The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 15 December 2021 (Wed)

Singapore Real Estate

Resale condo prices up for 16th straight month in November, longest consecutive rise since 2013
Singapore – Condominium prices in Singapore continued to rise last month, inching up by 0.8 per cent to mark the 16th consecutive month of price rises, according to flash figures by and SRX Property released on Tuesday (Dec 14).


Companies’ Brief

ARA Asset Management to sell Singapore office building leased by Alibaba: sources
[Singapore] Real estate fund manager ARA Asset Management and UK property group Chelsfield are listing their jointly owned Singapore office building for about S$800 million, according to people with knowledge of the matter.

Keppel Land sets net zero carbon goal
Keppel Land, the property arm of Keppel Corp has set a net-zero carbon commitment, with an aim to reach this by 2030. In a press statement on Tuesday (Dec 14), Keppel Land said that it will cut emissions that come directly from the company’s operations (Scope 1) and emissions from power supplied to the company (Scope 2) by 100 per cent in 2030, with 2020 being the base year.

Industrial, logistics most sought-after real estate assets in Asia-Pacific in 2022
Industrial and logistics (I&L) assets will be the most sought-after real estate assets in the Asia-Pacific region next year, while core and core-plus office spaces are the top investment preference for investors globally, consultancy Colliers said in its 2022 Global Investor Outlook Report.


Views, Reviews, Forum & Others

Winds of change in tax collection in a post-pandemic landscape
The Covid-19 pandemic has reshaped the global economy and amplified the need for nations, including Singapore, to strengthen fiscal resilience. As we expect to move into a Covid-19 endemic new normal, Singapore needs to write a new tax chapter – one that can robustly secure economic sustainability for future generations.

Future jobs pose challenges to workers and companies
In the wake of the double whammy of Covid-19 and rising automation, the World Economic Forum (WEF) estimates that by 2025, 85 million jobs may be displaced by a shift in the division of labour between humans and machines.

Home improvement is largely consumption that generates little return on investment
In the days before the Covid-19 pandemic struck, all that many people required of a home was a comfortable bed to get a good night’s rest. Weekdays could be filled with long hours spent in offices, followed by meeting friends for meals and drinks or heading to the gym or catching a performance.


Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore should be more resilient with each Covid-19 wave: Ong Ye Kung
Singapore – As Singapore deals with successive waves of Covid-19, it should find itself growing more resilient, said Health Minister Ong Ye Kung on Tuesday (Dec 14). This means not returning to the strict restrictions implemented during the circuit breaker – or even those put in place during the phase two (heightened alert) period earlier this year.

Up to 50% can return to office from Jan 1
Singapore’s Covid-19 vaccination stance is getting stricter, with a new validity period for “fully-vaccinated” status, more vaccination-differentiated measures, and the potential end of an exemption that lets unvaccinated staff enter workplaces – even as more employees are allowed to return.

Boosters needed for extension of full vaccination status as Covid-19 variants emerge
Singapore – With new Covid-19 variants such as Omicron surfacing, full vaccination will have to include booster shots as well. Health Minister Ong Ye Kung announced on Tuesday (Dec 14) that for those who have taken two doses of the mRNA vaccines, or three doses of the Sinovac and Sinopharm vaccines, their full vaccination status will lapse unless a booster shot is taken.

Singapore prepares for Omicron wave: Plans to ramp up hospital capacity, expand role of GPs in home recovery
Singapore – Plans are in place to ramp up the capacity of public hospitals and intensive care units, given the higher transmissibility of the Covid-19 variant Omicron and the possibility of a surge in local cases. Singapore’s director of medical services Kenneth Mak said intensive care unit (ICU) capacity may need to be increased to 500 beds, up from the current 280.

No booking required for Moderna booster shots; monitoring time for booster jabs to be halved to 15 minutes
Singapore – Those eligible to receive their booster shots can walk in to a vaccination centre offering the Moderna booster, without having to book an appointment. This is because there are more Moderna booster shots available in December, said Health Minister Ong Ye Kung on Tuesday (Dec 14).

Singapore-Malaysia land VTL extended to citizens of both countries from Dec 20
From Dec 20, citizens from both Singapore and Malaysia will be allowed to travel between the two countries via the land Vaccinated Travel Lane (VTL) scheme, the Ministry of Trade and Industry (MTI) said on Tuesday (Dec 14).

Number of Covid-19 quick test centres to double to about 120 in coming weeks
Singapore – People who have to undergo supervised self-administered antigen rapid tests (ARTs), such as returning travellers and workers in some sectors, will be able to fulfil this requirement more easily in the coming weeks.

*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 study suggests Covid-19 vaccines may be ineffective against Omicron without booster

WHO sees unprecedented Omicron spread, ‘probably’ in most countries

Bitcoin lingers near lows as central banks ready stimulus cuts

Australia business optimism pulls back from post-lockdown highs

China needs to cut rates to lift growth, Beijing think-tank says

Japan ministry overstated construction orders data for years: Asahi

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