Real Estate Daily News
12th April 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.
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.
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.
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.
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.
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.
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.
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.
Global Economy & Global Real Estate
Sweet-And-Sour Global Economy Gets Relief Signs, Bleak Forecasts
US labour market tightening; inflation pressures moderate
Fed signals patience in 2019 amid mounting risks to growth
House prices in London forecast to keep falling
China's Economy Is Likely to Grow ‘Well Above’ Target in 2019: Jefferies
China producer inflation picks up for first time in 9 months
'China's Manhattan' borrows heavily, but the people have yet to arrive
China Vanke mulls US$1b property management IPO
In Hong Kong, $1.2 Million Will Only Buy You an Average House
New Zealand manufacturing activity cools in March: BNZ survey
Saudi Arabia's Long-Delayed Banking Hub Gets a Trendy Makeover
Additional Articles of Interests - Local & Overseas Real Estate
Local & Overseas Real Estate - Full Article