Singapore Real Estate
Cut in land betterment charge rates for non-landed housing not expected to lift en bloc deals
For the first time in three years, the government has cut land betterment charge (LBC) rates for non-landed residential use. However, most market watchers do not expect this to provide a fillip to the residential collective sale market due to bigger hurdles at play.
https://www.businesstimes.com.sg/property/cut-land-betterment-charge-rates-non-landed-housing-not-expected-lift-en-bloc-deals
https://www.straitstimes.com/business/land-betterment-charge-rates-cut-3-on-average-for-non-landed-residential-use
https://www.edgeprop.sg/property-news/average-3-11-drop-land-betterment-charge-residential-non-landed-use
Buying a prime-location HDB flat means stepping off the property ladder, for better or worse
In 2015, it was reported that a four-room Pinnacle@Duxton Housing Development Board flat somewhere between the 34th and 36th floor was sold for S$900,000. The 95 square metre flat was purchased by a Singaporean couple for about S$340,000 when it was launched under the Build-To-Order (BTO) scheme in 2004.
https://www.businesstimes.com.sg/companies-markets/buying-prime-location-hdb-flat-means-stepping-property-ladder-better-or-worse
Views, Reviews Forum and Others
Explainer: What changes to the monthly CPF ceiling mean for you
Singapore — For some Singaporeans, their take-home pay might look slightly different this month. During Budget 2023, Deputy Prime Minister and Finance Minister Lawrence Wong announced that the monthly salary ceiling for the Central Provident Fund (CPF) will be raised in stages from S$6,000 to S$8,000 by 2026.
https://www.todayonline.com/singapore/explainer-what-changes-monthly-cpf-ceiling-mean-you-2243641
‘Full speed’ ahead for F1 Singapore Grand Prix despite CPIB probe
Singapore: It is “full speed” ahead for this month’s Formula 1 Singapore Grand Prix despite the Corrupt Practices Investigation Bureau (CPIB) probe involving Singapore GP chairman Ong Beng Seng…
https://www.channelnewsasia.com/sport/f1-singapore-grand-prix-cpib-probe-ong-beng-seng-iswaran-3743686
https://www.todayonline.com/singapore/singapore-f1-grand-prix-tickets-cpib-probe-2246166
https://www.businesstimes.com.sg/singapore/activities-make-singapore-f1-capacity-cuts-no-manpower-shortages-expected-tan-see-leng
Weak link in anti-money laundering efforts is compliance, not family offices: Experts
Singapore – Lawyers and tax consultants have urged banks to step up their compliance and monitoring processes in the light of the $1 billion money laundering case here, but to avoid the xenophobic trap of focusing only on Chinese customers.
https://www.straitstimes.com/singapore/weak-link-in-anti-money-laundering-efforts-is-compliance-not-family-offices-experts
Global Economy & Real Estate
Australian homes are least affordable in 30 years after hikes
https://www.businesstimes.com.sg/property/australian-homes-are-least-affordable-30-years-after-hikes
Tourists’ slow return to China post-Covid causing headaches for travel industry
https://www.scmp.com/news/china/diplomacy/article/3233200/tourists-slow-return-china-post-covid-causing-headaches-travel-industry
Country Garden: How bad are the Chinese property developer’s debt problems?
https://www.businesstimes.com.sg/property/country-garden-how-bad-are-chinese-property-developers-debt-problems
After Country Garden debt deal, focus shifts to China property recovery prospects
https://www.channelnewsasia.com/business/after-country-garden-debt-deal-focus-shifts-china-property-recovery-prospects-3744341
https://www.businesstimes.com.sg/property/after-country-garden-debt-deal-focus-shifts-china-property-recovery-prospects
https://www.straitstimes.com/business/after-country-garden-debt-deal-focus-shifts-to-china-property-recovery-prospects
Paid late, or never – painters, builders and brokers hit by China’s property crisis
https://www.businesstimes.com.sg/international/global/paid-late-or-never-painters-builders-and-brokers-hit-chinas-property-crisis
Tycoon Chen Hongtian’s seized US$86.7 million Frank Gehry-designed Hong Kong flat sells at 38% discount
https://www.scmp.com/business/article/3233078/tycoon-chen-hongtians-seized-us867-million-frank-gehry-designed-hong-kong-flat-sells-38-discount
Italy’s windfall tax on banks can be improved on, economy minister says
https://www.businesstimes.com.sg/international/italys-windfall-tax-banks-can-be-improved-economy-minister-says
Malaysia faces challenges as top Asean destination for data centre investments
https://www.businesstimes.com.sg/international/asean/malaysia-faces-challenges-top-asean-destination-data-centre-investments
Malaysia’s Forest City teeters over China property giant woes
https://www.businesstimes.com.sg/international/global/malaysias-forest-city-teeters-over-china-property-giant-woes
https://www.scmp.com/news/asia/southeast-asia/article/3233246/malaysias-country-garden-forest-city-us100-billion-ghost-town-caught-china-property-giants-woes
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