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High interest rates, labour and energy costs to weigh on property firms’ earnings this year
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Rising interest rates have meant much higher debt financing costs for property developers.
PHOTO: ST FILE
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SINGAPORE - Although most Singapore-listed property developers reported stronger financial results and good dividend payouts in 2022, many are expecting costs to rise and high interest rates to persist amid grimmer business conditions in 2023.
Rising interest rates have meant much higher debt financing costs for property developers, which need to borrow heavily from the banks to finance new projects or renovate existing developments.
