Singapore Real Estate
Will plum state land plots in first half 2024 GLS draw more developers’ bids?
In a move that could boost flagging developer participation in state land tenders, more private housing sites have been introduced in the first-half 2024 Government Land Sales (GLS) programme in areas that have not seen such tenders for decades.
https://www.straitstimes.com/business/will-plum-state-land-plots-in-first-half-2024-gls-draw-more-developers-bids
https://www.businesstimes.com.sg/property/watching-lay-land
Commentary: Will higher property tax rates hurt investment returns in the residential market?
The Ministry of Finance will increase the property tax rate with effect from Jan 1, 2024, as the second and final step of the revisions announced in the 2022 Budget. The Government also announced on Nov 30 that it will give a one-off tax rebate for owner-occupied homes to help homeowners offset this rise in taxes.
https://www.todayonline.com/commentary/commentary-will-higher-property-tax-rates-hurt-investment-returns-residential-market-2324556
Singapore Economy
S’pore, Brunei can strengthen ties in food security, green transitions: DPM Wong
Brunei and Singapore can further strengthen cooperation by working together in areas such as food security, green transitions and amplifying their voices on the international stage, Deputy Prime Minister Lawrence Wong said.
https://www.straitstimes.com/singapore/brunei-and-s-pore-can-strengthen-ties-in-areas-including-food-security-green-transition-dpm-wong
Economists cut Singapore’s 2024 growth forecast to 2.3%, maintain 2023 projection at 1%: survey
Private-sector economists lowered their forecast for Singapore’s 2024 growth and raised inflation expectations, in the latest quarterly survey of professional forecasters published by the Monetary Authority of Singapore (MAS) on Wednesday (Dec 13).
https://www.businesstimes.com.sg/singapore/economists-cut-singapores-2024-growth-forecast-23-maintain-2023-projection-1-survey
https://www.straitstimes.com/business/economy/economists-cut-singapore-s-2024-growth-forecast-on-global-slowdown-fears-mas-survey
What shifting supply chains mean for Singapore’s manufacturing industry
Leaders of multinational companies face unprecedented uncertainty in shaping their supply chain strategies and reconfiguring their companies’ network footprints in response to global geopolitical upheaval.
https://www.theedgesingapore.com/views/manufacturing/what-shifting-supply-chains-mean-singapores-manufacturing-industry
Views, Reviews Forum and Others
‘We can withstand this’: Ong Ye Kung on latest spike in Covid-19 cases
A little anxiousness over the latest spike in Covid-19 cases is not a bad thing, said Health Minister Ong Ye Kung, pointing out how it would make people take extra precautions.
https://www.straitstimes.com/singapore/we-can-withstand-this-ong-ye-kung-on-latest-spike-in-covid-19-cases
https://www.channelnewsasia.com/singapore/covid19-cases-infections-vaccination-moh-ong-ye-kung-3985991
Covid surge prompts calls for return of masks in Singapore, airport scanners in Indonesia
Governments across Southeast Asia are bringing back measures to limit a rapid resurgence of respiratory infections such as Covid-19, including installing temperature scanners at airports and encouraging people to wear masks again. The goal is to slow the spread of a variety of germs, as a confluence of Covid, flu and other respiratory pathogens may set off wider outbreaks that ultimately stretch healthcare systems.
https://www.scmp.com/news/asia/southeast-asia/article/3244931/covid-surge-prompts-calls-return-masks-airport-scanners-singapore-and-indonesia
Global Economy & Real Estate
Developing countries spent record US$443.5 billion to service public debts in 2022
https://www.businesstimes.com.sg/international/developing-countries-spent-record-us4435-billion-service-public-debts-2022
ADB cuts South-east Asia growth forecasts for 2023, 2024 on lacklustre manufacturing sector
https://www.businesstimes.com.sg/international/asean/adb-cuts-south-east-asia-growth-forecasts-2023-2024-lacklustre-manufacturing
US Fed holds rate steady, signals three cuts ahead in 2024
https://www.straitstimes.com/business/economy/us-fed-holds-rate-steady-signals-three-cuts-ahead
https://www.channelnewsasia.com/business/us-fed-leaves-rates-unchanged-signals-cuts-2024-3987361
https://www.theedgesingapore.com/news/us-economy/fed-pivots-rate-cuts-inflation-heads-toward-2-goal
US Treasury’s Yellen sees consistent pattern of inflation coming down
https://www.straitstimes.com/business/economy/us-treasurys-yellen-sees-consistent-pattern-of-inflation-coming-down
https://www.theedgesingapore.com/news/us-economy/yellen-sees-inflation-gradually-heading-back-feds-2-target
US mortgage rates fall for a fourth week to lowest since July
https://www.businesstimes.com.sg/property/us-mortgage-rates-fall-fourth-week-lowest-july
US wholesale prices stall in November
https://www.businesstimes.com.sg/international/us-wholesale-prices-stall-november
Argentina inflation tops 160% spotlighting challenge for Milei
https://www.straitstimes.com/world/argentina-inflation-tops-160-spotlighting-challenge-for-milei
Bank watchdog keeps rule that’s slowing Canada’s mortgage market
https://www.businesstimes.com.sg/property/bank-watchdog-keeps-rule-thats-slowing-canadas-mortgage-market
China’s economy seen weakening on drags from deflation, property
https://www.businesstimes.com.sg/international/chinas-economy-seen-weakening-drags-deflation-property
China policymakers visit Hong Kong to boost finance hub
https://www.businesstimes.com.sg/international/china-policymakers-visit-hong-kong-boost-finance-hub
China official vows to prevent collective defaults of developers
https://www.businesstimes.com.sg/property/china-official-vows-prevent-collective-defaults-developers
China rides high on domestic tourism wave as 2023 revenues reach pre-coronavirus pandemic levels
https://www.scmp.com/economy/china-economy/article/3244947/china-rides-high-domestic-tourism-wave-2023-revenues-reach-pre-pandemic-levels
ECB has tough job to fight rate cut bets as inflation falls
https://www.businesstimes.com.sg/international/ecb-has-tough-job-fight-rate-cut-bets-inflation-falls
Most European banks wary of commercial real estate lending
https://www.businesstimes.com.sg/property/most-european-banks-wary-commercial-real-estate-lending
EU to launch anti-money laundering agency after scandals
https://www.businesstimes.com.sg/international/eu-launch-anti-money-laundering-agency-after-scandals
German government to keep debt brake in 2024 budget
https://www.businesstimes.com.sg/international/german-government-keep-debt-brake-2024-budget
Hong Kong holds rate as US Fed signals cuts next year
https://www.businesstimes.com.sg/international/hong-kong-holds-rate-us-fed-signals-cuts-next-year
Global slowdown, geopolitics biggest concerns for Hong Kong firms in year ahead, chamber survey finds
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3244988/global-slowdown-geopolitics-biggest-concerns-hong-kong-firms-year-ahead-chamber-survey-finds
Japan business sentiment rises across the board ahead of Bank of Japan’s policy decision
https://www.straitstimes.com/business/economy/japan-business-sentiment-rises-across-the-board-ahead-of-bank-of-japan-s-policy-decision
https://www.channelnewsasia.com/business/japans-business-mood-hits-near-2-year-high-keeps-boj-exit-focus-3984981
Big bet on a return to the office in central London
https://www.businesstimes.com.sg/property/big-bet-return-office-central-london
Experts call for stringent measures as Covid-19 cases continue to rise in Malaysia
https://www.straitstimes.com/asia/se-asia/experts-call-for-stringent-measures-as-covid-19-cases-continue-to-rise-in-malaysia
https://www.todayonline.com/world/malaysias-health-ministry-calls-people-mask-again-covid-19-weekly-cases-nearly-double-13000-2324966
New Zealand GDP contraction dials back interest rate hike expectations
https://www.businesstimes.com.sg/international/new-zealand-gdp-contraction-dials-back-interest-rate-hike-expectations
Sweden posts sharp home-price plunge as borrowing costs soar
https://www.businesstimes.com.sg/property/sweden-posts-sharp-home-price-plunge-borrowing-costs-soar
Bank of England to hold rates as markets raise bets on 2024 cuts
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-england-hold-rates-markets-raise-bets-2024-cuts
UK economy shrinks, testing BOE’s resolve on rates
https://www.businesstimes.com.sg/international/uk-economy-shrinks-testing-boes-resolve-rates
UK builders going rogue but fewer offenders caught
https://www.businesstimes.com.sg/property/uk-builders-going-rogue-fewer-offenders-caught
UK housing market stabilises but high rates still weigh: RICS
https://www.businesstimes.com.sg/property/uk-housing-market-stabilises-high-rates-still-weigh-rics
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