DAILY NEWS

Daily News – 11th Mar 2020 (Wed)

Singapore Real Estate

Singapore’s condo resale prices and sales drop in Feb
Resale prices and sales of non-landed private homes in Singapore were hit last month from what one market observer called a “triple whammy” of the novel coronavirus, the Chinese New Year seasonal slowdown and supply of new units from recent launches.
https://www.businesstimes.com.sg/real-estate/singapores-condo-resale-prices-and-sales-drop-in-feb
https://www.straitstimes.com/business/property/condo-resale-prices-volume-fall-in-feb

Joo Chiat’s JK Centre up for sale at indicative price of S$34m
A corner commercial development located at Joo Chiat Road and Koon Seng Road is up for sale via tender at an indicative price of S$34 million. This translates to S$1,627 per square foot (sq ft) on an estimated gross floor area of 20,895 sq ft, exclusive marketing agent JLL said on Tuesday.
https://www.businesstimes.com.sg/real-estate/joo-chiats-jk-centre-up-for-sale-at-indicative-price-of-s34m

Purchases of adjoining units keeping luxe condo market abuzz
While well-heeled mainland Chinese who flocked to Singapore last year to buy luxe condo units have been kept away by the Covid-19 outbreak, several big-ticket deals were sealed in the first two months of this year. These recent purchases were made by buyers already based here.
https://www.businesstimes.com.sg/real-estate/purchases-of-adjoining-units-keeping-luxe-condo-market-abuzz

Singapore 2020 property auction listings may rise 10%
Singapore property auction listings could rise by 10 per cent in 2020 as more properties are put up for sale amid an uncertain environment, Colliers International said on Tuesday.This is particularly in view of the potential economic impact should the Covid-19 outbreak become protracted, the real estate services firm said in its latest research report.
https://www.businesstimes.com.sg/real-estate/singapore-2020-property-auction-listings-may-rise-10

Singapore Economy

Q2 business sentiment plunges to new low on Covid-19 fallout
Business sentiment among Singapore firms plunged to an all-time low in the second quarter of 2020 on coronavirus health risks and potential economic impact, according to Singapore Commercial Credit Bureau’s (SCCB) latest Business Optimism Index study released on Tuesday.
https://www.businesstimes.com.sg/government-economy/q2-business-sentiment-plunges-to-new-low-on-covid-19-fallout
https://www.straitstimes.com/business/economy/business-sentiment-here-hits-new-low-amid-outbreak

IPOs including Reits grind to halt as Covid-19 jitters hit markets
Volatility across global stock markets as the Covid-19 outbreak spreads has put a brake on initial public offers (IPOs) including real estate investment trusts (Reits) and business trusts that are in the pipeline as travel plans and face-to-face meetings have been disrupted, squashing hopes for a recovery.
https://www.businesstimes.com.sg/stocks/ipos-including-reits-grind-to-halt-as-covid-19-jitters-hit-markets

Views, Reviews, Forum & Others

Promoting Singapore as a hub for sustainable finance
The topic of sustainability has become mainstream, particularly in the last 18 months, in no small part due to greater media focus on climate change and calls for greater transparency from investors. In Singapore, Prime Minister Lee Hsien Loong dedicated a segment of his 2019 National Day Rally to climate change as an existential threat.
https://www.businesstimes.com.sg/opinion/promoting-singapore-as-a-hub-for-sustainable-finance

Update on COVID-19 (Coronavirus Disease 2019) situation

Coronavirus: WHO praises Singapore’s containment of Covid-19 outbreak
Singapore – World Health Organisation (WHO) chief Tedros Adhanom Ghebreyesus has praised Singapore’s “all-government approach” in the containment of Covid-19. He also said the threat of a pandemic has become very real, and urged countries around the world to “not give up” in the fight against the coronavirus disease.
https://www.straitstimes.com/singapore/health/coronavirus-who-praises-singapores-containment-of-covid-19-outbreak

Coronavirus: Singapore mindful of need to calibrate social distancing measures, says Lawrence Wong
Even as Singapore intensifies social distancing measures to deal with the coronavirus outbreak, it is mindful that this has to be done in a calibrated manner, National Development Minister Lawrence Wong said yesterday. Social activities organised by government agencies for seniors have been suspended for 14 days.
https://www.straitstimes.com/singapore/spore-mindful-of-need-to-calibrate-social-distancing-measures
https://www.straitstimes.com/singapore/health/social-activities-for-seniors-on-hold-for-14-days-as-precaution
https://www.businesstimes.com.sg/government-economy/govt-agencies-to-halt-seniors-events-for-14-days-amid-covid-19-outbreak

Coronavirus: 1 in 5 patients went out or carried on with work despite being ill
One in five confirmed coronavirus patients here went out despite being unwell, said Health Minister Gan Kim Yong yesterday. One in four also consulted more than one doctor, he said at a press conference, giving an update on the Covid-19 situation.
https://www.straitstimes.com/singapore/health/1-in-5-patients-went-out-or-carried-on-with-work-despite-being-ill
https://www.gov.sg/article/covid-19-spread-caused-by-socially-irresponsible-behaviour

Social responsibility key to fighting virus
A new SG Clean task force has been set up to raise hygiene standards across the nation. The initiative comes on the back of the SG Clean campaign launched in the middle of last month to raise cleanliness and safeguard public health amid the coronavirus outbreak.
https://www.straitstimes.com/opinion/st-editorial/social-responsibility-key-to-fighting-virus
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation