SG Morning Highlights | Elite UK Reit Sells Hilden House for £3.3 Million, Above Valuation

Advancers / Decliners is 66 / 102, with 158.35M securities worth S$353.21M changing hands.

Huttons reports a predicted recovery in HDB rental demand in the second half of 2024, driven by increased HDB launches and high take-up rates, with upgraders temporarily renting to avoid the Additional Buyer's Stamp Duty. This demand surge contrasts with a moderated growth rate of 1.4% year-on-year in early 2024 as tenants shifted to condos amidst a lower flat supply. Despite a projected 4% rent increase in 2024, 2025 looks less promising with a forecasted drop in available HDB flats for subletting to around 7,000 units, and a decrease in private residential completions, which may reduce the tenant pool, although over 6,500 new launches in RCR and OCR could temporarily boost demand.

Singapore mobile gaming marketers are allocating just 20% of their user acquisition budgets to the Asia Pacific region, focusing more heavily on North America (37%) and Europe (28%), according to Moloco. This pattern is part of a broader global trend where 71% of mobile gaming ad spend is concentrated in a few countries, including the U.S. (40%), U.K. (6%), Germany (5%), and Japan (4%). However, Singapore marketers are beginning to diversify, with 15% of budgets now directed towards emerging markets in Latin America, North Africa, and Sub-Saharan Africa. In contrast, China's marketers are leading in global diversification, spreading their investments more evenly across various regions, including Europe and Asia Pacific.