The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 11 March 2022 (Fri)

Singapore Real Estate

Hotel Clover in Jalan Sultan sold for S$74.8m to HK’s Weave Living
A row of 17 conservation shophouses in the Kampong Glam area currently operating as the 88-room Hotel Clover in Jalan Sultan is being sold for S$74.8 million. The buyer is a special purpose vehicle that is majority owned by Hong Kong-headquartered Weave Living, an integrated lifestyle rental accommodation brand set up in 2017.

HDB resale volumes slide 22% in February but prices continue to climb: SRX,
Resale volumes of Housing Board (HDB) flats slid 22 per cent month on month to an estimated 1,904 transactions in February 2022, according to flash estimates released by SRX Property and on Thursday (Mar 10).

Yishun HDB jumbo flat sold for over $1m, 2nd unit in non-mature estate to cross million-dollar mark
Singapore – An almost 30-year-old Housing Board (HDB) jumbo flat in Yishun changed hands for $1.038 million last month, making it the second flat in a non-mature estate to cross the million-dollar mark.


Singapore Economy

Government monitoring petrol prices to ensure there is no profiteering: Tan See Leng
Singapore’s antitrust authorities are keeping a close watch to ensure petrol companies do not profiteer from the recent surge in crude oil prices that has occurred after war broke out in Ukraine, said Second Minister for Trade and Industry Tan See Leng on Thursday (Mar 10).


Views, Reviews, Forum and Others

Conflict raises inflation and growth risks
Just as it was emerging from the ravages of the Covid-19 pandemic, the Singapore economy has run into another unforeseen tail-risk event: the Russian invasion of Ukraine. The economic fallout from this war and the resulting sanctions on Russia have yet to fully play out.

A derailed EU will have a greater knock-on effect on Asean
While Asean’s trade and investment linkages to Russia are relatively small, a derailed economic recovery in Europe as a result of a protracted Ukraine invasion will have a greater knock-on effect on the region, and particularly on Singapore, a key trading partner of the European Union (EU).


Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore reports 16,165 new Covid-19 cases with 1,450 patients in hospital
[Singapore] Daily new Covid-19 infections and hospitalisations in Singapore fell on Thursday (Mar 10), with 16,165 new cases and 1,450 people hospitalised. There were 17,051 infections and 1,513 people hospitalised on Wednesday .

Some experts fear spike in Covid-19 cases if curbs are eased too soon, others are more bullish
Singapore – The Omicron wave has peaked and infection numbers are coming down, said Health Minister Ong Ye Kung in Parliament on Wednesday (March 9). Does this mean that the current measures to curb Covid-19 will be eased soon?

Clinics to revert to regular operating hours as Omicron wave subsides: MOH
Singapore – Extended operating hours of selected Public Health Preparedness Clinics (PHPCs) and polyclinics will stop from Friday (March 11) as the Omicron wave shows signs of subsiding, said the Ministry of Health (MOH) on Thursday.

*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

US inflation hits fresh 40-year high of 7.9% in February, before oil spike

Most of US population can ditch masks as Covid eases: CDC

US House approves Ukraine aid, Russia oil ban, funds averting US government shutdown

Covid-19 study finds death toll may be three times higher than official tally

Ukraine conflict may impact food security: World Bank

IMF expects to cut global growth forecast due to Ukraine war: Georgieva

Britain’s hottest real estate spot is a town on Devon coast

San Francisco workers are returning to offices, says mayor

Australia’s central bank tells borrowers to prepare for higher rates

Westpac chief says Australian mortgages are cushioned for hikes

Japan business mood sinks, eclipses household spending boost as Ukraine risks grow

206-year-old Swire bets another HK$120b on China growth

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