SC Capital staying clear of Singapore home market until prices drop 30%
Founder says intensity and severity of government cooling measures "caught us by surprise"
Singapore
SC CAPITAL Partners, which booked a loss from the sale of Singapore apartments to Blackstone Group LP in January, said that prices in the city-state need to drop another 30 per cent.
Suchad Chiaranussatti, founder of the Asian property fund, said that he won't be re-entering the Singapore residential market until he sees a further decline in prices. Prices need to drop by about 20 per cent to 30 per cent to make residential investments attractive again, he said in an interview.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%