Ng Lang’s URA is tracking the boom in Singapore home sales
At the top of today’s headlines, Singapore’s housing market has rebounded with a 165 percent jump in the volume of private housing sold compared to a year ago. The housing sales surge has led to what could be the island nation’s biggest collective home sale ever, but not everyone as impressed, as leading investment bank UBS throws shade on the housing market in both Singapore and Hong Kong. Read on for all the details on these stories and more.
Singapore Private Home Sales Jump 165% in One Year
The number of new private homes sold in August jumped by 165 per cent from a year ago, according to Urban Redevelopment Authority (URA) data released on Friday (Sep 15).
Developers sold 1,241 units last month, 773 units or 165 per cent more than the 468 new private homes moved in August last year. Read more>>
UBS Avoids SG and HK Residential Projects on Policy Risks
The threat of government curbs to tame prices makes Singapore and Hong Kong residential property unattractive, the regional head of UBS Group AG’s real-estate investment arm said.
“We have no exposure in the Singapore residential market and we are very comfortable not having any exposure,” Graham Mackie, head of real estate for Asia Pacific at UBS Asset Management, said in an interview. “Historically it’s been very exposed to government policy intervention and that continues.” Read more>>
Mapletree Logistics Trust Aims to Raise S$640M in New Funding
Strong institutional demand has led Mapletree Logistics Trust (MLT) to price new units under its private placement exercise at $1.175, the top end of an initial range. It is raising up to $640 million through a private placement and preferential offering.
The trust manager said yesterday: “The private placement was approximately 3.3 times covered and saw strong participation from new and existing institutional, accredited and other investors.” Read more>>
S$1.65B Collective Sale Could Set New Singapore Record
Owners at the sprawling 660-unit Pine Grove near Ulu Pandan Road are hoping to pull off Singapore’s largest sale en bloc in dollar terms. They aim to launch a collective sale with an asking price of at least $1.65 billion – a price tag that would easily eclipse the record holder, the 618-unit Farrer Court’s $1.34 billion collective sale back in 2007.
If they achieve the collective sale, it would be third-time lucky for the Pine Grove owners who tried and failed in 2011 and 2008. Read more>>
Agile Group Hopes for Separate Listing for Property Management Business
Agile Group Holdings Ltd. (3383.HK) plans to spin off and separately list its property management unit on the Hong Kong stock exchange.
The Chinese real-estate developer said after markets closed Thursday that its unit, A-Living Services Co., has submitted a listing application to Hong Kong’s bourse operator. Read more>>
Co-Living Craze Catches on in Crowded Hong Kong
Safe, cosy and above all, affordable: a rare thing in Hong Kong, one of the world’s most expensive places to find a home.
But those are precisely the attributes that are driving young professionals in the city to opt for co-living spaces – small rooms built around communal living and cooking areas. Read more>>
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