Property: Foreigners and PRs accounted for 23% of 7,888 private home transactions in 3Q. Chinese buyers formed 20% of the grp, on par with Indonesians, up from 17% in prev 2Q. DTZ expects increased Chinese property ownerships due to curbs in China and HK such as higher i/r, larger down payments...
Tender for Tampines EC won by JV of Hoi Hup Sunway & SC Wong with top bid of $188m ($302psf GFA.) Breakeven cost est at 580-630psf implying gross margins of 10-17% based on SimLian’s strong Waterview launch at $840psf. Top bid surpasses estimates of $220-280psf…
Demand appears resilent despite measures by Sg govt, Oct CPI up 3.5% partly due to housing, analysts expect that further measures will not be as harsh as HK’s recent measures. Houses DBS, BNP highlight policy risks and expect residential prices to fall in near term.
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