Singapore Real Estate

Hougang BTO project gets top marks for quality

For the first time, a public housing project has achieved the Conquas Star rating, the highest possible accolade for construction quality and workmanship. The Build-To-Order (BTO) project, Hougang Capeview, was one of 12 projects for which contractors won Housing Board Construction Awards this year.

http://www.straitstimes.com/singapore/housing/hougang-bto-project-gets-top-marks-for-quality

http://www.channelnewsasia.com/news/singapore/hougang-bto-development/2134928.html


Higher repayments ahead for home loans

The recent surge in interest rates is going to bite home buyers who are facing an increase in monthly instalments which could run into hundreds of dollars. And that will rub salt further into the wound for those with investment properties, as rentals are dropping like ten pins. The Urban Redevelopment Authority's overall private residential rental index in the second quarter of 2015 was down 2.7 per cent from Q4 2014.

http://www.businesstimes.com.sg/banking-finance/higher-repayments-ahead-for-home-loans


Tiong Bahru Plaza to reopen next year after $90m revamp

Tiong Bahru residents will soon have a newly refurbished mall to go with the hipster joints and boutiques their estate is known for. By the end of next year, the 21- year-old Tiong Bahru Plaza will fully reopen with a more modern look after renovations, which began a year ago, are completed.

http://www.straitstimes.com/singapore/tiong-bahru-plaza-to-reopen-next-year-after-90m-revamp


Marina One unveils anchor retail tenants

Marina One, the mixed development in the new financial district of Marina Bay, unveiled its retail anchor tenants on Friday, and they include the fitness club Virgin Active, Cold Storage supermarket and Cookhouse by food-court operator Koufu. This comes ahead of the expected 2017 issuance of the Temporary Occupation Permit for the development, operated by M+S Pte Ltd and owned 60:40 by Malaysia's Khazanah Nasional Berhad and Singapore's Temasek Holdings respectively.

http://www.businesstimes.com.sg/real-estate/marina-one-unveils-anchor-retail-tenants

http://www.straitstimes.com/business/property/anchor-tenants-secured-for-marina-one


Town club loses appeal over value of property

The Valuation Review Board has dismissed a town club's appeal that the total annual value of its property for the years 2003 and 2004 was set too high, at $7.3 million.

The Legends Fort Canning Park, a restored historical building, wanted the court to slash the total assessment by the Chief Assessor (CA) to $3.12 million instead. The annual value is used for the purpose of computing the property tax payable.

http://www.straitstimes.com/singapore/town-club-loses-appeal-over-value-of-property


Design reviews delay opening of Geylang Serai community hub

http://www.todayonline.com/singapore/opening-community-civic-hub-geylang-serai-delayed-2018


Companies' Brief

S-Reits rebound after Fed holds rates for now

As has been the case each time an anticipated rate increase turned out to be another false alarm, real estate investment trusts (Reits) enjoyed some boost after the US Federal Reserve kept interest rates unchanged. The FTSE ST Reits Index rose as much as 2.5 per cent in the morning, before ending at 694.15, up 0.5 per cent. This outdid the Straits Times Index, which fell 0.6 per cent to 2,879.59.

http://www.businesstimes.com.sg/companies-markets/s-reits-rebound-after-fed-holds-rates-for-now


Singapore real estate investment trusts (S-Reits): 

The FTSE ST Reits Index rose as much as 2.5 per cent on Friday, before ending at 694.15, up 0.5 per cent. This outdid the Straits Times Index, which fell 0.6 per cent to 2,879.59. This came after the US Federal Reserve kept interest rates unchanged. Reits are rate-sensitive vehicles whose prices tend to move inversely to interest rates, but analysts advised investors against getting carried away, and remained doubtful that the near-term liquidity rush into the sector will revive its index back to the over-770 level that it was at in late July.

http://www.businesstimes.com.sg/stocks/stocks-to-watch-sembcorp-s-reits-ascendas-reit-asiatravelcom-shs-holdings


Ascendas Reit

Making its foray into Australia, Ascendas Reit on Friday said it is snapping up a portfolio of 26 logistics properties at one go for A$1.01 billion (S$1.02 billion) - a move that will turn the Reit into the eighth-largest industrial landlord there. The combined portfolio is said to be about 90 per cent owned by the real estate arm of GIC and some 10 per cent owned by Frasers Property Australia (the former Australand). These freehold properties are mainly located in Sydney, Melbourne and Brisbane, and one is in Perth.

http://www.businesstimes.com.sg/stocks/stocks-to-watch-sembcorp-s-reits-ascendas-reit-asiatravelcom-shs-holdings

http://www.businesstimes.com.sg/companies-markets/a-reit-buys-aussie-assets-for-a101b

http://www.straitstimes.com/asia/australianz/a-reit-buys-1b-aussie-logistics-portfolio


Centurion Corp

Maintain "Buy" but with a slightly lower discounted cash flow-based target price of S$0.69, from S$0.725 (-4.8 per cent), as we adjust our earnings forecasts to account for the higher financing costs and increase our cost of equity to account for the greater uncertainty in the macro environment.

http://www.businesstimes.com.sg/wealth/brokers-take-25


China Merchants Property Devt to delist from SGX

Mainboard-listed China Merchants Property Development (CMPD) has proposed to delist from the Singapore Exchange (SGX) after its proposed merger with its controlling shareholder China Merchants Shekou Industrial Zone Holdings (CMS). CMS, a property firm, will acquire CMPD via a share swap, said CMPD in a filing with the SGX yesterday.

http://www.straitstimes.com/business/companies-markets/china-merchants-property-devt-to-delist-from-sgx


Views, Reviews & Forum

Keeping Home Protection Scheme premiums affordable

We thank Mr Benjamin Png Kehao for his feedback ("Don't penalise potential flat owners with pre-existing illnesses"; Monday). The Home Protection Scheme (HPS) is a mortgage-reducing insurance that covers HDB flat owners with outstanding housing loans.

http://www.straitstimes.com/forum/letters-in-print/keeping-home-protection-scheme-premiums-affordable


Public can flag safety lapses at construction sites

I have seen migrant workers toiling at construction sites with insufficient safety equipment and mere half-hearted attempts to follow safety regulations. They are outdoors in the haze for the whole day without wearing N95 masks. Some deal with loud machinery without ear plugs or ear muffs. Cotton gloves are drastically lacking to protect those using heavy drilling equipment.

http://www.straitstimes.com/forum/letters-in-print/public-can-flag-safety-lapses-at-construction-sites


Global Economy & Global Real Estate

Mapletree sees Vietnam as growth opportunity

Real estate in Vietnam is at a different stage in the property cycle from the rest of South-east Asia and there are signs that the market is turning, according to Mapletree Investments' chief executive officer for the region. The real estate company officially opened SC Vivocity yesterday, its first shopping mall in the country, and is working on a possible second integrated development in Ho Chi Minh City, Ms Wendy Koh said at an interview on Saturday.

http://www.straitstimes.com/business/property/mapletree-sees-vietnam-as-growth-opportunity

http://www.businesstimes.com.sg/real-estate/mapletree-officially-opens-us100m-ho-chi-minh-mall

http://www.channelnewsasia.com/news/singapore/mapletree-expands-in/2140146.html


Frasers Centrepoint unit to raise A$112m from Aussie asset sale

Frasers Property Australia Pty Ltd (FPA), a wholly owned subsidiary of Frasers Centrepoint Ltd, will raise about A$112 million (S$112.4 million) from the sale of its stake in its Australian logistics portfolio to Ascendas Real Estate Investment Trust (A-Reit). The assets are part of the A$1.01 billion acquisition that A-Reit announced last week, which includes property wholly owned by GIC as well as property held as a joint venture between GIC and FPA.

http://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-unit-to-raise-a112m-from-aussie-asset-sale


UK house prices hit record high as squeeze leads to 'extremes'

http://www.businesstimes.com.sg/real-estate/uk-house-prices-hit-record-high-as-squeeze-leads-to-extremes


Prices of prime and new residences in London dip

http://www.businesstimes.com.sg/real-estate/prices-of-prime-and-new-residences-in-london-dip


Miami condo market swings back to boom time

http://www.businesstimes.com.sg/real-estate/miami-condo-market-swings-back-to-boom-time


Construction at NY buildings declared 'vacant' for work riles their tenants

http://www.businesstimes.com.sg/real-estate/construction-at-ny-buildings-declared-vacant-for-work-riles-their-tenants


China's home prices up for 4th straight month

http://www.businesstimes.com.sg/real-estate/chinas-home-prices-up-for-4th-straight-month


Fuld's estate in Sun Valley sets record at auction

http://www.businesstimes.com.sg/real-estate/fulds-estate-in-sun-valley-sets-record-at-auction


New Home ‘Tsunami’ May Snap Sydney Romance With Exuberant Prices

http://www.bloomberg.com/news/articles/2015-09-20/new-home-tsunami-may-snap-sydney-romance-with-exuberant-prices


Deutsche Wohnen Offers to Buy LEG to Challenge Vonovia

http://www.bloomberg.com/news/articles/2015-09-20/deutsche-wohnen-plans-to-buy-leg-in-bid-to-compete-with-vonovia


Household Wealth in U.S. Rose in Second Quarter on Real Estate

http://www.bloomberg.com/news/articles/2015-09-18/household-wealth-in-u-s-rose-in-second-quarter-on-real-estate