Singapore Real Estate/Built Environment
Real estate players home in on student housing to cushion their portfolios
Property groups and asset managers are putting more money into student housing, a sector that is proving to be a solid defence against the diminishing returns and crumbling valuations elsewhere in their portfolios.
https://www.businesstimes.com.sg/property/real-estate-players-home-student-housing-cushion-their-portfolios
OK Lim’s Good Class Bungalow in Tanglin Hill goes on sale for S$43 million
Another Good Class Bungalow belonging to Hin Leong founder Lim Oon Kuin, better known as OK Lim, has been put up for sale by tender at a guide price of S$43 million.
https://www.businesstimes.com.sg/property/ok-lims-good-class-bungalow-tanglin-hill-goes-sale-s43-million
https://www.straitstimes.com/business/convicted-hin-leong-founder-ok-lim-puts-up-third-gcb-for-sale-for-43m
Over 8,500 flats set to be launched in October BTO exercise, about half may be Plus units: Analysts
Singapore: More than 8,500 flats are set to be launched in the Build-to-Order (BTO) exercise in October, with property analysts expecting nearly half to be under the new Plus category.
https://www.channelnewsasia.com/singapore/october-bto-exercise-bayshore-pasir-ris-hdb-plus-flats-analysts-4426681
HDB, condo rents soften in May as leasing volumes dip
Rents for Housing and Development Board (HDB) flats have fallen for the first time since January, as renters are looking towards the condo market, where rents continue to soften.
https://www.businesstimes.com.sg/property/hdb-condo-rents-soften-may-leasing-volumes-dip-srx-99-co
https://www.straitstimes.com/singapore/hdb-and-condo-rents-soften-in-may-as-leasing-volumes-dip
Views, Reviews, Forum and Others
URA to re-evaluate stance over Chinatown mural featuring smoking samsui woman after public feedback
Singapore: The Urban Redevelopment Authority (URA) is re-evaluating its position over a Chinatown shophouse mural depicting a young samsui woman smoking, due to recent public feedback.
https://www.channelnewsasia.com/singapore/south-bridge-road-chinatwon-shophouse-mural-ura-samsui-woman-smoking-erase-reevaluate-4428581
No cases of casinos in Singapore directly complicit in money laundering: Report
Singapore – Casinos everywhere tend to be awash with cash and so are prime venues for money laundering, but there is no evidence that the gambling facilities in Marina Bay Sands and Resorts World Sentosa have been involved in such activity.
https://www.straitstimes.com/business/no-cases-of-casinos-in-singapore-directly-complicit-in-money-laundering-report
No human cases of bird flu in Singapore but public urged to stay vigilant: MOH
Singapore – While there are no confirmed human cases of bird flu in Singapore and the risk of contracting it is low, the Republic needs to stay vigilant and safeguard against infections, the Ministry of Health (MOH) said.
https://www.straitstimes.com/singapore/no-human-cases-of-bird-flu-here-but-singapore-needs-to-be-vigilant-moh
Global Economy & Real Estate
Central banks could increase gold reserves further as shine of US dollar dims: analysts
https://www.businesstimes.com.sg/companies-markets/central-banks-could-increase-gold-reserves-further-shine-us-dollar-dims-analysts
How long will high US interest rates last? Bond markets say maybe forever
https://www.straitstimes.com/business/how-long-will-high-us-interest-rates-last-bond-markets-say-maybe-forever
US business activity inches up in June; price pressures abating
https://www.businesstimes.com.sg/international/us-business-activity-inches-june-price-pressures-abating
US existing home sales fall in May as prices hit record high, mortgage rates rise
https://www.businesstimes.com.sg/property/us-existing-home-sales-fall-may-prices-hit-record-high-mortgage-rates-rise
The US housing market is weird and ugly
https://www.businesstimes.com.sg/property/us-housing-market-weird-and-ugly
Oil prices ease on strong dollar and mixed global economic news
https://www.straitstimes.com/business/companies-markets/oil-prices-ease-on-strong-dollar-mixed-global-economic-news
https://www.channelnewsasia.com/business/oil-prices-set-second-week-gains-signs-demand-improving-4425871
China, Australia to issue five-year visas to citizens for tourism, business
https://www.businesstimes.com.sg/international/china-australia-issue-five-year-visas-citizens-tourism-business
Mainland Chinese retailers struggle to survive Hong Kong’s sky-high rents, competition
https://www.scmp.com/business/china-business/article/3267728/mainland-retailers-struggle-survive-hong-kongs-sky-high-rents-fierce-competition?module=top_story&pgtype=subsection
China’s property sales outlook worse than ratings firms expect
https://www.businesstimes.com.sg/property/chinas-property-sales-outlook-worse-ratings-firms-expect
China aims to solve property puzzle with affordable housing push, but debt cloud remains
https://www.scmp.com/economy/china-economy/article/3267550/china-aims-solve-property-puzzle-affordable-housing-push-debt-cloud-remains
Chinese developers face make-or-break week in liquidation cases
https://www.businesstimes.com.sg/property/chinese-developers-face-make-or-break-week-liquidation-cases
https://www.straitstimes.com/business/four-chinese-developers-face-make-or-break-week-in-liquidation-cases
Dubai real estate’s resilience may signal end of boom-bust cycle
https://www.businesstimes.com.sg/property/dubai-real-estates-resilience-may-signal-end-boom-bust-cycle
Eurozone business recovery slows sharply in June, PMI shows
https://www.businesstimes.com.sg/international/eurozone-business-recovery-slows-sharply-june-pmi-shows
Upturn in German business activity slows in June, PMI shows
https://www.businesstimes.com.sg/international/upturn-german-buiness-activity-slows-june-pmi-shows
EU tariffs on China not a ‘punishment’, says German economy minister
https://www.businesstimes.com.sg/international/eu-tariffs-china-not-punishment-says-german-economy-minister
https://www.channelnewsasia.com/world/german-ministers-visit-chance-defuse-trade-tensions-china-state-media-say-4426061
German residential property prices keep falling in Q1
https://www.businesstimes.com.sg/property/german-residential-property-prices-keep-falling-q1
Elite Hong Kong club crashes market for HK$2 million memberships
https://www.businesstimes.com.sg/international/elite-hong-kong-club-crashes-market-hk2-million-memberships
Hong Kong bankruptcies hit 2-year monthly high with more than 870 filings in May
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3267597/hong-kong-bankruptcies-spike-2-year-high-may-more-870-filings?module=top_story&pgtype=subsection
Hong Kong eyeing Southeast Asia and Europe to diversify talent pool: labour chief
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3267665/hong-kong-eyeing-southeast-asia-and-europe-diversify-talent-pool-labour-chief?module=top_story&pgtype=subsection
80% of submissions on Hong Kong’s San Tin Technopole oppose plan amid environmental worries
https://www.scmp.com/news/hong-kong/health-environment/article/3267652/80-submissions-hong-kongs-san-tin-technopole-oppose-plan-amid-environmental-worries
Hong Kong housing rents reach pre-pandemic levels on mainland demand
https://www.straitstimes.com/business/hong-kong-housing-rents-reach-pre-pandemic-levels-on-mainland-demand
Discounts drive new home sales at SHKP’s Novo Land in Tuen Mun as buyer sentiment improves
https://www.scmp.com/property/article/3267655/discounts-drive-new-home-sales-shkps-novo-land-tuen-mun-buyer-sentiment-improves?module=top_story&pgtype=subsection
Actress Ada Choi, other cash-rich buyers are splurging on Hong Kong’s property. Here’s why
https://www.scmp.com/property/article/3267604/cash-rich-hong-kong-buyers-invest-luxury-properties-following-end-cooling-curbs?module=top_story&pgtype=subsection
Indonesia uses cloud seeding as rain hampers new city’s construction
https://www.businesstimes.com.sg/international/asean/indonesia-uses-cloud-seeding-rain-hampers-new-citys-construction
Japan vows to bring primary budget to surplus next fiscal year
https://www.businesstimes.com.sg/international/japan-vows-bring-primary-budget-surplus-next-fiscal-year
BOJ deputy governor Uchida signals readiness to raise rates further
https://www.channelnewsasia.com/business/boj-deputy-governor-uchida-signals-readiness-raise-rates-further-4426406
Japan PM extends fuel subsidy, temporary support for household utility bills
https://www.businesstimes.com.sg/international/japan-pm-extends-fuel-subsidy-temporary-support-household-utility-bills
https://www.channelnewsasia.com/business/japan-pm-extends-fuel-subsidy-temporary-support-household-utility-bills-4426241
Malaysia’s Johor starts coastal clean-up following reported spread from Singapore oil spill
https://www.channelnewsasia.com/asia/malaysia-johor-pollution-singapore-oil-spill-4426236
South Korea’s early trade data show export momentum softening in June
https://www.straitstimes.com/business/south-korea-s-early-trade-data-show-export-momentum-softening-in-june
Thai exports rise for second month in May, beat forecast
https://www.businesstimes.com.sg/international/thai-exports-rise-second-month-may-beat-forecast
Thailand approves VAT on cheap imported goods, official says
https://www.businesstimes.com.sg/international/thailand-approves-vat-cheap-imported-goods-official-says
UK retail sales rebound in May but shoppers still cautious
https://www.businesstimes.com.sg/international/uk-retail-sales-rebound-may-shoppers-still-cautious
UK’s Manchester Airport cancels flights from two terminals after power cut
https://www.businesstimes.com.sg/international/uks-manchester-airport-cancels-flights-two-terminals-after-power-cut
https://www.channelnewsasia.com/world/uk-manchester-airport-widespread-disruption-power-cut-4430201
Vietnam central bank says 2024 GDP growth seen meeting 6%-6.5% target
https://www.businesstimes.com.sg/international/asean/vietnam-central-bank-says-2024-gdp-growth-seen-meeting-6-6-5-target
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