Singapore Real Estate
The housing market will continue to stabilise in the coming year with ‘significant’ supply of new homes: Desmond Lee
The housing market is expected to continue to stabilise in the coming year with a “significant” supply of new homes coming on stream, says Minister for National Development Desmond Lee. Lee is also the Minister-in-Charge of Social Services Integration.
https://www.theedgesingapore.com/news/property/housing-market-will-continue-stabilise-coming-year-significant-supply-new-homes
A week of expert views on Singapore’s property markets
How should we make sense of market cooling measures? What does “sustainability” mean for the housing market, and for whom? Which sectors in Singapore property – residential, commercial, or industrial – offer the best prospects? Where is global capital going?
https://www.businesstimes.com.sg/property/week-expert-views-singapores-property-markets
HDB, condo rents fall in January, volumes rise
Both private and public housing rentals continued their decline in the first month of the year with Housing and Development Board (HDB) and condominium rental prices each posting a 0.7 per cent decrease from December 2023 levels.
https://www.businesstimes.com.sg/property/hdb-condo-rents-fall-january-volumes-rise-srx-99co
https://www.straitstimes.com/singapore/housing/condo-hdb-rents-dip-in-january-leasing-volumes-climb
Eight-storey hotel in Geylang up for sale at S$120 million guide price
An eight-storey hotel at 12 Lorong 12 Geylang has been put on the market via expression of interest for S$120 million, exclusive marketing agent CBRE said on Tuesday (Feb 20). The guide price translates to around S$2,758 per square foot based on a gross floor area of 43,500 square feet (sq ft).
https://www.businesstimes.com.sg/property/eight-storey-hotel-geylang-sale-s120-million-guide-price
Singapore Economy
STB gave grant for Taylor Swift concerts, event likely to generate major benefits for S’pore economy: Govt
Singapore – The upcoming Taylor Swift concerts in Singapore, which are likely to generate significant benefits for the economy, got the support of the authorities in the form of a grant. In response to queries from The Straits Times, the Singapore Tourism Board (STB) and the Ministry of Culture, Community and Youth (MCCY) said in a joint statement that tourism sectors such as hospitality, retail, travel and dining are likely to benefit from the event, just like they have in other cities the pop star has performed in.
https://www.straitstimes.com/singapore/stb-gave-grant-for-taylor-swift-concerts-event-likely-to-generate-major-benefits-for-s-pore-economy-govt
https://www.todayonline.com/singapore/stb-gave-grant-taylor-swifts-singapore-concerts-other-government-bodies-worked-directly-promoter-aeg-2366401
https://www.channelnewsasia.com/singapore/taylor-swift-singapore-concerts-deal-stb-grant-4135721
https://www.scmp.com/news/asia/southeast-asia/article/3252610/singapore-eyes-significant-economic-benefits-it-lures-taylor-swift-grant-sold-out-concerts
Some firms concerned about higher business costs when updated local qualifying salary scheme kicks in
Singapore: Some employers have raised concerns over the upcoming increase in the local qualifying salary (LQS), noting that it could add to rising business costs. The move may also impact the working hours for many part-timers, according to industry watchers.
https://www.channelnewsasia.com/singapore/some-firms-concerned-about-higher-business-costs-when-updated-local-qualifying-salary-scheme-kicks-4135986
Global Economy & Real Estate
Australia annual wage growth hits 15-year high in Q4
https://www.businesstimes.com.sg/international/australia-annual-wage-growth-hits-15-year-high-q4
Canada’s slowing inflation rate bolsters bets on early rate cut
https://www.businesstimes.com.sg/international/canadas-slowing-inflation-rate-bolsters-bets-early-rate-cut
China cuts mortgage reference rate more than expected to revive property market
https://www.businesstimes.com.sg/property/china-cuts-mortgage-reference-rate-more-expected-revive-property-market
https://www.straitstimes.com/business/china-cuts-mortgage-reference-rate-more-than-expected-to-revive-property-market
https://www.channelnewsasia.com/business/china-cuts-mortgage-reference-rate-more-expected-revive-property-market-4135301
https://www.scmp.com/economy/economic-indicators/article/3252499/china-cuts-key-mortgage-rate-first-time-june-prop-economy
Chinese tourists flock to South-east Asia as overseas travel bounces back
https://www.businesstimes.com.sg/international/chinese-tourists-flock-south-east-asia-overseas-travel-bounces-back
https://www.channelnewsasia.com/asia/chinese-tourists-flock-southeast-asia-singapore-thailand-malaysia-travel-bounces-back-4135881
https://www.scmp.com/news/asia/southeast-asia/article/3252557/chinese-tourists-flock-singapore-malaysia-thailand-during-lunar-new-year-overseas-travel-bounces
Eurozone wage growth slowed in fourth quarter: ECB
https://www.businesstimes.com.sg/international/eurozone-wage-growth-slowed-fourth-quarter-ecb
Exclusive Taylor Swift deal? Hong Kong must be ‘relentless’ in luring music stars, John Lee says amid reports of Singapore concert arrangement
https://www.scmp.com/news/hong-kong/society/article/3252530/exclusive-taylor-swift-deal-hong-kong-must-be-relentless-luring-music-stars-john-lee-says-amid
2 die, 3 injured after scaffolding collapses at construction site on Hong Kong’s former airport runway
https://www.scmp.com/news/hong-kong/society/article/3252595/2-workers-killed-3-hurt-scaffolding-collapse-construction-site-hong-kongs-former-airport-runway
Japan’s exports grow more than expected but manufacturers’ mood sours
https://www.channelnewsasia.com/business/japans-exports-grow-more-expected-manufacturers-mood-sours-4137791
Malaysian govt study warns of ‘brain drain’, finds 3 in 4 M’sians living, working in S’pore skilled or semi-skilled
https://www.todayonline.com/singapore/malaysia-govt-study-brain-drain-3in4-malaysians-working-living-spore-skilled-semiskilled-2366291
House building slump could cost Sweden nearly US$100 billion by 2030
https://www.businesstimes.com.sg/property/house-building-slump-could-cost-sweden-nearly-us100-billion-2030
Swedish landlord Oscar Properties’ CEO, CFO suddenly depart
https://www.businesstimes.com.sg/property/swedish-landlord-oscar-properties-ceo-cfo-suddenly-depart
South Korea Feb 1-20 exports down 7.8% on year
https://www.channelnewsasia.com/business/south-korea-feb-1-20-exports-down-78-year-4137821
Thai PM seeks emergency rate cut, pressuring central bank
https://www.businesstimes.com.sg/international/thai-pm-seeks-emergency-rate-cut-pressuring-central-bank
https://www.straitstimes.com/business/banking/thai-central-bank-seen-defying-pressure-from-prime-minister-to-urgently-cut-rate
Rate cut bets not unreasonable but UK economy picking up, says BOE’s Bailey
https://www.businesstimes.com.sg/international/rate-cut-bets-not-unreasonable-uk-economy-picking-says-boes-bailey
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