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All is not lost....Housing sale slow down abit...dun be afraid, please buy more and more
- Thread starter k1976
- Start date
Bloomberg) — Singapore home sales posted the weakest January sales since 2009, adding to signs that the property boom is fading.
Developers sold 281 new private homes last month, according to figures released Thursday by the Urban Redevelopment Authority. While that was up from 135 in December, it was the slowest start since the global financial crisis deterred buyers 15 years ago.
The muted rebound from December is likely to fuel growing concern among developers about flagging demand. While Singapore has avoided downturns that afflicted other cities such as Hong Kong, sales have been on a downward trend since the government introduced measures to cool the market and rising interest rates began to bite.
Developers sold 281 new private homes last month, according to figures released Thursday by the Urban Redevelopment Authority. While that was up from 135 in December, it was the slowest start since the global financial crisis deterred buyers 15 years ago.
The muted rebound from December is likely to fuel growing concern among developers about flagging demand. While Singapore has avoided downturns that afflicted other cities such as Hong Kong, sales have been on a downward trend since the government introduced measures to cool the market and rising interest rates began to bite.
Buyers have turned more selective amid a myriad of new launch options,” wrote Tricia Song, CBRE Group Inc.’s head of research for Singapore and Southeast Asia in a note. She added that sales in February are likely to remain tepid as developers hold back on kicking off projects during the Lunar New Year period.
Singapore saw 6,421 new private residential units sold last year, the fewest since 2008, final revised URA figures show. Annual transaction volumes, existing homes included, reached the lowest level in seven years.
Developers are becoming cautious. A prime land parcel in the city center sold by the government attracted just one bid in January. The offer was recently rejected by authorities who said it was “too low.”
Singapore saw 6,421 new private residential units sold last year, the fewest since 2008, final revised URA figures show. Annual transaction volumes, existing homes included, reached the lowest level in seven years.
Developers are becoming cautious. A prime land parcel in the city center sold by the government attracted just one bid in January. The offer was recently rejected by authorities who said it was “too low.”
US Office CRE Mess Is Spread Far and Wide across Investors & Banks Globally. US Banks Eat only a Portion of the Losses
by Wolf Richter • Feb 5, 2024 • 93 Comments
Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks.
By Wolf Richter for WOLF STREET.
What’s amazing about the mess of the office sector of commercial real estate (CRE) is just how far and wide these mega-losses – by some estimates, they may ultimately amount to $1 trillion, or whatever – are spread in diced and sliced form globally. Which is a good thing for US banks.Some US banks have started to reveal the damage in bits and pieces and warn about office CRE loans. But foreign banks are also up to their ears in this stuff – Canadian banks, Japanese banks, European banks…. And some warnings have emerged. But a big portion of the office CRE loans are held by investors, not banks, and they have gotten the short end of the stick.
We have discussed this phenomenon here for a year – how the biggest office CRE losses haven’t hit the US banks as much, but have hit investors in Collateralized Loan Obligations (CLOs) and Commercial Mortgage-Backed Securities (CMBS) which are held in big baskets of relatively small slices by institutional investors, such as bond funds, pension funds, insurance companies not just in the US but around the world.
And losses have hit publicly traded and private property REITs and mortgage REITs whose investors span the globe; they’ve hit PE firms and hedge funds and other nonbank entities whose investors span the globe – to the point that we espoused the theory that US banks had been able to sell their riskiest worst office property debt, back during the “office shortage” when times were good and money was free, by securitizing it or selling it outright to institutional investors around the globe.
NATIONAL BUSINESS
FILE - A sushi chef prepares a plate at the Toyosu Market Monday, Jan. 29, 2024, in Tokyo. Japan has slipped to the world’s fourth-largest economy as government data released Thursday, Feb. 14, 2024, showed it fell behind the size of Germany’s in 2023. (AP Photo/Eugene Hoshiko, File)
(Eugene Hoshiko / Associated Press)
BY YURI KAGEYAMA
ASSOCIATED PRESS
FEB. 15, 2024 12:55 AM PT
TOKYO —
Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany.
The government reported the economy shrank at an annual rate of 0.4% in October to December, according to Cabinet Office data on real GDP released Thursday, though it grew 1.9% for all of 2023. It contracted 2.9% in July-September. Two straight quarters of contraction are considered an indicator an economy is in a technical recession.
Japan slips into a recession and loses its spot as the world’s third-largest economy
FILE - A sushi chef prepares a plate at the Toyosu Market Monday, Jan. 29, 2024, in Tokyo. Japan has slipped to the world’s fourth-largest economy as government data released Thursday, Feb. 14, 2024, showed it fell behind the size of Germany’s in 2023. (AP Photo/Eugene Hoshiko, File)
(Eugene Hoshiko / Associated Press)
BY YURI KAGEYAMA
ASSOCIATED PRESS
FEB. 15, 2024 12:55 AM PT
TOKYO —
Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany.
The government reported the economy shrank at an annual rate of 0.4% in October to December, according to Cabinet Office data on real GDP released Thursday, though it grew 1.9% for all of 2023. It contracted 2.9% in July-September. Two straight quarters of contraction are considered an indicator an economy is in a technical recession.
Japan’s economy was the second largest until 2010, when it was overtaken by China’s. Japan’s nominal GDP totaled $4.2 trillion last year, while Germany’s was $4.4 trillion, or $4.5 trillion, depending on the currency conversion.
A weaker Japanese yen was a key factor in the drop to fourth place, since comparisons of nominal GDP are in dollar terms. But Japan’s relative weakness also reflects a decline in its population and lagging productivity and competitiveness, economists say.
Real gross domestic product is a measure of the value of a nation’s products and services. The annual rate measures what would have happened if the quarterly rate lasted a year.
A weaker Japanese yen was a key factor in the drop to fourth place, since comparisons of nominal GDP are in dollar terms. But Japan’s relative weakness also reflects a decline in its population and lagging productivity and competitiveness, economists say.
Real gross domestic product is a measure of the value of a nation’s products and services. The annual rate measures what would have happened if the quarterly rate lasted a year.
70% dumb sinkies better wakeup
Tharman knows the China had a glass heart and he just lightly touch china govt has "Accountability" on their own. Hahahaha wtf .. indians will be indians.. smooth and silky and butter the Chinese/butt heart nicely.
I'm just glad that I'm not born and breed in a communist run society of China.
I'm just glad that I'm not born and breed in a communist run society of China.
Tharman is a WEF cocksucker, wickedness veiled in civility is his nature. Don't be distracted by the Tiongs.
And since ah nehs have a glib tongue, they make a better sales pitch for whatever snake oil they are intending to peddle.
Senior Minister Tharman joins the World Economic Forum Board of Trustees
MAY 22, 2019https://www.straitstimes.com/singap...ns-the-world-economic-forum-board-of-trustees
The 60% absd is scaring the shit out of ah Tiong with addition of more stringent checks on source of funds. But all these are temporary until lau lan Wong takes over. By then Fed will slash interest rate and absd will be halved.
Stocks are worse. Keppel Oak Pacific downed 40% in a day. FUCK ALL SINKI STOCKS ESPECIALLY SEATRIUM AND NOBLE
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