The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 13 June 2023 (Tue)

Singapore Real Estate


Buying a condo? Check if there are enough car park spaces
I shop the old-fashioned way, visiting physical stores to make purchases. I want to see, touch and sometimes try out items before buying. My wife shops differently. Her faith in online shopping is strong. Her confidence is helped by the ease of returning products and getting a refund.


One-third of ethnic integration housing policy appeals succeeded in 2022, up from 21% in 2020
Singapore: About a third of appeals in relation to the Ethnic Integration Policy (EIP) last year were successful – up from 21 per cent in 2020. These appeals made up a “small number” – 1.5 per cent – of all Housing and Development Board (HDB) flat resale applications, said Law and Home Affairs Minister K Shanmugam on Monday (Jun 12) at the Institute of Policy Studies’ 35th anniversary conference.


HDB to double interim rental flats for families to 4,000 units over next two years
The Housing Board (HDB) will set aside more temporary housing for families waiting for their new flats, doubling the number of interim rental flats to 4,000 over the next two years. Announcing this on Monday (Jun 12), Senior Minister of State for National Development Sim Ann said that HDB had met its earlier target of increasing the supply of flats under the Parenthood Provisional Housing Scheme (PPHS) from 800 units in 2021 to 1,800 in 2023.



Singapore Economy


Demand to fill green jobs in Singapore fuels hiring optimism for Q3: Survey
Singapore – Despite the uncertain economic outlook, there are signs that the need to fill green jobs has helped to restore hiring optimism among Singapore employers ahead of the third quarter of 2023.


Singapore tourist arrivals slip in May, but remain at over a million
Singapore’s international visitor arrivals exceeded a million in May for the third straight month, but slipped from April’s post-pandemic high. Tourism arrivals slid to 1.11 million in May, down from 1.13 million recorded in the preceding month, based on the latest figures from the Singapore Tourism Board (STB) on Monday (Jun 12). But the month’s arrival numbers were more than 2.5 times the 418,458 visitors recorded in the corresponding month in 2022, even as arrivals remained below the 1.5 million visitors recorded in May 2019, before the pandemic.



Global Economy & Real Estate


New York occupancy breaks 50% for first time since pandemic hit


UBS completes takeover of Credit Suisse, embarks on ‘bumpy’ integration


Europe’s commercial property slide closer to UK rout


No pause in sight as European Central Bank eyes next rate hike


Hard for Bank of England to fine-tune end of rate-tightening: BOE


Australia business activity slows sharply in May, more risks ahead


Australia’s consumer sentiment ‘near recession lows’ after hike


China’s property sector set to be persistently weak for years: Goldman


Pimco says stronger support needed for rebound in China property


China’s Covid-19 positive test rate jumped to 40% in May, neared end-2022 peak


Developing | China cuts key policy rate as central bank signals easing to support economy


Hong Kong property: landlords enjoy market rebound as students return, with city rents climbing to 15-month high


‘A mammoth undertaking’: road map for Hong Kong’s Northern Metropolis megaproject could be ready within this year


Hong Kong ‘risks losing chance to host Aramco Team Series golf tournament if it presses ahead with public housing plan’


Hong Kong to unveil plan to recruit foreign labour amid shortage as business surges


Taiwan set to hold rates steady as inflationary pressure eases, exports remain weak: Reuters poll


Japan’s sticky inflation is key to a long-lasting bull market



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