The coronavirus crisis has severely affected numerous sectors, from aviation, and tourism, to oil and gas even property. The World Bank noted in its recent ‘Global Economic Prospects’ report that the pandemic has caused the broadest collapse of the global economy since 1870.
Singapore property and bank stocks led declines on the benchmark stock index Friday after the government unexpectedly tightened property curbs to cool a market the central bank described as euphoric. City Developments Ltd. and UOL Group Ltd. fell more than 14 percent each.The index tracking property stocks dropped 1.4 percent on Friday in Singapore, set for the lowest close in more than 15 months.
According to Anthony Couse, Asia Pacific CEO of real estate and investment management firm, Jones Lane LaSalle (JLL), proptech refers to the utilisation of technology to create or renovate services offered in real estate to buy, sell, rent, develop, market, and manage property in a more efficient and effective way.
Hong Kong’s richest man signaled he sees no end in sight for the demand in property that’s been driving up prices in the world’s most expensive real estate market."Demand remains very strong," CK Hutchison Holdings Ltd.’s billionaire chairman Li Ka-shing said to reporters on Thursday before the start of the annual dinner for his group of companies.
Singapore’s home sales rose in November, extending gains for a year that is already the best since 2013, as developers marketed more projects.Developers sold 785 units last month, up from a revised 760 in October, according to Urban Redevelopment Authority data released Friday.
Singapore developers may extend their share rally into 2018 on a reviving home market, according to money managers and analysts, who say the central bank’s warning on a potential oversupply may not play out for years. After double-digit gains this year, Morgan Stanley sees a 42 percent jump in shares of CapitaLand Ltd., the nation’s largest developer, and a 24 percent increase in City Developments Ltd., the second-biggest, in the next 12 months.
Singapore home sales fell in September as developers marketed fewer projects in a month considered inauspicious by Chinese homebuyers.Developers sold 657 units last month, down from a revised 1,246 in August, according to Urban Redevelopment Authority data released Monday. That’s the lowest sales since January.
