Author: PropInvestSG

Home sales volumes rose 91% from the previous year in October to 928 units. This was a fall of 27% compared to Sept 2018 despite three new major project launches. Year to date volumes are up 13% compared to the same period last year. Year to date volumes are 8,397 units. The month’s new launches had low initial sale rates. GuocoLand’ 219-unit Midtown Bay sold 50 units at S$2,900 psf (take-up rate: 22%), Hong Leong’s 564-unit Midwood, condo which launched 50 units, sold 24 units at S$1,650 psf (take-up rate: 4%) and Allgreen’s 285-unit Royalgreen sold 42 units at...

Property prices (landed and non landed) rose 1.3% on a quarterly basis in 3Q2019. This is slightly lower than 2Q2019’s 1.5% increase, but still a good showing. Landed property prices rose 1.0%, compared to -0.1% in the previous quarter. Non landed property prices rose 1.3%, compared to 2.0% in the previous quarter. Among non-landed properties, prices rose the most in the core central region by 2.0%, followed by the rest of central region at 1.3% and then outside central region at 0.8%. Residential Property consultant JLL commented that there was strong transaction momentum in 3Q 2019, where developers launched...

Quoting the Urban Redevelopment Authority’s (URA) fourth quarter 2018 housing statistics, Morgan Stanley reports that unsold inventory rose, but they think it is temporary. While vacancies fell faster than they expected, it did not translate into higher rents. Home prices fell 0.1% QoQ in 4Q18. The fall in home prices on a quarterly basis is unchanged following an earlier release on 2 Jan 2019. Non-landed suburb and city fringe prices grew 1% and 2% respectively, in the quarter. Full year 2018 home prices growth was 7.9% and Morgan Stanley thinks it can grow another 5% in 2019 Unsold inventory rose. Unsold...

Singapore’s 3Q18 GDP grew at a slower 2.2% pace, below economists’ expectations of 2.4%, as the manufacturing and services sectors disappointed. The growth figure was also revised downwards from advance estimates of 2.6% and was lower than the 4.1% growth in 2Q18. Manufacturing grew 3.5% in 3Q18, moderating from 10.7% in 2Q18, while services expanded by 2.4% (2Q18: 2.8%). Construction continued its contraction, falling by 2.3% (2Q18:-4.2%). The Ministry of Trade and Industry (MTI) is projecting that the economy will grow by 1.5 – 3.5% in 2019 (2018: 3.0 – 3.5%), with the main growth driver to shift from...

Co-working is not just a new, niche sub-sector. Its rise is a reflection of a changing world of employment, writes Christopher O’Dea “The nature of work is changing. Recruitment, retention, innovation, and productivity now require not just coffee, but also yoga, not just printers, but also art installations.” The above is taken from the homepage of WeWork’s website. The core appeal of co-working is simple: let us handle that for you – front-office reception, utilities, and all the chores related to maintaining office space – so you can focus on your business. The popularity of flexible office concepts in...

In a report by CBRE on third quarter 2018 hotel activity, investment transaction volume was observed to decline as activity was constrained by lack of stock for sale. In summary Korea investment activity recovered as several mid-range hotels change hands amid heightened interest from local and foreign investors Both local and foreign investors see Thailand as an interesting investment destination Shortage of assets for sale in Japan resulted in few small and medium related party deals Quality assets remain tightly held in Hong Kong, resulting in few transactions Sentiment is strengthening in Singapore as hotel performance came in solidly...