The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 9 June 2023 (Fri)

Singapore Real Estate


Commentary: Beyond Singapore Turf Club, where can we find more land for housing?
Singapore: The government’s announcement on Monday (Jun 5) that the Singapore Turf Club in Kranji will be closed by March 2027 to make way for more housing took many by surprise. When that happens, more than 180 years of horse racing history in Singapore will come to an end.


Easing mortgage rates and lower household debt may not fuel home-buying: analysts
Singapore fixed home-loan rates have recently eased, ahead of a likely pause in the US Federal Reserve’s interest rate-hike cycle. But the rate outlook remains uncertain, and the slightly lighter debt burden may not bring buyers back to the housing market immediately, analysts said.


Strong interest in mortgagee sale of Eleven@Holland; 48 cheques collected
The 48 semi-detached houses at Eleven@Holland put up for mortgagee sale have attracted strong interest from buyers since the units – priced between S$3.7 million and S$4.4 million – opened for viewing on Jun 3.


Bigger BTO flats in Serangoon draw more than 13 first-timer applicants for each unit on offer
Singapore – Flat buyers made a beeline for bigger flats in Serangoon in the ongoing Build-To-Order (BTO) sales exercise, signalling pent-up demand in the mature estate that had not seen new flats launched for about nine years.


HDB resale price growth slows in May, while volumes rise: SRX,
Resale prices of Housing and Development Board (HDB) flats continued to rise in May at a moderate pace of 0.3 per cent compared with 1.1 per cent in April 2023, according to flash estimates from SRX and


Demand for defect inspection rising as more housing projects being completed after Covid-19 delays
Singapore – Defect inspection firms say they are experiencing a surge in demand for their services as many Housing Board projects have been completed over the past year after Covid-19 pandemic-related delays.



Companies’ Brief


CICT’s 3.938% senior green bond over two times subscribed
CapitaLand Integrated Commercial Trust’s (CICT) seven-year senior green bond was over two times subscribed, said bookrunner DBS on Thursday (Jun 8). DBS said it had received interest from 53 accounts which booked over S$800 million, including S$132 million from JLM International. The issue size was S$400 million.


Citi announces key appointments in Asean region
Citigroup on Thursday (Jun 8) announced the appointments of Raymond Lim and Shawn Khong Hsiu-Mun as head of corporate finance for Asean and the country head of Citi Commercial Bank Malaysia, respectively.



Global Economy & Real Estate


World warming at record 0.2 degrees Celsius per decade, scientists warn


US weekly jobless claims increase more than expected


UK property surveyors turn more positive despite rising rates


UK wage growth outstrips US, EU


Manhattan apartments are leasing in a flash ahead of summer frenzy


Australia’s trade surplus narrows as iron ore exports slide


With 70% chance of US recession, China, Asia ex-Japan to drive global growth: StanChart


China’s inflation stays near zero as economic recovery stalls


China factory gate deflation deepens in May, consumer inflation picks up


China’s reopening fails to lift confidence among German firms


Marketmind: China inflation could spoil the weekend party


Hong Kong’s US$900,000 a month retail lease is biggest since Covid ended


Malaysian inflation isn’t misbehaving, central banker says


Tourism pushes Thai consumer confidence to 39-month high in May



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