Singapore Real Estate

Stanley Quek buys shophouses in Duxton Hill for S$19.6m

A consortium led by property investor Stanley Quek has picked up a couple of adjacent shophouses in Duxton Hill for S$19.6 million. The properties, which have three storeys and an attic, are on two separate land lots; however the units are linked, forming a distinctive corner shophouse lot. Tenants on the street level include Italian restaurant Latteria, which has also leased the open space next door from the state on a temporary occupation.

No End in Sight for Slide in Singapore Home Prices as Rates Rise

Rising borrowing costs and a weaker currency bode ill for Singapore’s home prices amid their longest slide in more than a decade. The three-month Singapore interbank offered rate has more than doubled in a year to the highest since 2008. The main benchmark for housing loans is seen rising further as it narrows the gap with the swap offer rate, a measure of borrowing costs influenced mainly by exchange-rate expectations. The spread reached the widest since 2009 as the Singapore dollar slumped 7 percent this year.

RCR top performer in resale prices of condos

Resale prices of non-landed private homes in Singapore inched up 0.2 per cent in August over the preceding month, according to SRX Property's flash estimate released on Tuesday. SRX's revised index value for July reflects a 0.1 per cent increase, a smaller gain compared with the 0.3 per cent increase posted earlier, when the flash estimate for that month was released.

Lafe seeks nod at EGM to sell 21 Emerald Hill units

Property investment firm Lafe Corp will hold an extraordinary general meeting on Sept 19 to seek shareholder approval for the sale of the unsold units at its Emerald Hill development to a company insider. And at least one shareholder is not happy about the planned move.

Latest smart construction technologies at BuildTech Asia

More than 150 brands are expected to fill the halls at the upcoming BuildTech Asia, an annual building and construction exhibition that will be held on Oct 13-15. Organised by Sphere Exhibits Pte Ltd and hosted by the Building Construction Authority (BCA), the trade event is into its fifth edition this year, with new exhibitor profiles which organisers say encompass the latest in smart construction technologies, ranging from heavy machinery and engineering equipment to software and management solutions.

Companies' Brief

Singapore property

Property stocks are trading near undeserving crisis valuations. Analysis of the peak and trough price-to-book valuations implies an attractive 7:1 reward-to-risk proposition. Our stress test shows deep value remaining in depressed market conditions. We believe the market has over-discounted the negative prospects. Maintain "overweight" on the sector. Key re-rating catalyst will be demand-side policy easing by the government. CapitaLand and Wing Tai are our top picks.

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