Co-living company Hmlet, a homegrown operation, Hmlet has announced its debut hotel property -the Owen House by Hmlet The hotel has 106 rooms situated at 2 Owen Road in Farrer Park. This is the first hospitality property owned by Hmlet and will be operated under its own brand name and managed by its own management team.

Kassia Flora Drive floor plan has 280 residential units on a 150,840 sq ft plot in various configurations ranging from one to four bedrooms.

“As Hmlet expanded its range of services for residential customers through the years, the business has grown and developed its capabilities to run operations and in-house expertise in design, which is why we have the ability to get into the hospitality market,” says Joshua Li Hmlet’s chief property officer.

“Hotels can be a natural evolution for us, in terms of being able to provide an array of accommodation options as part of the company’s value offering,” says Li. Li also says that the company was considering whether to establish and manage the management of a hotels property with its own name name for a long time, but the Covid pandemic delayed the plan.

So, when the opportunity was presented last year to Hmlet to collaborate with TCRE Partners and JMD Group for the hotel that is located situated at 2 Owen Road, it was an opportunity Hmlet would not wish to be missing, according to Giselle Makarachvili who is the CEO of Hmlet.

The hotel’s freehold property is the previously owned Fortuna Hotel that was sold for $85.8 million in April 2022. The hotel was purchased by an entity equal in ownership between JMD Group and TCRE Partners. The agreement with Hmlet was officially announced in November of last year.

The right time is now to start Owen House by Hmlet to profit from the growth in leisure and business travel to Singapore Says Makarachvili.

Other current market trends like the escalating residential rents and the lack of accommodation for short-term stays in Singapore are also a reason to consider the opening of an hotel property and is likely to increase Hmlet’s range of accommodations according to Li.

Modern Art Deco inspiration

The design and style that characterize Owen House are meant to be light and fun and steers clear of being ostentatious and modernist, which could be to be considered in the area, says Li. “The concept behind the hotel is a contemporary rendition that is a modern interpretation of Art Deco and the Art Deco-style shophouses that line the adjacent Rangoon Road as well as Kitchener Road,” he declares.

As an example, a common aspect throughout the hotel as well as in each room is the arches. They are supposed to represent the style of architecture that was prevalent in the Art Deco-styled shophouses. On the first level, the lobby is adorned with a the concrete floor with a texture, and the room is accentuated by striking black and bold metallic lines.

The lobby is the main central feature of the hotel. Hmlet is planning to make it an area that is accessible to everyone. Its appeal is enhanced with an island-style bar named Sunlight and Moonshine which is run through the Hotel. The bar offers grab-and-go special coffee throughout the day and then transforms into a 1920s-themed bar with cocktails at night.

Li credits the vision of design to the design team in-house at Hmlet which is a skill is not the case for other operators of flexible living in Singapore are able to offer. “The design team is extremely concerned about the standards of our brand throughout every one of our properties. Each space is customized to that Hmlet brand and portrayed in a unique way at each of our properties,” he says.

Owen House offers seven different rooms that are two and one-bedroom units in various dimensions. The smallest of them are one-bedroom Queen rooms that range from between 189 and 275 square feet and studios that come with fully-equipped kitchenettes which range from 243 to 270 sq feet.

Rooms that are larger for up to four guests. These include two-bedroom luxury and two-bedroom suites, which vary from 450 to 564 square feet. The hotel also provides the family room, which has an outdoor balcony of 407 sq feet. There are also numerous Owen Suites equipped with a kitchenette as well as a eating area for long-term stays. These suites span between 374 and 439 sq feet.

A wide choice of accommodations

“Before Owen House, we recognized a gap in our selection for short-term stay, particularly for those who wish to stay less than 6 nights” Says Makarachvili. She also says that most business and leisure travelers to Singapore stay in Singapore for the equivalent of about three to four days. They use Singapore as a base to travel to other destinations across Southeast Asia.

“The purpose for our model of business is to reach every type of residential property population demographics” the CEO says. Therefore, Hmlet distinguishes itself through its vast array of options for flexible accommodation.

For instance, its Hmlet Homes portfolio offers the typical co-living arrangement, which pairs individuals with tenants and consists of shared apartment units. It has proved popular with workers and students. Typically, tenants lease a space for 9 to twelve months.

Hmlet has expanded its offerings in 2021, with a private, turnkey residence known as Hmlet Nest that is targeted at couples from the local community as well as expatriate families. The launch was due to a rising demand from the market for flexible living arrangements in Singapore and Singapore, where families typically rent a house for more than one year.

In the end, its Boutique Collection comprises the 145-room Hmlet Cantonment as well as the Owen House, which is 106 rooms. Owen House hotel. Hmlet Cantonment is the operator’s largest co-living property across its portfolio, and was introduced in the year 2019. The typical bookings at Hmlet Cantonment run under six months and the property provides one-bedroom units ranging from up to 280 square feet and two-bedroom units ranging from up to 441 sq feet.

The launch the doors of Owen House, Hmlet has the full range of accommodations choices for very short-term stays for tourists and travellers and private residential leases for couples and families, and long-term co-living options for individuals and corporates.

“We haven’t considered the millennials as our only target audience; rather, we’d like to appeal to a broad spectrum of targeted audiences, from corporate tenants to family members to professionals. Additionally, Owen House helps us to complete the necessary forms for the short-term stay we didn’t have,” says Makarachvili.

“The primary goal isn’t to lose clients and, if somebody signs an agreement to renew their lease or book an apartment with us and they decide to stay for longer in Singapore We have an option that will meet the requirements of those who are interested,” she says.

70% lease renewals in 2022

According to Makarachvili 2022 was 2022’s most successful year that the operator of flexible living has enjoyed in Singapore. A limited private rental market and quickly increasing rents resulted in an extremely high percentage of lease renewals and inquiries.

She states that around 70% from their lease holders whose contracts were scheduled to renewal in the last year chose to extend their lease through Hmlet. “The remaining tenants who did not renew with us were groups and individuals who left across the nation.”

She also says that only a handful of people had left an Hmlet property to sign the direct rental arrangement with an owner.

In general, the rise in residential rental prices for private homes in recent months have helped to put cooperative living and other flexible properties as more reasonable and appealing view for renters who are renting Li says. Li.

In 2022 as a whole the prices of renting residential properties in Singapore rose by 29.7% y-o-y. This was the biggest annual increase since 2007 , when rents soared to 41.2% y-o-y at the time.

“Co-living is a more appealing option with lease flexibility. With the uncertainty in the macroeconomic outlook this year, we’re more suitable for those looking for housing,” says Li.

As a well-established co-living company with a long-standing presence in Singapore, Hmlet has grown along with the local co-living and flexible living sector in Singapore. Li recalls that in 2018, when Hmlet completed its Series-A financing as a startup, the majority of the investors who were willing to invest in it were family offices as well as entrepreneurs with high net worth.

“Today the market for co-living has institutional capital flooding into the marketplace, along with well-established families and funds for investment” the author declares. “Hmlet is always in contact with institutions and institutional funds in Singapore, Hong Kong, and other markets.”

In addition, he states that the market has gone several ways to demonstrate its resilience in times of crises, since the co-living market in Singapore has been able to weather the Covid-19 pandemic with ease. “Post Covid-19, assets from co-living demonstrate that their total yield is extremely robust. In addition in the case of Hmlet we’ve demonstrated that we are able to access the short-term portion and provide full operational assistance,” says Li.

Makarachvili states that the faith investors and consumers are placing for Hmlet has also increased in leaps and leaps and. “We have demonstrated our strength in competitive position in the market and our capability to manage and run whole building,” she says.

She also says that the majority of those seeking short- and long-term housing in Singapore and landlords and property owners recognize that co-living is more than just affordable housing for the millennial population. “As the result, we’ve had requests from a broad variety of backgrounds, including professional individuals, corporate bookings and even individual reservations,” she notes.

Fusion with Habyt

However, some structural changes affected the local Hmlet in the past year. The most notable change was the merging with European co-living operator Habyt Group in April 2022. The deal led to Hmlet becoming part of the Habyt Group which includes the world portfolio that includes more than 8,000 coliving and living units with flexible arrangements spread in 10 countries and 20 cities.

In the end, Makarachvili is also the head of Habyt. as director for Asia Pacific (Apac) at Habyt as well as Li is the head of the head of expansion at Habyt, Apac. Both work under Lucca Bovone, founder and CEO of Habyt.

Between 2020 to 2021 Hmlet experienced a series of setbacks. The first was in November of 2020, when it announced that it had terminated its five-year master lease that was used to manage as well as lease 43 homes in Lumiere at Tanjong Pagar. In June 2021, an Australian co-living company took over one of the properties in Sydney Hmlet St. Peters. The time was when Australian press reported Hmlet had left the Australian market with around A$500,000 of outstanding dues.

According to Makarachvili the reason for this merger Habyt was about supporting Hmlet’s regional expansion plans as well as leveraging an international network to aid the company’s growth.

“We benefit from potential synergies (as an affiliate of Habyt Group) and benefit from lead generation, exposure, a larger market presence, as well as the trust of our members,” she says. “We would like to join forces with a company with a global presence. This is an essential element for any co-living business.”

Li claims that the business is taking a risky approach to expanding into Asia and is looking for local real estate brokers to assist them in unlocking existing properties.

Hmlet currently has co-living homes located in the 23 properties within Hong Kong, as well as co-living units located in Tokyo, Japan. The company is expected to launch co-living units in at least six additional Tokyo residential buildings before the end of the year.

Looking ahead, Makarachvili believes she believes that Kuala Lumpur residential market is one that the company is hoping to expand rapidly in the coming years. It’s got all the qualities of a desirable gateway city that offers affordable co-living homes to grow and thrive despite the high rents she says.

As per Li and Makarachvili, they’re watching closely for the rising interest rates which will increase the cost of financing as well as the rising construction costs that could impede the short-term expansion plans for this year. But, they are happy with the growth in the local hotel market and are expecting Owen House to see high and constant occupancy in the next few months.

Kassia condo price

According to research from Savills, Singapore and Dubai are expected to lead the price charts across the globe in the coming year. the most expensive homes properties within both of these cities predicted to rise in 6%-7.9% on a yearly basis. “Both locations will experience steady flow of high-net-worth people However, they will be impacted by more expensive interest rates or other economic challenges,” according to the Savills report states.

Kassia condo price will feature 280 residential units on a 150,840 sq ft plot in various configurations ranging from one to four bedrooms.

“Moving to 2023 in Singapore, the premier residential market is currently in an issue that has seen a few new launches. With the opening of borders in China to travel outside of China and outbound travel, the chance for this sector of the market for private residences to perform better than the other segments is very high.” claims Alan Cheong, executive director of research and consulting for Savills Singapore.

Miami in America along with Milan within Italy are positioned to claim the third place with a predicted price increase in the range of 4%-5.9% y-o-y in 2023. In the meantime, Cape Town in South Africa, Rome in Italy as well as Kuala Lumpur in Malaysia could have prices rise by 2%-3.9% on a yearly basis in the coming year.

The prices of prime homes of Hong Kong were hit hard this year, dropping 8.5%, and the city is likely to see more declines this year, which range from 7.9%-6%. However, the city is likely to remain among the most expensive housing markets worldwide, with prices of $4,070 per sq ft.

“Overall most of the most sought-after residential markets in the world are set to see a slowdown in 2023 with an average increase in the range of 0.5% forecast across the 30 cities around the world which are monitored by Savills,” the report declares.

Based on the 30 largest cities which are tracked by Savills the global consultancy claims that 17 cities will experience slow growth in comparison to 2022, with a number of cities likely to experience drops. “Recessionary situations, rising rate of interest and rising inflation will impact the residential market’s performance, however the second quarter of the year has possibility of global economic growth,” said Paul Tostevin who is the director of Savills global research.

Kassia showflat address

International real estate consulting firm Knight Frank has teamed up with Berkadia, commercial real estate company and joint venture between Berkshire Hathaway and Jefferies Financial Group to create an international capital market platform.

Kassia showflat address has a range of amenities closeby, from dining and shopping to entertainment. Kassia Condo is close to reputable schools like Ngee Ann High School and supermarkets like Cold Storage and NTUC Fairprice.

Multi-market clients will have access to investors from across the world as well as banks from around the world, international institutions as well as sovereign wealth funds. The capital markets platform encompasses all major hubs as well as sources of capital throughout the world.

In a release issued by Knight Frank, the partnership is in the midst of a boom in investment activity by US-dollar investors looking to profit from “a rising dollar and an interest in diversifying portfolios as well as focusing liquidity across a broad geographic and sectoral spectrum”.

It is also estimated the fact that 30% of capital inbound to inbound capital to Asia Pacific this year is anticipated to originate from the US and over 20% in Asia’s export activities are likely to flow into different sectors in the US.

Berkadia is a market leader in the housing sector in the US as well as Knight Frank holds a leading position in the UK for the private rental industry. “Living sectors are now a major growth zone in the eyes of Asia Pacific investors. Asia Pacific cross-border investments into living sector globally accounted for an overall volume of US$10.7 billion [$14.8 billion] by 2022, which represents which is a 95% rise in comparison to 2021,” in the release states.

“This alliance is focused on making sure that our clients’ needs are met and giving them a global capital market service,” says Neil Brookes the global head of the capital market division of Knight Frank.

Justin Wheeler, CEO of Berkadia The CEO of Berkadia, Justin Wheeler, believes that the collaboration between Berkadia and Berkadia will bring numerous benefits for customers both ways.

Kassia Condo Flora Drive

CapitaLand Ascendas REIT (CLAR) has reported 3.5% higher y-o-y distribution per unit (DPU) to 15.798 cents, backed by the portfolio’s occupancy, which reached an all-time high that was 94.6% in FY20222 ended December.

Kassia Condo Flora Drive is just a few minutes walk from Pasir Ris East MRT and within easy reach of Tampines East MRT.

Reit’s DPU for 2HFY2022 climbed in value by 4.3% y-o-y to 7.925 cents.

The FY2022 gross revenue grew in FY2022 by 10.3% y-o-y to $1.35 billion. The net property earnings (NPI) was up 5.2% y-o-y to $968.8 million.

The total amount of distribution increased 5.4% y-o-y to $663.9 million.

CLAR concluded $223.4 million worth of acquisitions by 2022. The money was used to fund 3 acquisitions within both the US and Australia logistical sector.

In Australia Two newly constructed logistics properties 500 Green Road ($69.1 million) located in Brisbane in addition to seven Kiora Crescent ($21.1 million) located in Sydney The properties were purchased in February 2022. In the US seven last-mile logistical properties situated in Chicago were purchased for $133.2 million in June 2022.

As of December 31st 2022 the CLAR’s $16.4 billion portfolio included customers that included over 1,720 customers. The portfolio is diverse over Singapore (62%), the US (15%), Australia (14%) and Europe/UK (9%).

Investment properties of CLAR’s 227 properties are located in three distinct categories: Business Space and Life Sciences (48%), Logistics (25%) and Industrial and Data Centres (27%).

CLAR has achieved positive rental reversions at 8.0% for leases renewed in multi-tenant buildings between 2022 and 2023.

CLAR’s portfolio’s average weighted lease expiry (WALE) duration was 3.8 years. Around 21.0% of CLAR’s gross rental income is due to be renewed in FY2023.

As of December 31st, 2022, the aggregate leverage was stable as 36.3% from 35.9% at the same time last year.

The country has an average of% of borrowings being at a fixed rates CLAR’s weighted mean the all-in costs of borrowing climbed up to 2.5% in FY2022 from 2.2% in FY2021 despite the sharper rise in interest rates across the world.

William Tay, CEO and executive director of the manager states: “We achieved strong results across all assets, despite the uncertain macroeconomic environment… As we move forward, we’ll continue to draw on our financial strength as well as our operational capabilities and diverse portfolio to ensure the safety and expansion of our businesswhile taking an empathetic approach in the face of constant uncertainty in the global economy and current interest rate environment.”

CLAR’s units CLAR were up 4 cents (or 1.38% up, at $2.94 on February 2.

Kassia architect

The administrators of CapitaLand Ascott Trust (CLAS) have announced a distribution per stapled security (DPS) of 3.33 cents for the second quarter of FY2022 that which ended on Dec 31 2022. Its DPU of the 2nd quarter of FY was 47% more than the 2HFY2021’s DPS that was 2.27 cents.

Kassia architect will feature 280 residential units on a 150,840 sq ft plot in various configurations ranging from one to four bedrooms.

In Fiscal year 2022, CLAS’s dividend per share rose by 31% year-over-year to 5.67 cents, which is up over FY2021’s 4.32 cents.

Inclusion of one-off items such as the gain from divestment of $45 million, which was distributed in FY2021, the adjusted DPS for FY2022 grew by up 106% year-over-year up to 4.79 cents.

In the 2HFY2022 CLAS’s revenues grew by 70% year-over-year to $353.8 million as a result of an increase in revenues from its existing portfolio as well as the contributions from its portfolio of assets that are longer-stay.

Gross profit increased by 80% year-over-year up to $164.6 million. The profits came of the trust’s properties with master leases properties that are on contracts for management with guaranteed minimum incomes, as well as properties under management contracts.

On a similar store basis the gross profit and revenue for the 2HFY2022 was up by the sum of 58% as well as 67% respectively.

In the wake of the rise in gross profit and revenue CLAS’s total distribution for the 2HFY2022 year increased by 54% year-over-year up to $113.2 million.

The six-month period was a success for CLAS. CLAS announced revenue for each unit available (RevPAU) at $143. which was up by an average of 81% over the previous year, and CLAS continued to show excellent operating results in the wake of the revival to international flights.

RevPAU for 4QFY2022 increased by 78% in a one-on-one basis to $155. The quarter’s RevPAU was at levels pre-pandemic for CLAS similar to its pro forma 4QFY2019 RevPAU that also comprises the overall performance the Ascendas Hospitality Trust’s (A-HTRUST) portfolio.

All of CLAS major markets reported RevPAU growth q-o-q The largest improvement emanating from Japan, Australia and the USA. CLAS’ portfolios in Singapore, Australia, the UK and the US were at pre-Covid RevPAU levels.

CLAS’s occupancy rate for 4QFY2022 was 78%. At the time of December 31st 2022, the CLAS’s rental and student accommodations in addition to rental properties reported the highest occupancy of more than 95%.

In FY2022, the revenue of CLAS was up an average of 58% over the previous year to $621.2 million, due to increased revenue from its existing portfolio, as well as contributions from properties purchased during the year. The increase was partially offset by the lower revenues from divestments during the FY2021.

The gross profit rose by 33% year-on-year to $282.8 million, mostly due to increase in revenues

The total distribution of the year was up by 38% from a year ago up to $189.8 million.

RevPAU for FY2022 increase by 774% from a year ago to $120.

At the end of December 2022 CLAS reported a gain in fair market value of approximately $200 million in the value of its portfolio due to improved operating performance and a better prospects regarding its properties. The key markets of the trust that have gain in valuation are Australia, Singapore, the UK and the US.

In cash as well as cash equivalents, as at December 31st, 2022, was in the range of $298.9 million.

“CLAS’s strong performance is backed by our well-balanced and diverse portfolio. The growth income contribution grew by 48% in the second quarter of FY2022, due to the fact that our properties experienced an increase in demand as a result of the recovery in the hospitality industry following Covid-19. Our stable income streams provided a cushion against negative risks,” says Bob Tan Chairman of the management.

“To improve our stable income portfolio CLAS has invested in the amount of $420 million over 15 acquisitions that were accretive during FY2022, mostly in the long-stay segment,” he adds.

Serena Teo, CEO of the management team, says they are “cautiously optimistic” of the industry’s ongoing growth.

“We believe that CLAS will continue to reap the benefits from the reopening of additional destinations as well as the sluggish need for tourism. In the next year, we’ll be implementing assets enhancement programs (AEI) in four properties located in Singapore, France, Germany and UK. These AEIs will boost the value and value on these properties and also increase our income streams” she says.

“We remain cautious in our capital management strategy in the search for opportunities to restructure our portfolio. The latest acquisition we made of an apartment rental property located in Fukuoka will help CLAS increase its income ability to withstand the test of time. Fukuoka is one of the fastest-growing cities of Japan and our current rentals properties located in Fukuoka have proven to be successful,” she adds.

DPS will be paid out on March 1. DPS to be paid on the 1st of March.

Units of CLAS ended the day 1 cent less (or 0.93% down at $1.07 on January 27.

Kassia condo for sale

Based on the most recent quarterly HDB price data that were released on Jan 27 prices for flat resales were up 2.3% q-o-q in 4Q2022. The total price rise for 2022 at 10.4% compared to the 12.7% price gain recorded in 2021.

It also marks the fourth consecutive year of increases in HDB prices for resales from the beginning of 2019. The this quarter’s price increase was the slowest pace of growth since 3Q2020.

Kassia condo for sale will feature 280 residential units on a 150,840 sq ft plot in various configurations ranging from one to four bedrooms.

The total amount of HDB Resale transactions decreased to 6,597 transactions in the 4th quarter of 2022 lower than the 7,546 transactions recorded in the prior quarter. The volume of transactions during 4Q2022 were 16.9% lower than in 2021.

The slower pace is due to the slower pace of market activity because of the downturn in activity in the final quarter season, and also the new property cooling measures, which were announced in September of last year according to Wong Siew Ying, PropNex Realty’s director of content and research.

The same sentiment is shared by Lee Sze Teck, senior director of research at Huttons Asia, who adds that price increases in the HDB resale market has slowed slightly since 2H2022 due to price resistance from buyers and the increase in interest rates.

“The rising costs of borrowing have a negative impact on buyers’ budgets as buyers too are shuddering at the thought of paying cash more than the value given that economic conditions are becoming uncertain in the 2H2022 period.” Lee says. Lee.

In addition, the government stepped into the market with market intervention measures in order to slow the rise of HDB flat prices in the last year, in response to worries that the cost of the five and four-room flats were beginning to be beyond the reach of most buyers.

“The rise in the amount of HDB flats that were resold for more than $1 million by 2022, with 337 units, compared to 259 flats the year before and also played a role in creating concerns about the affordability of housing,” adds Wong.

The most recent property cooling measures announced on September 30 are aimed at private property buyers of large-sized HDB flats for resales. “The effect is felt instantly in the real world as a lot of private property owners were unable to obtain an exemption from HDB and have to end their purchases,” says Lee.

Recent resales data show that flats worth a million dollars which changed hands decreased from 111 in the 3Q2022 period to 93 in the 4Q2022. In total, the flats that sold for at least one Million dollars or greater, accounted of 1.3% of the total sales in FY2022.

Supply boosting

HDB also released more details regarding the build-to-order (BTO) flats in 2023. The following BTO sales exercise scheduled for next month will provide 4,400 flats and include the development of new properties within Jurong West, Kallang Whampoa, Queenstown and Tengah. In the following month, the June 2023 BTO sales exercise will provide between 3,800 and 4,800 flats across Bedok, Kallang and Whampoa, Queenstown, Serangoon and Tengah. The statutory board has stated that it is planning to offer 23,000 BTO flats in the coming year. It will continue to track the housing market and adjust if needed.

“The Government’s message is they are determined to expand availability of BTO flats in order to meet the housing requirements of Singaporeans. In the context of the text it is also a sign that the government will do everything it can to curb the price of HDB resales. HDB price for resales.” claims Nicholas Mak, head of research and consulting for ERA Realty.

The most important factor that will encourage buyers to go back to BTO flats is the government’s ability to shorten the time to complete the upcoming BTO developments, according to Mak.

The research conducted by Huttons Asia shows that the number of two-room or more expansive flats that had reached their 5-year MOP (minimum occupancy time) for 2022 was 30199. However, it is expected to decrease by more than fifty% this year to 15,364 flats. This will “drastically decrease the amount of “newer” flats available for resales,” says Lee.

This is also a sign this means that HDB renting market likely to remain favorable to landlords due to the low number of rentable flats that are available Mak. Mak.

‘Healthy’ resale performance

The resale rate for the HDB market through 2022 is considered healthy as per Christine Sun, senior vice director of research and analysis for OrangeTee & Tie. The secondary market has achieved a solid performance despite prices falling in certain towns, which have reached record levels, and sellers are facing intense competition from the bumper collection of BTO launches, she adds.

Additionally that many homeowners resisted from putting their homes available for sale in the during the quarter, relying on an ‘attend-and-see’ strategy Mohan Sandrasegeran, senior analyst for content and research for One Global Group.

“It is probable that there are some (sellers) might have decided to wait for the market conditions to improve or see the effect of the most recent cooling measures that are in effect or to be reviewed prior to placing their homes for auction,” says Sandrasegeran.

He also says that over 100,000 people applied for 23,000 BTO flats which were announced in the year before. While the government has indicated that it will increase the availability of BTO over the next couple of years, the demand for BTO supply is often much higher than supply, says Sandrasegeran.

PropNex expects HDB prices decrease further in 2018 to an average of% or 8% due to the high-interest rates, resistance to price by buyers property cool measures and bleak economic outlook. “Meanwhile the the demand for HDB flats for resales is anticipated to be stable through 2023. We anticipate that between 27,000 and 28,000 flats may be resold in the coming year, roughly similar to 2022.” Wong says. Wong.

Read more: Relaunched for sale at $85 million: the GSM Building

Relaunched for sale at $85 million the GSM Building

Industrial rents increased in 2.1% q-o-q in 4Q2022 and remained at the same rate of growth recorded in during the previous quarter, according to the data published by JTC on the 26th of January. This is the 9th consecutive quarter of growth, which brings the total rental increase at 6.9% for 2022, surpassing the 2% increase recorded in 2021.

Prices for industrial properties have increased in 1.7% q-o-q in 4Q2022 which brought the full-year rate of growth at 7.5%. “This is the highest pace of price growth, both in terms of as well as rents since 2012,” says Lee Sze Teck, senior director of studies for Huttons Asia.

The overall occupancy rate for industrial properties decreased to 0.3 percentage points during 4Q2022 in the 4Q2022 period to 89.4%. The drop was driven by an impressive increase in new building completions, which saw 5.2 million square feet of industrial space being completed in 4Q2022 – – the highest since the year 2017. The increase in supply was greater than the demand, which stood at 2.9 million square feet in 4Q2022, which is based on the amount of stock that was occupied.

Multi-user factories experienced the greatest rent increases in the 4Q2022, with increases by 2.6% q-o-q. Tricia Song, the head of research Southeast Asia at CBRE believes the rise may be due to the higher rents that were realised at recently completed projects , such as INSPACE located at Industrial Road and 165 Kallang Way. “While the overall occupancy rates for multi-user facilities have decreased by 0.1 percentage point between q-o-q as well as 1.1 percentage points over the course of the 4Q2022 period, CBRE Research believes that there’s a trend towards higher quality, as the demand for more modern and better-quality factories, particularly high-tech industrial spaces has been steady and they command higher rents,” she adds.

For the entire 2022 Multi-user factories experienced rent increase by 8.3%, the highest in all industrial sectors and exceeding that of 2.5% growth registered in 2021. “We believe that this is driven predominantly by the shortage of space for high-quality and highly-specified spaces for industrial use,” notes Tay Huey Yun, the head of research and consultancy Singapore for JLL. Tay observes that the net absorption of multi-factory spaces in 2022 will be the highest to this point.

Warehouse rents rose in 2.2% q-o-q in 4Q2022 which was a significant increase from the 1.9% growth registered in 3Q2022. Warehouse occupancy improved by 0.9% q-o-q to reach 91.7% in 4Q2022, which CBRE’s Song notes as the highest since 3Q2015. The full-year growth in warehouse rental came as 7.9%, compared to 2.7% in 2021, CBRE’s Song is attributed to the steady demand, as companies continued the “just-in-case” inventory plans due to the ongoing conflict between Russia and Ukraine as well as the tight supply of new inventory.

Lam Chern Woon, head of research and consulting at Edmund Tie, points out that warehouses were the only segment to show an increase in occupancy during 4Q2022. “Despite some warehouse completions in the period, overall stock in warehouses fell by 9,000 sqm. This is probably because of the elimination of some stocks to make room for the needs of modern logistics,” he expands.

Single-user factory rental were up 1.3% q-o-q, while business park rents increased to 1.0% q-o-q in 4Q2022. Brenda Ong, executive director for industrial and logistics for Cushman & Wakefield, adds that the business park sector is still a two-tiered market in which rents and demand are significantly higher for business parks in the city fringe when compared to adjacent counterparts.

In the future Edmund Tie’s Lam anticipates slower growth in rental in 2023, due to the external environment becomes more challenging. “Industrialists are likely to be cautious while leasing demand in outward-oriented industries like manufacturing and electronics are likely to decrease as a result of the downturn in semiconductors globally,” he explains.

Additionally, the influx of supply could limit the growth in rental. Around 18.9 million square feet of new production is anticipated to be in operation by 2023 this Huttons’ Lee highlights is the biggest amount since the year 2017. About half of the latest constructions are single-user factories and new warehouses will make up 5.3 million square feet.

Leonard Tay, head of research at Knight Frank Singapore, believes that industrial rents will keep increasing in 2023, but at a slow rate. “Despite the coming shortage of industrial resources amid a decline in exports and declining manufacturing confidence, Singapore will continue to draw fixed asset investments into the manufacturing industry as multinational companies search for countries that have stability with a well-educated workforce as well as modern infrastructure in their flight-to-stability strategy,” he opines.

He predicts that industrial rental growth by 1% up to% for the entire period of 2023. He also says that in the logistics sector in which space is scarce renting for warehouses with high-quality space could rise up to three% or 5%.

Cushman and Wakefield’s Ong is in agreement. She predicts rent growth and industrial prices to slow to around 1% up to% by 2023. Meanwhile, warehouse rents may still be higher than due to the robust demand.

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M&G Real Estate Asia is part of the company’s private assets and alternative business is now the majority shareholder in ESR Ichikawa Distribution Centre, an logistics facility located located in Tokyo, Japan. In a press announcement, M&G announced that through its M&G Asia core property strategy it has completed the 267 million ($353 million) acquisition that has increased it’s stake in this distribution center to 25% to 58.3%% up to 58.3%.

The property is a four-story facility that is located within Ichikawa City in the Greater Tokyo Bay Area. It has a rentable space of 201,111 square meters (2.16 million square feet) which is completely let out. The building is certified with an CASBEE S rating, the highest rating in the Comprehensive Assessment System for Built Environment Efficiency (CASBEE) green building certification program , which is in use in Japan.

“Acquiring the majority stake for an attractive yield on going-in is a significant achievement that is significant for M&G as we redouble our efforts on our faith and commitment to Japan’s logistic sector which we believe will be a key component of the economy of Japan since the demand for top quality assets continues to be strong,” comments Richard van den Berg who is the M&G’s fund manager for its Asia primary property.

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Locally, the property market was abuzz after there was a buzz when the Chinese government announced that it would end its strict travel restrictions to international destinations and quarantine regulations related to pandemics from January 8. It is expected to expect that Chinese property customers will be returning to Singapore in large numbers to invest in real estate. But, a study by real estate company Huttons Asia shows that the rise in Chinese property investors may be less gradual than initially believed.

Since the reopening of borders and lifting the quarantine restrictions that were in place in China travel agents and hotels have seen an increase in inquiries from Chinese travellers. International travel is expected to increase in the coming Lunar New Year festive period that officially begins on January 22. Some of the most sought-after destinations within Asia Pacific include Asia Pacific region for Chinese travelers comprise Thailand, South Korea, Singapore, Malaysia and Australia.

However, Huttons Asia says the economic climate is becoming more challenging because the interest rates in the world continue to increase. Singapore’s headline inflation rate has risen by approximately 6.7% y-o-y as of November 2022. property prices have also increased in the range of 8.4% y-o-y for 2022 and the 3 month Sora price was 3.0019% as of Jan 9. Sora is the term used to describe it being the Singapore Overnight Rate Average, the benchmark rate for interest rates.

The purchasing mood for this year’s foreign buyers, which includes those coming from China is expected to remain cautious due to economic uncertainty and in the face of “prohibitive” 30% ABSD that will likely limit global demand for foreign purchases this year, says Huttons.

Data on transactions compiled by the company indicates that Chinese buyers are making residence property purchase in Singapore were at 1,637 in 2011. The figure dropped 62.2% y-o-y to 618 units sold in 2012 because the government imposed an additional stamp duty for buyers (ABSD) in the amount of% for international buyers, as part of property cooling measures that were introduced in December 2011 to ease the demand from foreign buyers. The subsequent property cooling measures increased overseas purchasers’ ABSD by fifteen percent in 2013% from 2013 up to 20% in the year 2018. In 2021 the ABSD was raised by 30%.

This stamp duty on transactions hasn’t stopped some rich Chinese customers from investing in high-end Singapore housing properties. As of the month June 20, EdgeProp Singaporereported that an unknown Chinese buyer had purchased 20 units in the brand-new luxurious condo Canninghill Piers at Clarke Quay. The total deal is over $85 million with an average of around $2,773 per square foot and the units comprise mostly three- and four-bedroom units spread across several stacks.

In all, 227 non-residential new sales and the resale of properties within Singapore were bought in 2022 by Chinese purchasers in the year 2022. “Singapore is known for being a safe haven… that is favored by investors. There is a keen interest among Chinese companies to establish businesses within Singapore,” says the Huttons report.

Based on a study of transaction information from Huttons The top three projects that are favored by foreign buyers 2022 include Canninghill Piers (51 units sold), Riviere at Jiak Kim Street (49 units sold) of transaction data by Huttons, the top three projects are Riviere at Jiak Kim the Avenir located at River Valley Close (42 units sold). The list also includes projects such as Perfect Ten at Bukit Timah Road Irwell Hill Residences located at Irwell Bank Road, One Pearl Bank at Pearl Bank Road and Pullman Residences Newton at Dunearn Road

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Investment sales dropped 10.8% q-o-q to $5 billion in 4Q2022, owing to borrowing costs and uncertainty in macroeconomics slowed business, according to research conducted by Colliers. However, the firm says that the total amount of investments in 2022 was $29.1 billion, which represents an 2.8% increase y-o-y, which was boosted by an active beginning in the calendar year.

Despite the slowdown in 4Q2022, this quarter saw several large transactions happen. This includes the sale of Jurong Point and Swing By @Thomson Plaza by Mercatus Co-operative for $2.161 billion as well as the sale of 50% part of Lazada One by ARA Asset Management for $361.49 million in addition to a number of private residential land sales.

The divestment undertaken by Mercatus helped boost commercial sales during 4Q2022 as the segment recorded the 87.7% q-o-q surge to $2.8 billion. The full year commercial sales rose 78.7% y-o-y to $11.4 billion.

Residential sales fell 51.7% q-o-q to $1.3 billion, aided by a decrease in the collective sales process and the luxury sales, according to Colliers. In 2022 as a whole the sales of residential properties fell 18.1% y-o-y to $10.5 billion.

In contrast, industrial sales fell 39.7% q-o-q to around $400 million. The consulting firm attributes to a number of significant deals that are still awaiting JTC approval. The full year’s industrial sales declined 59.7% y-o-y.

Colliers expects the market for investment to be in price discovery mode for the first quarter of the year as investors adapt to the new norm of lower rates of interest and slow growth. The company is predicting that investments sales to reach about $25 billion by 2023, which represents a drop of 15% per year. It also expects transactions to be “bite-sized” due to larger deals usually require more time and more leverage.

The consultancy believes an increase in activity as likely to be seen in the second half of 2023 when the trajectory of interest rates and inflation become more clear. “Despite the fact that yield spreads are narrowing for those who want to invest in high-quality fundamental properties, Singapore properties still offer long-term capital appreciation and decent returns on all investments,” remarks Tang Wei Leng who is the chief executive officer and director of capital markets and investment services at Singapore in Colliers.

Tang says private wealth investors could become more prominent on the market in the coming year, due to tighter financing requirements as well as other macroeconomic headwinds force institution investors to be forced to step down or take a position. She predicts that private wealth capital to concentrate on the residential market for luxury as well as strata-titled commercial spaces and shophouses.

In the meantime, Catherine He, Colliers director and head of research in Singapore says that prime office and prime logistics capital value will be supported by positive growth in rental and abundant liquidity. Additionally the prime value of retail assets is likely to increase over the next few months. “As as a result the net yields are likely to stay relatively steady until sales pick up during the latter half of 2023.” she adds.