Singapore Real Estate / Built Environment
Number of Singapore residents living in private condos doubles over last 15 years
The number of Singapore residents – including both citizens and permanent residents – living in condominiums and other private apartments doubled in the last 15 years, driven by upgrader buying, higher incomes, and shifting preferences.
Parktown Residence’s sizzling sales: perks and perils of buying into large integrated developments
From the blistering pace of sales at the launch of mega project Parktown Residence, one might think that large-scale integrated developments are especially sought after.
Singapore Economy/News
Record $143b Budget passed; S’pore’s good outcomes over time due to ‘prudent fiscal policy’: Indranee
Parliament unanimously passed on March 10 a record $143.1 billion spending plan, the last Budget of the current term of government. Rounding up two weeks of debate, Leader of the House Indranee Rajah recapped the 12 Budgets that were passed between 2020 and 2025, which included supplementary budgets and ministerial statements on support measures during the pandemic years.
https://www.zaobao.com.sg/news/singapore/story20250310-5996336
S’pore small but ‘far from powerless’ in unpredictable world: Seah Kian Peng in Budget debate round-up
Global disruptions in trade, technology and security will impact Singapore, but the Republic is “far from powerless” despite its small size, said Speaker of Parliament Seah Kian Peng on March 10. He noted that Singapore, like every other country, must brace itself for unpredictability and volatility.
https://www.zaobao.com.sg/news/singapore/story20250310-5996706
Local workforce makes up over 80% of Singapore’s financial sector: Alvin Tan
[Singapore] More than 80 per cent of Singapore’s financial sector workforce comprises locals, with the sector offering the highest median gross incomes among local workers, Minister of State for Trade and Industry Alvin Tan told Parliament on Monday (Mar 10).
Singapore, Hong Kong face growth risks over US tariff war with China
[Singapore] Economists lowered the growth outlook for Singapore and Hong Kong in the second half of this year on increased uncertainties from US President Donald Trump imposing higher tariffs on China’s exports, according to the median of a Bloomberg survey.
Five things to watch out for in GE2025
[Singapore] The Republic’s 15th General Election (GE) is now months or even just weeks away, with the Electoral Boundaries Review Committee’s report imminent.
https://www.businesstimes.com.sg/singapore/five-things-watch-out-ge2025
Business News
Bank of Singapore appoints Joey Tang as Hong Kong head of investment solutions group
Bank of Singapore (BOS) has appointed Joey Tang as Hong Kong head of investment solutions group, with immediate effect.
Keppel Infrastructure Fund leads acquisition of subsea cable solutions provider Global Marine Group
Global asset manager Keppel : BN4 -0.44%on Monday (Mar 10) announced that its private investment vehicle Keppel Infrastructure Fund (KIF) and its co-investor acquired a 100 per cent stake for an undisclosed sum in UK-headquartered Global Marine Group (GMG), from investment affiliates of JF Lehman and Company.
Global Economy & Real Estate
Australia business confidence falls in February despite interest rate relief: survey
Mark Carney wins race to replace Canada’s Trudeau
https://www.businesstimes.com.sg/international/mark-carney-wins-race-replace-canadas-trudeau
China’s high-end rental market struggles post-Covid amid dwindling expats, firms
In deflation-hit China, one store holds flash sales four times a day
Hong Kong urged to review public housing income threshold due to new minimum wage
Hong Kong’s Times Square owner says earnings sink on weak retail, property market
Hong Kong rents hit 5½-year high as demand surges post-holiday season
Indonesia’s layoff crisis deepens as factories shut; growth hangs in the balance
Bank of Japan’s next rate hike is likely in June, former executive says
Japan revises down Q4 GDP growth on lower consumption
https://www.channelnewsasia.com/business/japan-revises-down-q4-gdp-growth-lower-consumption-4991991
Japan January household spending rises 0.8% year/year
https://www.channelnewsasia.com/business/japan-january-household-spending-rises-08-yearyear-4991941
Japan’s tightening job market pushes more firms under, survey shows
Malaysia’s new pension fund rule for foreign workers will boost EPF but is thin on details
Renters turn to lottery in Spain’s housing crisis
https://www.businesstimes.com.sg/property/renters-turn-lottery-spains-housing-crisis
Thailand readies 27 billion baht in new cash handout to spur growth
UK pay growth at four-year low as employers brace for tax hit
https://www.businesstimes.com.sg/international/uk-pay-growth-four-year-low-employers-brace-tax-hit
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