The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 19 May 2022 (Thu)

Singapore Real Estate

Kensington Park condo launches S$1.28 billion collective sale tender
Kensington Park condominium in Serangoon has been offered for en bloc sale by public tender with a guide price of S$1.28 billion, sole marketing agent CBRE announced on Wednesday (May 18).

Highly leveraged homeowners may face double whammy from inflation, housing supply: IREUS
A perfect storm could potentially be on the horizon for owners of private residential properties in Singapore, especially those who are highly leveraged, said the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore.

Singapore Economy

Singapore to lose most from China slump, Natixis says
A slowdown in China’s economic activity from prolonged coronavirus lockdowns this year is set to create the largest knock-on effect on Singapore, according to Natixis. Singapore could see the biggest hit to its gross domestic product as large-scale lockdowns disrupt manufacturing and dampen consumer demand in China, the world’s second-largest importer, Natixis said in a report on Wednesday.

Singapore wants to keep borders open even if Covid variant emerges
Singapore will strive to keep its borders open and stay connected to the rest of world even if a new variant of Covid-19 emerges, Transport Minister S Iswaran said. The island city has learned from its past experiences of dealing with Covid variants, Iswaran said Wednesday in an interview with Bloomberg News.


Views, Reviews, Forum and Others

Bitcoin is proving more stable than stablecoins
When markets drop, my aunt doesn’t call me about buying Japanese yen or bonds, or whatever else looks cheap. But she did call to ask – for the first time – whether now was a good time to buy Bitcoin.

Crashing crypto: Is this time different?
Last week TerraUSD, a stablecoin – a system that was supposed to perform a lot like a conventional bank account but was backed only by a cryptocurrency called Luna – collapsed. Luna lost 97 per cent of its value over the course of just 24 hours, apparently destroying some investors’ life savings.

The dollar’s rapid rise increases risks for global economy
With so much going on in the global economy and financial markets, the US dollar’s strong recent appreciation has attracted less attention than what would have been expected given the historical experience.

Singapore businesses in Shanghai gear up for planned lifting of Covid curbs
With Shanghai aiming to reopen from Jun 1, Singapore businesses caught in its protracted lockdown are gearing up for a long-awaited return to business as usual. However, given how the earlier plans for easing did not materialise, not all are confident of the latest timeline given by the authorities.

Enterprise demand drives WeWork growth in Singapore
Enterprise customers are driving demand for WeWork offices in Singapore and South-east Asia, making up 46 per cent of physical memberships in South-east Asia. And this demand from larger corporations is showing no signs of slowing, said Balder Tol, general manager of WeWork Australia and South-east Asia.


Global Economy & Global Real Estate

World Bank to provide additional US$12b to address global food crisis

US building permits dive in April; housing starts fall

China lockdowns impeding supply chain recovery, slowdown risks spillovers, Yellen says

US recession risk low but Europe ‘vulnerable’: Yellen

Suburbs vs downtown: Toronto’s mixed housing market may signal coming trend

Airbnbs outnumber New York City apartments in hot housing market

Decline of office set to define City of London’s future

Britain’s inflation rate surges to a 40-year high of 9%

Australia reports 48-year-low jobless rate before election

China calls for urgent boost to virus-hit economy

China’s new home prices in April fall for first time since December as Covid bites

Japan exports rise 12.5% y-o-y: MOF

Japan’s March core machinery orders rise 7.1% m-o-m

Japan Inc turns against central bank’s monetary stimulus: survey

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