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Real Estate Daily News

22 Sep 2022 (Thu)
2022

Singapore Real Estate

New definitions of floor area could eat into developers’ saleable area - and margins - for condo projects
Earlier this month, the Urban Redevelopment Authority (URA) issued a circular on harmonisation of floor area definitions to be adopted by 4 government agencies: URA, Singapore Land Authority (SLA), Building and Construction Authority, and Singapore Civil Defence Force.
https://www.businesstimes.com.sg/real-estate/new-definitions-of-floor-area-could-eat-into-developers-saleable-area-and-margins-for

Amid frenzied buying at new home launches, developers may be signalling a peak
Over Sep 16 and 17, GuocoLand sold 508 units, or 84 per cent, of 99-year leasehold Lentor Modern’s 605 homes, at prices ranging from S$1,856 to S$2,538 per square foot (psf). Lentor Modern’s success follows strong take-up at recent launches of leasehold condominium developments in the Outside Central Region (OCR).
https://www.businesstimes.com.sg/opinion/amid-frenzied-buying-at-new-home-launches-developers-may-be-signalling-a-peak

New city-fringe condo prices climbing closer to those in central region
The median price per square foot (psf) gap between new, non-landed homes in the Core Central Region (CCR) and those in the Rest of Central Region (RCR) narrowed to 14.9 per cent in August, after having done so to 25.07 per cent in April, Huttons Asia has said in a new report.
https://www.businesstimes.com.sg/real-estate/new-city-fringe-condo-prices-climbing-closer-to-those-in-central-region

 

 

Singapore Economy

What the Fed's latest big rate hike means for Singapore
Singapore - Stock and bond prices plunged and the US dollar rallied as the Federal Reserve raised its benchmark rate to the highest level in 14 years to crush surging inflation.
https://www.straitstimes.com/business/economy/what-the-feds-latest-big-rate-hike-means-for-singapore

S'pore ranked most financially inclusive market but needs to buck up in some areas: Survey
Singapore - Consumers in Singapore are better placed than others around the world when it comes to the ease of acquiring financial services and products, said a new survey. It found that the country was tops in the area of financial inclusion, beating powerhouse economies such as the United States, Britain, Hong Kong and Japan.
https://www.straitstimes.com/business/economy/singapore-tops-global-financial-inclusion-index-needs-to-buck-up-in-some-areas

Navigating the high seas of Singapore’s talent and supply chain
The logistics and supply chain industry has seen deep and rapid waves of transformation in the last few decades. Global trade movements, supply chain disruptions, the e-commerce boom, and recent labour movements brought upon by Covid-19 have drastically changed how we operate.
https://www.businesstimes.com.sg/opinion/navigating-the-high-seas-of-singapores-talent-and-supply-chain

Singapore’s rising costs of running a business outpace Hong Kong
Singapore looks like an attractive location for firms wanting to exit Hong Kong, but they may find a move to the city-state hits their bottom line more than expected. With inflation soaring to the highest level in 14 years, expenses including the hiring of talent, office space and utilities are rising at a faster pace in Singapore than in its financial rival, where price increases have been more modest.
https://www.businesstimes.com.sg/real-estate/singapores-rising-costs-of-running-a-business-outpace-hong-kong

 

Views, Reviews, Forum and Others

How Singapore-global enterprises can seize opportunities in South-east Asia
This is an opportune time for Singapore-global enterprises (SGEs) to deepen their presence in South-east Asia. Over the next couple of years, the region is expected to be a bright spot amid global uncertainties as growth returns close to pre-pandemic trends – unlike other major economies.
https://www.businesstimes.com.sg/sme/how-singapore-global-enterprises-can-seize-opportunities-in-south-east-asia

Singapore's green transition: How to win hearts and minds
The proposal for consumers of pre-packaged drinks to pay a 10- or 20-cent deposit, reclaimable upon return of the beverage container ("Canned, bottled drinks may cost 10 to 20 cents more in recycling scheme", Sept 21), will help to boost Singapore's national recycling effort.
https://www.straitstimes.com/opinion/byinvitation-singapores-green-transition-how-to-win-hearts-and-minds

NEA's proposed recycling scheme for drink bottles and cans ‘good in theory’ but execution will be tricky, consumers say
Singapore — Some coffee-shop owners and consumers said that a proposal to boost the recycling rates for beverage containers through a deposit return scheme is good in theory, but they are concerned that improper execution could lead to greater inconvenience for everyone.
https://www.todayonline.com/singapore/nea-recycling-drink-bottles-cans-consumers-coffee-shops-1997981
https://www.straitstimes.com/singapore/environment/canned-and-bottled-drinks-to-come-with-a-10-20-cent-deposit-by-mid-2024-redeemable-when-recycled

 

 

Global Economy & Global Real Estate

‘Buckle up’ as inflation fight threatens growth, IMF chief warns
https://www.businesstimes.com.sg/government-economy/buckle-up-as-inflation-fight-threatens-growth-imf-chief-warns

Federal Reserve goes big again with latest rate hike of 75 bps; Powell vows to ‘keep at it’
https://www.businesstimes.com.sg/government-economy/federal-reserve-goes-big-again-with-latest-rate-hike-of-75-bps-powell-vows-to
https://www.straitstimes.com/world/united-states/us-federal-reserve-delivers-another-big-rate-hike-powell-vows-to-keep-at-it
https://www.straitstimes.com/business/economy/us-fed-raises-key-interest-rate-by-075-percentage-point-as-recession-fears-mount

With latest rate hike, US Fed signals willingness to accept recession to crush inflation
https://www.straitstimes.com/business/economy/fed-signals-willing-to-accept-recession-to-crush-inflation

US bank CEOs back Federal Reserve hikes during congressional grilling on economy, China ties
https://www.businesstimes.com.sg/government-economy/us-bank-ceos-back-federal-reserve-hikes-during-congressional-grilling-on-economy

US existing home sales fall less than expected in August
https://www.businesstimes.com.sg/real-estate/us-existing-home-sales-fall-less-than-expected-in-august

US mortgage interest rates reach 6.25%, highest level since October 2008
https://www.businesstimes.com.sg/real-estate/us-mortgage-interest-rates-reach-625-highest-level-since-october-2008

Britain to overhaul public company registry in dirty money crackdown: source
https://www.businesstimes.com.sg/government-economy/britain-to-overhaul-public-company-registry-in-dirty-money-crackdown-source

UK housing stocks rise on potential cut in stamp duty
https://www.businesstimes.com.sg/real-estate/uk-housing-stocks-rise-on-potential-cut-in-stamp-duty

Deutsche Bank’s new London headquarters to sell for a discount
https://www.businesstimes.com.sg/real-estate/deutsche-banks-new-london-headquarters-to-sell-for-a-discount

Bank of England set for second hefty rate rise in a row
https://www.businesstimes.com.sg/government-economy/bank-of-england-set-for-second-hefty-rate-rise-in-a-row

Swedish housing prices continue lower as cost surge looms
https://www.businesstimes.com.sg/real-estate/swedish-housing-prices-continue-lower-as-cost-surge-looms

Developer China Fortune Land’s debt plan meets with resistance
https://www.businesstimes.com.sg/real-estate/developer-china-fortune-lands-debt-plan-meets-with-resistance

In small Chinese cities, unsold housing stock hits highest level since 2019
https://www.businesstimes.com.sg/real-estate/in-small-chinese-cities-unsold-housing-stock-hits-highest-level-since-2019 

China Evergrande mulls asset transfer to property unit for debt payment
https://www.businesstimes.com.sg/real-estate/china-evergrande-mulls-asset-transfer-to-property-unit-for-debt-payment

China’s rulers seem resigned to a slowing economy
https://www.businesstimes.com.sg/opinion/chinas-rulers-seem-resigned-to-a-slowing-economy

Hong Kong finance chief says no sharp risk to property prices
https://www.businesstimes.com.sg/real-estate/hong-kong-finance-chief-says-no-sharp-risk-to-property-prices

Hong Kong central bank raises interest rate after Federal Reserve hike
https://www.businesstimes.com.sg/government-economy/hong-kong-central-bank-raises-interest-rate-after-federal-reserve-hike

ICP eyes Nagoya, Sapporo hotel stakes in 6.5b yen deal
https://www.businesstimes.com.sg/companies-markets/icp-eyes-nagoya-sapporo-hotel-stakes-in-65b-yen-deal

Japan unlikely to intervene to stem weak yen, half of economists say in poll
https://www.businesstimes.com.sg/government-economy/japan-unlikely-to-intervene-to-stem-weak-yen-half-of-economists-say-in-poll

Malaysia says 2023 economic growth to be lower than 2022
https://www.businesstimes.com.sg/government-economy/malaysia-says-2023-economic-growth-to-be-lower-than-2022

 

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