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Real Estate Daily News

12th April 2019 (Fri)
2019

Singapore Real Estate

Real estate among top gainers YTD but further rally unlikely
The real estate sector has been among the best-performing in the Singapore market this year, but analysts see limited upside from hereon, following the sector's rally this year.  Going by Singapore Exchange (SGX) data as at Wednesday, the share prices of the top five real estate developers have, since the start of the year, risen 24 per cent.
https://www.businesstimes.com.sg/companies-markets/real-estate-among-top-gainers-ytd-but-further-rally-unlikely

Singapore is second priciest city for private property: CBRE
Singapore remains the world's second most expensive housing market after Hong Kong, according to an annual CBRE report which compares private residential property markets across 35 cities. But average price growth was significantly slower, at just 1.1 per cent.  Hong Kong kept its top position with an average residential property costing US$1.235 million or US$2,091 per square foot (psf). Singapore came a distant second at US$874,372 or US$1,063 psf, with Shanghai third at US$872,555 or US$714 psf.
https://www.businesstimes.com.sg/real-estate/singapore-is-second-priciest-city-for-private-property-cbre
https://www.straitstimes.com/business/property/hk-housing-still-highest-priced-spore-2nd-cbre
https://www.todayonline.com/singapore/singapore-worlds-second-most-expensive-housing-market-cbre-report

Eunos industrial building put up for sale
A six-storey detached industrial building at 115 Eunos Avenue 3 is up for sale by expression of interest.  It joins other properties in the city fringes that have put on the market this week, including a freehold four-storey commercial building at 118 Joo Chiat Road and a freehold redevelopment site at 51 Lorong 21 Geylang. They have indicative prices of S$20 million and S$23 million respectively.
https://www.businesstimes.com.sg/real-estate/eunos-industrial-building-put-up-for-sale
https://www.straitstimes.com/business/property/eunos-industrial-building-put-up-for-sale

 

Singapore Economy

Weak manufacturing drags Singapore economy to slower 1.3% growth in Q1: flash estimates
Singapore seems to have started the year off on the wrong foot, with economic flash data coming in a shade beneath market expectations in the first quarter.  Gross domestic product (GDP) grew by 1.3 per cent year on year in the first three months of 2019, according to estimates from the Ministry of Trade and Industry (MTI) on Friday morning.
https://www.businesstimes.com.sg/government-economy/weak-manufacturing-drags-singapore-economy-to-slower-13-growth-in-q1-flash
https://www.straitstimes.com/business/economy/singapore-economy-grows-13-in-q1-slightly-below-expectations-flash-data
https://www.channelnewsasia.com/news/singapore/singapore-economy-gdp-estimates-q1-2019-11436714
https://www.todayonline.com/singapore/singapores-gdp-growth-slows-q1-mti

MAS keeps monetary policy unchanged, downgrades core inflation forecast
The Monetary Authority of Singapore (MAS) is holding steady on monetary policy but downgrading its forecast range for core inflation to between 1 and 2 per cent, it announced at its latest half-yearly monetary policy review.  After two consecutive slight increases in the pace of Singdollar appreciation in 2018, the MAS said on Friday morning that it is maintaining the Singapore dollar's current rate of appreciation.
https://www.businesstimes.com.sg/government-economy/mas-keeps-monetary-policy-unchanged-downgrades-core-inflation-forecast
https://www.straitstimes.com/business/economy/no-change-to-singdollar-policy-mas
https://www.channelnewsasia.com/news/singapore/mas-hits-pause-button-on-tightening-leaves-monetary-policy-11433628
https://www.bloomberg.com/news/articles/2019-04-12/singapore-central-bank-sticks-to-policy-settings-as-growth-slows?srnd=premium-asia

Changi Airport's Jewel sparkles for first visitors
Changi Airport's Jewel welcomed its first visitors on Thursday for a preview of the new development, which is part of the airport's effort to enhance passenger experience in an increasingly competitive environment.  Starting on Thursday and up to Tuesday next week, up to 500,000 members of the public will get a sneak peek inside the dome-shaped structure ahead of its official launch on Wednesday next week.
https://www.businesstimes.com.sg/government-economy/changi-airports-jewel-sparkles-for-first-visitors
https://www.straitstimes.com/singapore/transport/jewel-opens-doors-to-give-changi-airport-added-sparkle
https://www.straitstimes.com/singapore/transport/jewel-a-timely-investment-in-future-of-singapore-air-hub
https://www.channelnewsasia.com/news/singapore/jewel-changi-airport-opens-its-doors-to-first-visitors-11433164
https://www.todayonline.com/singapore/60000-people-get-sneak-peek-jewel-changi-airport
https://www.bloomberg.com/news/photo-essays/2019-04-11/how-to-have-the-best-layover-at-the-world-s-best-airport?srnd=premium-asia

 

Companies' Brief

CapitaLand Mall Trust names Teo Swee Lian as new chairman
The manager of CapitaLand Mall Trust on Thursday announced board changes, including new chairman Teo Swee Lian, who has spent more than 27 years with the Monetary Authority of Singapore.  Ms Teo is currently a non-executive independent director of Singtel and AIA Group, listed on the Singapore and Hong Kong stock exchanges, respectively.
https://www.businesstimes.com.sg/companies-markets/capitaland-mall-trust-names-teo-swee-lian-as-new-chairman

 

Views, Reviews, Forum & Others

Merging of same-stable Reits is the way to go
At last count, the Singapore bourse has a diversified Reit Listings across hotels, health, office, residential and retail sectors of more than 30 counters with the smaller companies capitalised at less than S$1 billion each - and this does not even include the multitude of business trusts present.  There is a real need for market consolidation. Small, locally-oriented Reits attract little or no institutional investor interest, being little researched by big foreign trading houses.
https://www.businesstimes.com.sg/opinion/merging-of-same-stable-reits-is-the-way-to-go

 

Global Economy & Global Real Estate

Sweet-And-Sour Global Economy Gets Relief Signs, Bleak Forecasts
https://www.bloomberg.com/news/articles/2019-04-11/sweet-and-sour-global-economy-gets-relief-signs-bleak-forecasts?srnd=premium-asia

US labour market tightening; inflation pressures moderate
https://www.businesstimes.com.sg/government-economy/us-labour-market-tightening-inflation-pressures-moderate

Fed signals patience in 2019 amid mounting risks to growth
https://www.businesstimes.com.sg/government-economy/fed-signals-patience-in-2019-amid-mounting-risks-to-growth

House prices in London forecast to keep falling
https://www.businesstimes.com.sg/real-estate/house-prices-in-london-forecast-to-keep-falling

China's Economy Is Likely to Grow ‘Well Above’ Target in 2019: Jefferies
https://www.bloomberg.com/news/articles/2019-04-11/china-s-economy-can-grow-well-above-target-in-2019-jefferies?srnd=premium-asia

China producer inflation picks up for first time in 9 months
https://www.businesstimes.com.sg/government-economy/china-producer-inflation-picks-up-for-first-time-in-9-months
https://www.bloomberg.com/news/articles/2019-04-11/china-consumer-prices-surge-in-march-as-factory-inflation-gains?srnd=premium-asia

'China's Manhattan' borrows heavily, but the people have yet to arrive
https://www.businesstimes.com.sg/real-estate/chinas-manhattan-borrows-heavily-but-the-people-have-yet-to-arrive

China Vanke mulls US$1b property management IPO
https://www.businesstimes.com.sg/real-estate/china-vanke%C2%A0mulls-us1b-property-management-ipo

In Hong Kong, $1.2 Million Will Only Buy You an Average House
https://www.bloomberg.com/news/articles/2019-04-11/in-hong-kong-1-2-million-will-only-buy-you-an-average-house?srnd=premium-asia

New Zealand manufacturing activity cools in March: BNZ survey
https://www.businesstimes.com.sg/government-economy/new-zealand-manufacturing-activity-cools-in-march-bnz-survey

Saudi Arabia's Long-Delayed Banking Hub Gets a Trendy Makeover
https://www.bloomberg.com/news/articles/2019-04-11/saudi-arabia-king-abdullah-financial-district-entertainment?srnd=real-estate-and-home

 

Additional Articles of Interests - Local & Overseas Real Estate

Local & Overseas Real Estate - Full Article
http://www.asiaone.com/business
http://www.btinvest.com.sg/property
http://www.stproperty.sg/articles-property/singapore-property-news/c/11

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