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...
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...
Keppel Infrastructure Trust pays a 7.5% dividend yield – Why I am buying this...
Okay first off – my apologies.
Quite a few of you have asked for my views on Keppel Infrastructure Trust back when they were doing...
Green SGS Bonds – Why I am skipping these 3.04% bonds for Singapore Savings...
A couple of you have reached out for my views on the latest Green SGS Bonds.
They’re quite an interesting investment product, so I wanted...
Lendlease REIT pays 8.5% dividend yield – Will I buy this REIT? (down 40%...
Okay so A LOT of you have asked for my views on Lendlease REIT.
I did an article for Patreons a couple of weeks back.
But...
6-month T-Bills yields drop further to 3.65% – Demand for T-Bills falls from record...
In my weekend article, I estimated a yield of 3.60% - 3.75% for the upcoming 6-month T-Bills auction.
The auction results are out at 3.65%...
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...
July Singapore Savings Bonds Allotment – Only $9,000 per person!
So the allotment results for the July 2022 Singapore Savings Bonds are out.
And I mean… we all knew that these Singapore Savings Bonds would...
Have REIT prices bottomed for 2023 / 2024? Would I buy or sell REITs...
As you may have noticed, there was a huge jump in REIT prices this week.
Many of you have reached out to ask whether REIT...
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...
T-Bills auction on 17 Aug – Estimated yield of 3.75%? Good buy for CPF-OA...
The next 6 months T-Bills auction is on 17 August 2023 (Thursday).
With the drop in yields for the previous round of T-Bills (down to...
Latest T-Bills issued at 3.98% yield – Interest Rates are going back up! Better...
So the latest T-Bills auction results are out!
And interest rates are going up again.
Cut off yield is 3.98% (vs 3.93% the previous auction).
In my...
How I will invest $1 million in REITs at 6.0% dividend (as a Singapore...
For dividend investors, 2022 has been like Christmas come early.
Singapore Savings Bonds paying higher than CPF (2.71%).
Astrea 7 Bonds at 6% yield.
And solid, blue-chip...
6-month T-Bills Auction on 4 Jan – Will interest rates cross 4.0% or drop...
So the next T-Bills auction is on 4 Jan.
Unfortunately, after closing as high as 4.07% two months ago.
T-Bills yields have since dropped to 3.73%.
US...
Temasek’s 4.35% p.a. Astrea Bonds: A free lunch in investing?
Unless you've been living under a rock the past week, you've probably heard of Temasek's 4.35% p.a. Astrea IV Class A-1 Secured Bonds. In...