Singapore Real Estate
Tight supply of homes to ease in 2023, price growth moderated after cooling measures: Desmond Lee
Singapore – Price growth in both the private and Housing Board resale markets moderated in the fourth quarter of 2022, as transaction volumes dropped following property cooling measures, said National Development Minister Desmond Lee.
https://www.straitstimes.com/singapore/housing/tight-supply-of-homes-to-ease-in-2023-price-growth-moderated-after-cooling-measures-desmond-lee
BCA projects Singapore construction demand in 2023 to hit S$27-32b, with public sector leading the way
The value of construction contracts to be awarded in 2023 is projected to range between S$27 billion and S$32 billion this year, Singapore’s Building and Construction Authority (BCA) said on Thursday (Jan 12).
https://www.businesstimes.com.sg/international/bca-projects-singapore-construction-demand-2023-hit-s27-32b-public-sector-leading-way
https://www.straitstimes.com/singapore/housing/construction-demand-for-2023-to-be-stable-driven-by-public-sector-works-like-bto-flats
Cooling of en bloc market expected this year with new measures on floor space, stamp duties
Singapore: The collective sales and en bloc market is expected to cool down this year, with the introduction of new control measures, along with economic uncertainty and geopolitical tensions. Various cooling measures, such as additional buyer’s stamp duty and a new rule on calculating a property’s gross floor area that reduces the space developers can sell, will impact the market, said analysts.
https://www.channelnewsasia.com/singapore/cooling-measures-en-bloc-market-floor-space-stamp-duties-3200981
Singapore property investment sales drop in Q4, but end stronger for full year
Investment sales of Singapore property, which cover big-ticket deals of at least S$10 million, languished in the fourth quarter, according to separate figures from consultants CBRE and Knight Frank.
https://www.businesstimes.com.sg/property/singapore-property-investment-sales-drop-q4-end-stronger-full-year
Singapore Economy
Singaporeans list housing, living costs as top concerns in poll
Singaporeans want the government to address housing affordability and cost-of-living issues better, according to a poll by YouGov, underscoring concerns brought on by an influx of rich immigrants and high-earners.
https://www.businesstimes.com.sg/singapore/singaporeans-list-housing-living-costs-top-concerns-poll
KPMG calls for clarity over wealth taxes, policies to spur green investments in Budget 2023 wish list
Clarity on whether Singapore will be introducing wealth taxes in the near future and policies to spur greater green investments were among the proposals recommended in KPMG’s Budget 2023 wish list on Thursday (Jan 12).
https://www.businesstimes.com.sg/singapore/kpmg-calls-clarity-over-wealth-taxes-policies-spur-green-investments-budget-2023-wish
Global Economy & Real Estate
A soft landing won’t mean the economy is safe
https://www.businesstimes.com.sg/opinion-features/soft-landing-wont-mean-economy-safe
World economy walks tightrope between recession and soft landing
https://www.businesstimes.com.sg/international/world-economy-walks-tightrope-between-recession-and-soft-landing
https://www.straitstimes.com/business/world-economy-walks-tightrope-between-recession-and-soft-landing
IMF chief expects to keep 2023 global growth forecast steady at 2.7%
https://www.businesstimes.com.sg/international/imf-chief-expects-keep-2023-global-growth-forecast-steady-27
https://www.channelnewsasia.com/business/imf-chief-expects-keep-2023-global-growth-forecast-steady-27-3202846
Fed on track for smaller rate hikes after cool US inflation data
https://www.straitstimes.com/business/fed-on-track-for-smaller-rate-hikes-after-cool-us-inflation-data
US inflation hits slowest pace in over a year amid hopes of less hawkish Federal Reserve
https://www.businesstimes.com.sg/international/us-inflation-hits-slowest-pace-over-year-amid-hopes-less-hawkish-federal-reserve
https://www.theedgesingapore.com/news/us-economy/us-inflation-cools-again-giving-fed-room-downshift-rates
US mortgage rates fall to 6.33% in biggest drop since early December
https://www.businesstimes.com.sg/property/us-mortgage-rates-fall-633-biggest-drop-early-december
US consumer prices fall in December; weekly jobless claims edge down
https://www.straitstimes.com/business/us-consumer-prices-fall-in-december-weekly-jobless-claims-edge-down
https://www.channelnewsasia.com/business/us-consumer-prices-fall-december-raising-hopes-next-fed-rate-hike-will-stop-shy-5-3201856
3D printing reaches new heights with two-storey home
https://www.businesstimes.com.sg/property/3d-printing-reaches-new-heights-two-storey-home
https://www.channelnewsasia.com/business/3d-printing-reaches-new-heights-two-story-home-3201326
Higher rates and falling prices hammer Kiwi homeowners
https://www.businesstimes.com.sg/property/higher-rates-and-falling-prices-hammer-kiwi-homeowners
UK homebuilder offers mortgage holidays to lure reluctant buyers
https://www.businesstimes.com.sg/property/uk-homebuilder-offers-mortgage-holidays-lure-reluctant-buyers
New Zealand sees record-low house sales as buyers stay away
https://www.businesstimes.com.sg/property/new-zealand-sees-record-low-house-sales-buyers-stay-away
German employers, with 2m jobs to fill, call for labour reforms
https://www.businesstimes.com.sg/international/german-employers-2m-jobs-fill-call-labour-reforms
Commentary: Staying open to China travellers is a huge economic gamble for Southeast Asia
https://www.channelnewsasia.com/commentary/china-reopen-tourist-singapore-southeast-asia-covid-economy-travel-3200501
Southeast Asia’s growth to wane but still outperform
https://www.theedgesingapore.com/news/global-markets/southeast-asias-growth-wane-still-outperform
China’s on the move again, economic outlook brightens
https://www.straitstimes.com/asia/east-asia/chinas-on-the-move-again-economic-outlook-brightens
https://www.channelnewsasia.com/business/china-covid19-curbs-economic-outlook-brightens-3202906
China’s resale-home transactions 39% higher in Jan than Dec: private survey
https://www.businesstimes.com.sg/property/chinas-resale-home-transactions-39-higher-jan-dec-private-survey
https://www.channelnewsasia.com/business/chinas-resale-home-transactions-39-higher-jan-dec-private-survey-3201091
Hong Kong returns as one of top property investment locations
https://www.straitstimes.com/asia/east-asia/hong-kong-make-return-as-top-property-investment-location
Hong Kong sees record mortgage applications from Chinese buyers
https://www.businesstimes.com.sg/property/hong-kong-sees-record-mortgage-applications-chinese-buyers
https://www.straitstimes.com/business/hong-kong-sees-record-mortgage-applications-from-mainland-chinese-buyers
Japan current account surplus jumps to November record
https://www.businesstimes.com.sg/international/japan-current-account-surplus-jumps-november-record
Bank of Korea raises rates to 14-year high, as expected
https://www.businesstimes.com.sg/international/bank-korea-raises-rates-14-year-high-expected
https://www.channelnewsasia.com/business/bank-korea-raises-rates-14-year-high-expected-3203056
Malaysia aims to maintain same spending level in new Budget 2023
https://www.straitstimes.com/asia/se-asia/malaysia-aims-to-maintain-same-spending-level-in-new-budget-2023?login=true
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