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.
https://www.channelnewsasia.com/commentary/singapore-turf-club-closure-housing-land-use-urban-redevelopment-golf-courses-3547871
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.
https://www.businesstimes.com.sg/companies-markets/reits-property/easing-mortgage-rates-and-lower-household-debt-may-not-fuel-home
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.
https://www.businesstimes.com.sg/property/strong-interest-mortgagee-sale-elevenholland-48-cheques-collected
https://www.straitstimes.com/business/strong-interest-in-mortgagee-sale-of-elevenholland-semi-detached-homes-with-48-cheques-collected
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.
https://www.straitstimes.com/singapore/housing/bigger-bto-flats-in-serangoon-draw-more-than-13-first-timer-applicants-for-each-unit-on-offer
HDB resale price growth slows in May, while volumes rise: SRX, 99.co
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 99.co.
https://www.businesstimes.com.sg/property/hdb-resale-price-growth-slows-may-while-volumes-rise-srx-99co
https://www.straitstimes.com/business/property/hdb-resale-market-recorded-higher-sales-in-may-as-price-growth-slows
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.
https://www.straitstimes.com/singapore/more-homeowners-seek-defect-inspection-services-firms-say
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.
https://www.businesstimes.com.sg/esg/cicts-3938-senior-green-bond-over-two-times-subscribed
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.
https://www.businesstimes.com.sg/companies-markets/citi-announces-key-appointments-asean-region
Global Economy & Real Estate
World warming at record 0.2 degrees Celsius per decade, scientists warn
https://www.channelnewsasia.com/sustainability/world-warming-record-02-degrees-celsius-decade-scientists-warn-3548121
US weekly jobless claims increase more than expected
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-increase-more-expected-0
UK property surveyors turn more positive despite rising rates
https://www.businesstimes.com.sg/property/uk-property-surveyors-turn-more-positive-despite-rising-rates
UK wage growth outstrips US, EU
https://www.businesstimes.com.sg/international/uk-wage-growth-outstrips-us-eu
Manhattan apartments are leasing in a flash ahead of summer frenzy
https://www.businesstimes.com.sg/property/manhattan-apartments-are-leasing-flash-ahead-summer-frenzy
Australia’s trade surplus narrows as iron ore exports slide
https://www.businesstimes.com.sg/international/australias-trade-surplus-narrows-iron-ore-exports-slide
With 70% chance of US recession, China, Asia ex-Japan to drive global growth: StanChart
https://www.theedgesingapore.com/news/global-markets/70-chance-us-recession-china-asia-ex-japan-drive-global-growth-stanchart
China’s inflation stays near zero as economic recovery stalls
https://www.straitstimes.com/business/china-s-inflation-stays-near-zero-as-economic-recovery-stalls
China factory gate deflation deepens in May, consumer inflation picks up
https://www.channelnewsasia.com/business/chinas-factory-gate-deflation-speeds-may-demand-wanes-3550136
https://www.businesstimes.com.sg/international/global/chinas-factory-gate-deflation-speeds-may-demand-wanes
https://www.scmp.com/economy/economic-indicators/article/3223467/chinas-consumer-inflation-surprisingly-grew-may-factory-gate-prices-fall-further-deflation
China’s reopening fails to lift confidence among German firms
https://www.businesstimes.com.sg/international/chinas-reopening-fals-lift-confidence-among-german-firms
https://www.channelnewsasia.com/business/end-zero-covid-fails-boost-german-investment-china-survey-3548131
Marketmind: China inflation could spoil the weekend party
https://www.channelnewsasia.com/business/marketmind-china-inflation-could-spoil-weekend-party-3549826
Hong Kong’s US$900,000 a month retail lease is biggest since Covid ended
https://www.businesstimes.com.sg/property/hong-kongs-us900000-month-retail-lease-biggest-covid-ended
Malaysian inflation isn’t misbehaving, central banker says
https://www.businesstimes.com.sg/international/malaysian-inflation-isnt-misbehaving-central-banker-says
Tourism pushes Thai consumer confidence to 39-month high in May
https://www.businesstimes.com.sg/international/asean/tourism-pushes-thai-consumer-confidence-39-month-high-may
https://www.channelnewsasia.com/business/tourism-pushes-thai-consumer-confidence-39-month-high-may-3547501
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