How I will invest $100,000 in REITs in 2022 (as a Singapore Investor)
Remember when REITs used to be popular?
Yeah… this horse is old enough to remember that too.
REITs have traded sideways for a whole year, so...
Digital Core REIT soars 23% on IPO Day
For those who missed it, Digital Core REIT IPO-ed today.
Day one trading price performance was very strong:
Trading opened at US$1.01 (14.7% above IPO price)
Intraday...
Digital Core REIT IPO Balloting Results and Debrief – 50% chance of getting an...
Balloting results for Digital Core REIT IPO are out!
The full SGX announcement is here, but I’ll summarise quickly and share my takeaways.
Digital Core REIT...
Digital Core REIT IPO Review: Why I am subscribing for this 4.75% yield REIT
I usually try to wait until the final prospectus for an IPO is out before I write on it.
But then I saw rave reviews...
Daiwa House Logistics Trust Balloting Results – 50% chance of being Allocated
Balloting Results for Daiwa House Logistics Trust IPO are out!
The full details are here, but I’ll just summarise the key points quickly.
The public offer...
Temasek Bonds Balloting Results – Full Allocations for $13,000 and below
Temasek Bonds Balloting Results are out!
Full Announcement details are here, but I’ll summarise the key points in this article.
The Public Offer was $100 million...
Daiwa House Logistics Trust IPO Review: Will I subscribe for this 6.5% yielding REIT...
Life is funny sometimes.
We went 20 months without any IPOs on the SGX main board.
And then in the span of 1 week, we get...
Temasek Bonds IPO Review – Why I am skipping these 1.8% yielding T2026-S$ 5...
Temasek Bonds are back!
The last time we saw these Temasek bonds was back in 2018 with 2.7% yielding 5 years bond, and they sold...
新加坡商铺/写字楼市场前景 3 大要点—CICT（凯德综合商业信托）2021 年第三季度业务更新报告最新解读
看了凯德综合商业信托 2021年第三季度业务更新报告 - 有所启发！
其报告绝对是新加坡商业地产（包括商铺和写字楼）领域的信息宝库。
今日分享一下心得，希望对您有所帮助。
CICT（凯德综合商业信托）2021 年第三季度业务更新报告中的 3 大要点
我关注的是新加坡商业地产的总体趋势，而非仅仅聚焦于凯德综合商业信托。
我们从商铺业务说起。
新加坡商铺市场
续租租金变动率仍在下跌
商铺的续租租金变动率持续下滑。
对于不甚熟悉地产领域的读者，我需要解释下，续租租金变动率指的是下面两项租金之间的变动率：(1) 续租租金 (2) 已到期租约的租金。
因此，这说明商铺续租租金低于低于之前租约的租金。
有些细节颇为引人注意：
首年租金低于平均租金
这意味着，业主以此吸引租户签订租约。
他们可能第一年会收取较低的租金，然后逐年增加。
这对双方都有利，租户只需付较低的预付租金，有时间稳定业务。
而业主则保证了入住率（避免房产空置）以及未来的上升空间。
我唯一担心的是疫情形势有变。那样的话，租户核心业务还未改善，同时还要负担不断上涨的租金。
郊区续租租金变动率优于市区
郊区商场续租租金只比之前的平均租金低 0.9%。
而市区商场续租租金则较之前的租金低 8%。
不得不说，由于居家办公，郊区商场目前态势比市区商场要好得多。
不过我不希望这会永远持续下去，我们总有一天会回到办公室。
因此，如果留心，可以发现一些交易机会。卖出复苏交易的一些变量，即不做空数据中心房地产投资信托基金 (REIT)，而是做空郊区商场 REIT，做多市区商场 REIT。
租户销售额的复苏远强于客流回暖
租户销售额为 2019 年平均水平的 83%（下降 17%）。
而客流量则是 2019 年平均水平的 59%（下降 41%）。
我觉得这个数据很有意思——这表明消费者的购物效率越来越高。
如果消费者想购物，他们仍会选择商场（因此租户销售额复苏），但不会只为了闲逛而去商场。
至少在我看来是这样的。
你可以说，租户可能已经更好地适应了后疫情时代的消费现状，销售人们真正想买的商品。也存在这种可能性。
部分零售领域遭到重创
部分类别的租户业绩低迷。
跌幅最大的是零售店和娱乐业，分别下降了 9.6% 和...
ESR REIT Merger with ARA LOGOS Logistics Trust: Is this a bad deal for...
A couple of you have reached out to ask for my thoughts on the proposed merger between ESR REIT and ARA LOGOS Logistics Trust.
I...
3 Key Takeaways on Singapore’s Retail / Office Outlook – From CICT’s 3Q 2021...
So I was reading the CapitaLand Integrated Commercial Trust 3Q 2021 Business Update this morning.
And man, the slide deck was an absolute treasure trove...
5 Best Singapore REITs to buy now – 5% yield minimum! (Small – Mid...
REITs have fallen out of fashion recently.
Lots of interest over growth stocks, China stocks, Crypto, but very little for REITs.
I love REITs, and they...
Top 3 REITs to buy now for Singapore Investors (2021)
In Aug 2020, I wrote a post on the best 3 Singapore REITs to buy now.
8 months on, I checked back on the results:
Results were...
Astrea VI Balloting Results
Astrea VI Balloting Results are out!
Pretty good allocations across the board this time.
Anyone applying for $8000 and below gets what they applied for.
Anyone applying...
Astrea VI PE Bonds IPO Review – Will I subscribe for these 3% yielding...
Update: Balloting Results are out! View them here.
As you already know by now, the latest series in the Astrea bonds – Astrea VI, is...