The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 22 Dec 2020 (Tue)

Singapore Real Estate

December’s new home sales could spike if buyers expect better growth in 2021
Buyers piling into new condos could push December sales to spike with one prediction that sales could be 70 per cent more than November’s 767. With economic growth predicted for 2021, prices could go higher and is one reason people buy now,” said Nicholas Mak, ERA Realty, head of research & consultancy.

Cold store warehouse rents to rise as Singapore aims to be hub for vaccines
Rents for cold store logistics warehouses here could pick up as Singapore positions itself as a centre for the storage and shipment of vaccines, according to Cushman & Wakefield, which says that limited supply of such facilities should translate to higher capital gains for investors who enter the market early.

Vaccinations, low rates, liquidity to drive Singapore property investment market in 2021: CBRE
Property investment sales in Singapore are likely to rebound as vaccination programmes are rolled out next year, with business sentiment picking up and border restrictions gradually eased, CBRE said in a press statement on Monday.

HDB to launch 17,000 BTO flats in 2021
About 17,000 Build-To-Order (BTO) flats will be launched in 2021, keeping the supply of new flats in line with what was launched this year. However, given the economic uncertainty due to Covid-19, the Housing and Development Board (HDB) will monitor the housing market closely and calibrate flat supply if required, said National Development Minister Desmond Lee in a Facebook post on Monday.

The survival of co-working rests on building a community
The failed initial public offering (IPO) of WeWork in 2019 has put the co-working model in the limelight, and also led some to cast doubt on the financial sustainability and viability of the shared space concept. The co-working operators faced a double whammy following Covid-19 that has disrupted economic and social activities. The question is: how will they adapt?

Relaxed rules will help ease labour crunch: Contractors
A recent move to allow the return of existing work pass holders as well as entry into Singapore for new work pass holders has been cheered by a beleaguered construction sector that has been squeezed by a labour crunch due to tighter border controls amid the coronavirus pandemic.


Singapore Economy

Job market shows signs for optimism in 2021: Labour chief
The job market has shown signs for optimism next year, although some sectors will remain in the doldrums, labour chief Ng Chee Meng said yesterday. The aviation and aerospace sectors, engineering clusters which support those sectors, as well as hospitality and tourism, are likely to stay muted, he said, noting that these are areas in “survival and sustainability modes”.


Views, Reviews, Forum & Others

As protectionism rears ugly head, trade cooperation vital for recovery
With scores of countries around the world dealing with a damaging recession and fresh waves of coronavirus infections, there are louder calls for more governments to discard their protectionist agenda and realise that such behaviour is self-defeating and will harm their economies and people in the long run.

Seeking out the bright spots for Singapore SMEs
Despite Singapore experiencing relatively encouraging domestic recovery, buffered by government efforts to flatten the curve, SMEs are anticipating a longer path to recovery compared to their global peers. Although HSBC’s latest Navigator survey revealed that two-thirds of SMEs are adapting to the new environment, Singapore’s open and trade-dependent economy means they’re more pessimistic about 2021 than businesses globally.

Mixed-reality set to enrich hybrid events
Marina Bay Sands has added mixed-reality (MR) capabilities to its hybrid broadcast studio launched in August, broadening its range of tech offerings for event organisers in Singapore. The studio features a three-dimensional stage with LED wall backdrops and floor, broadcast-quality live-streaming capabilities and hologram functionalities.

7 in 10 bosses aim to hire workers with broader skill sets: Survey
Seven in 10 employers intend to hire workers with broader skill sets in the future, a recent survey showed. Results from the NTUC LearningHub’s survey were published yesterday as part of a report which noted that almost all employers agreed there that there was a greater need for employees able to take on hybrid roles.


Update on COVID-19 (Coronavirus Disease 2019) Situation

Sole local Covid-19 case tested positive before cruise
The sole locally transmitted Covid-19 case yesterday was a Singaporean woman who tested positive before a scheduled cruise trip, said the Ministry of Health (MOH). The ministry said that on Dec 14, the 39-year-old woman and her family had gone on a Southern Islands tour with two other families, and their group had 12 people in all.

First shipment of Covid-19 vaccine lands in Singapore on SIA flight from Brussels
Singapore is looking to play a role in the global packaging and distribution of vaccines, as the Republic marks the successful shipment of its first batch of vaccine from Belgium following multiple trials and deliberate planning.

S’pore aims to be hub for vaccine distribution in region
Singapore wants to become a Covid-19 vaccine distribution hub for the region, Transport Minister Ong Ye Kung said yesterday. He said the Republic has the capabilities to make sure the process is secure and there is adequate capacity.

STB directs 2 RWS hotels to suspend bookings for a month
Two hotels at Resorts World Sentosa have been barred from accepting new bookings for a month from today, for failing to follow safe distancing measures. The Singapore Tourism Board (STB) said in a statement yesterday that the suspensions for Beach Villas and Equarius Hotel will last till Jan 21. The hotels can still fulfil existing bookings.

8 more Mandarin Orchard staff likely had past infections
Eight more hotel staff at Mandarin Orchard Singapore, after taking serological tests, have tested positive, indicating likely past infections of Covid-19, said the Ministry of Health (MOH) yesterday afternoon. They are in addition to the three cases announced on Sunday. Epidemiological investigations of these 11 cases are in progress, the ministry said.
*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

UK, Europe stocks dive with new movement curbs

US lawmakers reach deal on US$900b Covid-19 relief package

China’s export comeback has factories scrambling for workers

Japan endorses record budget to cope with virus pain

Dubai developer Damac warns against ‘dumping’ in 2021

Malaysia faces revenue crunch as spending mounts on coronavirus woes

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