The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 24 March 2022 (Thu)

Singapore Real Estate

Verdun House up for en-bloc sale again with S$55m reserve price
Verdun House at Farrer Park has been relaunched for an en-bloc sale via tender at a reserve price of S$55 million, said property consultancy and investment sales specialist Delasa on Wednesday (Mar 23).

BT’s newest podcast focuses on Singapore property
Is it more beneficial to rent or own private property? Should singles be allowed to purchase prime location public housing (PLH) flats? In a time riddled with inflation and cooling measures, what are some of the real estate segments worth investing in?

Singapore Economy

Drop in core inflation unlikely to delay more monetary policy tightening in April
Core inflation came in a shade below analyst expectations in February – but the latest reading is not expected to deter the Monetary Authority of Singapore (MAS) from tightening policy next month.

Views, Reviews, Forum and Others

Is Powell too late in declaring war against inflation?
With inflation skyrocketing 7.9 per cent over the past year, according to the February report from the US Bureau of Labor Statistics, the fastest rate of inflation since June, it is not surprising that all the major players in Washington are engaged now in the usual blame game.

Markets are pushing Fed into developing-economy territory
Judging from price movements on Monday (Mar 21), the Federal Reserve risks slipping further into a no-win interaction with markets more typical of developing countries that lack policy credibility than to a systemically important central bank – let alone the world’s most powerful one.

The next Covid-19 wave is probably already on its way
The most important lesson of the Covid pandemic is that the only constant is change. Variants spread, cases surge and abate, treatments change and knowledge expands. This means that we – the public, elected officials and public health leaders – need to learn constantly and adapt quickly, acting on the insight that no one policy response is likely to stay effective for long.

Shouldering the responsibility of payment security
Two years since the surge in adoption of digital payments, shoppers have seamlessly transitioned to their day-to-day use, with online payments becoming second nature for those buying goods and services online.

Singapore, Malaysia to work towards full resumption of air, land travel
Singapore and Malaysia have agreed to work together towards the full resumption of air and land travel for fully-vaccinated people, said Health Minister Ong Ye Kung on Wednesday (Mar 23). Ong, who is in Kuala Lumpur for a working visit, announced this on his Facebook page after meeting his Malaysian counterpart Khairy Jamaluddin and Director-General of Health Noor Hisham Abdullah


Singapore Budget 2022

President Halimah approves draw of S$6b from past reserves to fund Singapore’s Covid-19 expenditure
President Halimah Yacob has given her formal approval for the government to draw S$6 billion from the past reserves to fund a “multi-pronged approach” to continue to support Singapore’s Covid-19 public health expenditure.

Update on COVID-19 (Coronavirus Disease 2019) Situation

Daily new Covid-19 cases in Singapore at 8,940
[Singapore] Daily new Covid-19 infections reported in Singapore fell on Wednesday (Mar 23) to 8,940 cases, down from the 13,166 reported on Tuesday. The number of patients hospitalised fell to 951 cases on Wednesday, from 1,023 on Tuesday. The last time Covid-19 cases in hospitals here was lower than 1,000 was on Feb 4.

Hit harder by Covid-19 than other people? It’s often to do with your genes, say experts
Singapore – Why do some healthy, vaccinated people take so long to recover from Covid-19 infections, while others – perhaps older or even less healthy – just shrug the virus off? The answer is often found in our genes, say experts in Singapore.

A decisive move towards living with Covid-19: PM Lee’s full speech
Singapore – Prime Minister Lee Hsien Loong spoke to Singaporeans on Thursday (March 24) to give an update on the Covid-19 situation. He said Singapore has reached a major milestone in its Covid-19 journey and is now ready to take a decisive step forward towards living with Covid-19.

Singapore eases Covid-19 rules: What you need to know – from mask wearing to gathering rules
Singapore – There will be an easing off on mandatory mask wearing outdoors from next Tuesday (March 29), as Singapore moves towards a new phase of living with Covid-19.

Group size to double to 10 pax; masks no longer needed outdoors from Mar 29
The maximum group size for social gatherings will be doubled from the current 5 persons to 10, starting Mar 29, and the wearing of masks outdoors will be optional. With Singapore’s fight against Covid-19 having reached a “major turning point”, the government is making a “decisive move” towards living with the virus, said Prime Minister Lee Hsien Loong as he announced the easing of the country’s safe-management measures in a televised speech on Thursday (Mar 24).

Singapore to ease border restrictions, travel to be ‘almost like before Covid-19’: PM Lee
Singapore – Cross-border travel restrictions will be eased substantially from Tuesday (March 29) as the Covid-19 situation comes under control, said Prime Minister Lee Hsien Loong. In a national address broadcast live on Thursday (March 24), Mr Lee said testing and quarantine requirements for travellers will be streamlined under a simplified vaccinated travel framework.

Singapore to ‘drastically streamline’ testing, quarantine rules with Vaccinated Travel Framework
Singapore will “drastically streamline testing and quarantine requirements for travellers”, said Prime Minister Lee Hsien Loong on Thursday morning in a live broadcast on the next phase of living with Covid-19.

*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 new home sales fell but supply crunch eases in February

US reinstates tariff exemptions on some Chinese products

New US-UK trade deal cuts tariffs on British steel, American motorcycles, bourbon

Epstein’s Caribbean islands list for US$125m: WSJ

Federal Reserve officials nod to big rate hikes to fight ‘inflation, inflation, inflation’

Sunak says UK economy to grow more slowly in 2022, inflation to jump

Meta’s mega data centre faces pushback in the Netherlands

Trudeau’s power pact targets housing costs

Property developer Sunac China to extend payment for US$633m bond

Bank of Japan policymakers saw chance of inflation overshoot in January: minutes

Japan lifts power-supply warning for Tokyo and surrounding areas

Shanghai warns against ‘panic’ as Covid cases mount

Hong Kong hopes to ‘resolve’ Covid flight-ban rule as cases ease

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