The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 4, 5 & 6 Jun 2022 (Sat, Sun & Mon)

Singapore Real Estate 

More short-term lease sites to be released as Govt studies impact of flexi-work arrangements
Singapore – More sites for commercial and office uses on shorter leases of 15 to 30 years will be introduced in some areas in the near term, as the Government monitors the impact of flexible work arrangements on office space demand.


Singapore Economy

Singapore retail sales up 12.1% in April as tourists return
Singapore retail sales jumped by 12.1 per cent in April, faster than the growth of 8.8 per cent in the month before, with uplift from tourists’ return as international borders reopened. On a seasonally adjusted, monthly basis, sales were up by 1.2 per cent to S$3.7 billion, the Department of Statistics (SingStat) said on Friday (Jun 3).

Singapore’s unemployment rates remain low in April: MOM
Singapore’s unemployment rates continued to stay low in April, according to the Ministry of Manpower (MOM) on Monday (Jun 6). The overall unemployment rate held steady at 2.2 per cent, the same as the month before.

Salaries for about 23,000 civil servants to go up by between 5% and 14%
In a move to “attract and retain” talent and “keep pace with” the market, the civil service will be adjusting the salaries of some 23,000 civil servants upwards by between 5 and 14 per cent. The pay adjustment will take effect from Aug 1.

Skilled workers can relocate again as borders reopen, but low risk of mass ‘brain drain’ from Singapore: analysts
The global war for talent is back on, as international mobility improves with the reopening of borders – and Singapore risks losing high-skilled professionals to greener pastures abroad. Local workers’ interest in relocating is “maybe even slightly higher than pre-pandemic”…


Companies’ Brief

S-Reits with China assets focus on growth despite lockdowns
Major cities in China have started re-opening and easing measures as the number of infections across China dropped. The city of Shanghai finally re-opened on Jun 1 while some districts of Beijing are allowed to return to work.


Views, Reviews, Forum and Others

The new normal? Lessons for businesses beyond the pandemic
Then Phases One, Two, and Three. Followed by Phase Two (Heightened Alert). Next came the Stabilisation Phase. After the staccato of changing safe management measures, we are finally coming to what—for the first time in two years—looks like normalcy. And by “normalcy”, we really mean “what we are used to”.

Staying ready for any new Covid-19 bout
Given the possibility that a wave of Covid-19 infections could hit Singapore in the coming months, it is an imperative that every healthcare setting – from nursing homes to community hospitals – be prepared to handle any rise in cases.

Wellness will be key component of Singapore’s tourism offerings in next 5 to 10 years: STB chief
Singapore – Wellness will be a key part of Singapore’s tourism offerings in the next five to 10 years, and events like the inaugural Wellness Festival will help kick-start this movement, said Singapore Tourism Board (STB) chief executive Keith Tan on Friday (June 3).

Strategies to secure Singapore’s food supply
Amid disruptions to Singapore’s fresh chicken supply triggered by Malaysia’s export ban, The Straits Times looks at the key ingredients of some dishes to examine how diverse Singapore’s food sources are.

Pump prices in Singapore hit new highs, with costliest grade above S$4 a litre
Fuel pump prices have climbed to new highs again to breach S$4 for the first time on the back of an imminent ban on Russian oil and increased demand as world economies return to full swing. According to Fuel Kaki, a pump price tracker set up by the Consumers Association of Singapore, a litre of diesel is now between S$3 (Sinopec) and S$3.08 (Shell, Caltex) – up from S$3-S$3.05 2 weeks ago.


Update on COVID-19 (Coronavirus Disease 2019) situation

Next Covid-19 wave could emerge as people’s antibodies wane: Ong Ye Kung
The next wave of Covid-19 cases in Singapore could emerge as people’s antibodies from vaccinations and infections from the last Omicron wave start to wane, leading to a rise in cases in July or August.

askST: What you need to know about current Covid-19 protocols and the Omicron variant
Singapore – Health Minister Ong Ye Kung on Thursday (June 2) warned that Singapore ought to be prepared for the next Covid-19 wave in July or August, especially as more Singaporeans travel abroad and new sub-variants continue to spread globally.

Rates of severe Covid-19 likely to remain low in S’pore even if cases rise in weeks ahead: Experts
Singapore – With many people planning to travel abroad this month and new Covid-19 sub-variants spreading globally, it is possible that Singapore could see increased regular transmission of the coronavirus in the weeks ahead, experts here said.

Unvaccinated travellers likely to face quarantine for up to two more years: Airlines association chief
Singapore – Quarantine periods for travellers not vaccinated against Covid-19 are likely to remain in place for at least one or two more years, said the chief of a regional airlines association. Mr Subhas Menon, director-general of the Association of Asia-Pacific Airlines (AAPA) told The Straits Times that vaccinations remain a necessary safeguard with the pandemic still ongoing.

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


Global Economy & Global Real Estate

More Fed rate hikes on tap even as job gains moderate

US recession is avoidable if Fed can ‘thread the needle’

US service sector growth slows again in May: ISM survey

US added 390,000 jobs in May amid efforts to cool the economy

International property roadshows kicking into higher gear

Toronto home prices drop for third straight month as rates jump

Corporate US making consumers pay for inflation

Midtown Manhattan has a pulse again

London’s Camden Market up for sale: FT report

New York lawmakers embrace new funding plan to rescue public housing

Euro zone May business growth robust but outlook darkens

Australia inflation accelerated further from 5.1%, Chalmers says

Australia’s new PM endorses wage increase to ease pain of inflation

Beijing to loosen more Covid curbs on Monday

China’s services activity contracts, holiday spending slumps

Hong Kong’s private sector expands at fastest pace since 2011, but doubt remains

HK reports 515 new daily Covid cases, highest tally in 6 weeks

Japan considers resuming tourism discount as Covid eases: Nikkei

Bank of Japan’s priority is to support economy with monetary easing: Kuroda

South Korea’s May consumer inflation near 14-year high, surpasses expectations

Malaysia says higher revenue collection not enough to offset subsidy spike

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