Blackstone bets on S'pore luxury property market
It believes success of govt measures to cool real estate market means curbs are set to be lifted
Singapore
BLACKSTONE Group LP's Stephen Schwarzman, who correctly bet on a US housing recovery, is now making a similar wager on Singapore's luxury property market.
Singapore's success in using administrative measures to cool its real estate market - luxury prices have fallen about 20 per cent in the past two years while Hong Kong's have kept rising - means the restrictions are likely to get lifted, the Blackstone chairman said last week. His firm has been investing in high-end developments over the past four months.
Property has become Blackstone's biggest profit driver as record-low interest rates and a US econom…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
DBS puts 46 HDB shops, private strata retail units on market for S$210 million
US mortgage rates jump above 7% for the first time this year
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases