Ascott Targets 150 Lyf Co-Living Properties By 2030 and More Asia Real Estate Headlines

In today’s roundup of regional news headlines, CapitaLand Investment unit The Ascott eyes an expansion of its Lyf co-living brand, China junk bonds drop in price amid the country’s deteriorating COVID situation, and analysts predict an upswing in Singapore home sales.

Ascott Targets 150 Lyf Co-Living Properties By 2030

CapitaLand Investment unit The Ascott has set a target to sign 150 properties with over 30,000 units under its Lyf co-living brand by 2030, the SGX-listed property manager announced at the official opening of Lyf One-North Singapore on Monday.

There are currently 17 Lyf properties with over 3,200 units in 14 cities and nine countries. The apartments, social spaces and experiential programmes are designed for guests to forge connections and nurture a strong sense of community, The Ascott said. Read more>>

China Junk Bonds, Property Stocks Drop Again

Chinese high-yield dollar bonds declined for a second day, as a three-week rally loses steam amid a worsening COVID outbreak and fading optimism over policy support measures.

Times China Holdings’ 6.75 percent bond due in 2023 dropped 4.9 cents to 57 cents as of 1.51pm in Hong Kong, according to Bloomberg-compiled prices, on pace for the largest decline since 17 February. CIFI Holdings Group’s 4.45 percent note due in 2026 fell 4.7 cents to 72.7 cents, poised for its biggest drop in four weeks. Read more>>

Singapore Private Home Sales to Rise in the Coming Months: Analysts

Singapore developer sales increased in March amid homebuyers “coming to grips” with cooling measures, according to analysts. The growth also came as the Lunar New Year seasonal lull passed.

“The expected rise in interest rates also encouraged some people to buy properties and lock in the current home mortgage rate,” said Nicholas Mak, ERA Realty’s head of research and consultancy. Read more>>

Singapore Heritage Bungalow on the Market for $19.8M

A freehold conservation bungalow at 759 Mountbatten Road in Singapore’s District 15 has been launched for sale with a guide price of S$27 million ($19.8 million) or S$1,295 per square foot.

Originally built in the 1920s, this colonial Victorian style bungalow sits within the Mountbatten Road Bungalow Conservation Area on a 20,847.54 square foot (1,937 square metre) site. A rear annex building was added in 1995, and its two pavilions were refurbished. Read more>>

Ascott REIT Said Pricing Green Bond

Ascott Residence Trust is pricing five-year senior unsecured sustainability-linked notes denominated in Singapore dollars, according to a client note seen by Shenton Wire.

The pricing is expected in the 3.85 percent area, with a landing guidance of 3.4 percent to 3.5 percent, the client note said. The client note said the offering was “benchmark”, suggesting the size is at least S$100 million ($73.3 million). Read more>>

Hong Kong Home Sales to Favour Small Units as Rates Rise

The relaxation of mortgages for more expensive flats in Hong Kong will propel sales in the short term only as an imminent interest rate hike keeps potential buyers away, industry insiders said.

The sales of lived-in homes worth between HK$10.01 million and HK$12 million ($1.3 million and $2.1 million) jumped by 57 percent to 199 deals in March, according to Ricacorp Properties data, after financial secretary Paul Chan on 23 February allowed loan-to-value ratios of 80 percent for mortgages of homes worth a maximum HK$12 million, up from the previous HK$10 million limit. Read more>>

Mainland Developers Bid More for Land as Controls Ease

Competition between developers for land in mainland China has intensified, recent auction figures suggest, a sign that supportive measures may be soothing the country’s bruised property market.

The premium on parcels of land in eight major cities that completed their first round of auctions for the year was 5.4 percent, an increase from last year, as homebuilders were prepared to go higher with their bids. The vast majority of the plots were bought by state-owned developers. Read more>>

Singapore Condo Resales Rose 35.6% in March

Prices of resale condominium units in Singapore edged up for the 20th straight month in March, with the number of transactions also picking up after falling for six consecutive months.

Last month, condo resale prices rose at a quicker pace of 0.8 percent compared with February’s 0.6 percent, according to flash figures from real estate portals 99.co and SRX released on Tuesday. Read more>>

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