the US by Nasdaq-listed data centre operator Cyxtera will have “no material impact” on its distribution per unit (DPU).


Yanlord reports 437.5% y-o-y surge in total contracted pre-sales of RMB6.1 bil in May
Yanlord Land Group has reported total contracted pre-sales of RMB6.1 billion ($1.16 billion) for the month of May. The amount, which came from the group’s residential and commercial units as well as car parks, stood 437.5% higher than May 2022’s RMB1.14 billion.



Global Economy & Real Estate


These are the world’s 20 most expensive cities for expats in 2023


UK construction growth edges up, despite housing slump


Australia central bank raises rates to 11-year high, warns more hikes likely


Australia’s economy cools in Q1 as aggressive rate hikes take toll


China’s May economic data in spotlight as investors fret about recovery, lack of action


China asks big banks to cut deposit rates again to boost economy


Breaking | China trade: exports tumble in May, adding to economic woes


Evergrande Property Services to ensure working capital until mid-2024


Hong Kong rural body proposes housing scheme near site of controversial golf club development


Japan needs to balance growth, fiscal reform: policy document


Rental demand for Johor homes surges amid soaring Singapore rents; Q1 sales volume beats pre-pandemic levels



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