Latest Singapore Savings Bonds Allotment – Up to $14,500 per person! Why is interest...
So the latest allotment results for the December Singapore Savings Bonds are out!
Each person who applied can get up to $14,500.
This is a pretty...
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...
Why I bought Lendlease Global Commercial REIT
Okay first off - I had a full macro article planned for this week. A lot of you have been asking whether it is...
12 month T-Bills issued at 3.87% yield – Interest rates keep going down (26...
So the latest 12 month T-Bill auction results are out.
In the weekend article I predicted an indicative range of 3.9% - 4.1%, but I...
Frasers Hospitality Trust plunges 25% after Privatization rejected – Will I buy this REIT...
Earlier this year – Frasers announced that they were going to privatise Frasers Hospitality Trust at $0.70.
Back then, I thought the timing was very...
Best Fixed Deposit Rates yield 2.85%– Better than Singapore Savings Bonds for your cash?...
I was looking at the latest Fixed Deposit Rates recently.
And they are frankly quite attractive with rates of up to 2.85%.
Remember, with fixed deposit...
The Weekly Horse: Responding to Criticism on Temasek’s Astrea IV Bonds
Criticism on the Astrea IV Bonds
Given the massive debate over Temasek's 4.35% p.a. Astrea IV Class A-1 Secured Bonds that is raging on this...
Prime REIT IPO Review: Is it a good time to be buying REITs?
In my article last week on the Top 5 High Yielding REITs to buy right now, I listed Prime REIT as one of the...
T-Bills at 3.77% yield – Must buy with CPF money? … Better than Singapore...
The latest T-Bills yield 3.77%.
While CPF-OA yields 2.5% (after the first $20,000).
T-Bills are backed by the Singapore government.
So ... Should one buy T-Bills with...
6-month T-Bills Auction on 26 Oct – Will interest rates cross 4.0% again? What...
So… the next T-Bills auction is on 26 Oct (Thursday).
As you would recall – 2 auctions ago T-Bills went as high as 4.07%.
Then after...
Are Singapore REITs Overvalued right now?
So remember how I wrote an article last week saying that Singapore REITs are pretty overvalued right now? Well, since then, REITs have absolutely...
6-month T-Bills Auction on 14 March – Will interest rates cross 4.0% or fall...
So the next 6-month T-Bills auction is on 14 Feb.
After closing as high as 4.07% only a few months ago.
T-Bills yields have since plunged...
Singapore Savings Bonds at 3% yield – Why I am buying
If you haven’t been keeping track of interest rates for a while, you’ll be pretty amazed by the yield on Singapore Savings Bonds these...
Will T-Bills yields stay above 3.0%? Are T-Bills still a good buy today?
Quite a few of you have asked me to continue the T-Bills series of articles, especially with T-Bills yields stabilising around the 3.0% mark.
So that’s exactly...
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...