The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 14 May 2024 (Tue)

Singapore Real Estate


New HDB resale listing service may improve price transparency, lessen reliance on agents
The resale market for public housing is likely to see less sudden spikes or “outlier” asking prices with the introduction of the Housing & Development Board’s (HDB) new resale flat listing service that has a built-in price-monitoring feature, agents said.


HDB flats: Give those ‘forced’ to buy resale units the chance to buy BTO flats
Singapore’s Housing and Development Board or HDB flats are the envy of people globally. Many Singaporeans own their HDB homes, giving them a stake in the country’s prosperity. HDB homes are well-designed and well-built. HDB towns boast comprehensive amenities that cater to the young and old, as well as good transport connectivity. Also, the HDB embraces sustainable development.



Singapore Economy


Gan Kim Yong to become new DPM in Singapore’s Cabinet reshuffle; no changes to ministerial portfolios
Minister for Trade and Industry Gan Kim Yong will be promoted to deputy prime minister (DPM) come May 15, in a Cabinet reshuffle with few other changes. In the reshuffle announced on Monday (May 13), he will remain Minister for Trade and Industry. With his new appointment, he will be the acting prime minister in the absence of the prime minister.


Singapore’s Cabinet changes at a glance
These changes to the Cabinet line-up and other political appointments take effect on May 15, except for Murali Pillai’s appointments, which do so on Jul 1.


MCI to be renamed Ministry of Digital Development and Information
Singapore – From July 8, the Ministry of Communications and Information (MCI) will be known as the Ministry of Digital Development and Information (MDDI). Announcing the name change on May 13, the Prime Minister’s Office said in a statement: “The new name reflects the ministry’s role in driving our national digital agenda.


Singapore is richer than US, UK or France per capita. Lawrence Wong’s challenge as PM will be maintaining that
It has been independent for just under 60 years and is smaller than New York City. But make no mistake, Singapore is very much in the big leagues when it comes to money. The ascendant financial hub at the crossroads of global trade has in a relatively short period of time, in historical terms, transformed itself from a colonial trading port to the wealthiest nation in Asia – and one of the richest in the world.



Business News


Frasers Property’s capital recycling transactions total S$1.1 billion in H1 2024
Frasers Property will focus on capital recycling and growing its development exposure, the group said, after it posted an 81.8 per cent drop in net profit in the first half of the financial year.


LHN’s H1 net profit down 23.4% to S$13 million
Real estate management services group LHN Group posted a net profit of S$13 million for the half-year ended Mar 31, 2024, down 23.4 per cent from S$16.9 million the year before.



Global Economy & Real Estate


Fed should hold rates until inflation eases: vice-chair Jefferson


Australia to boast budget surplus, eye inflation’s earlier return to target


Australia business conditions soften in April as employment growth slows


France gets 15 billion-euro of foreign investments as part of ‘Choose France’ event


Eurozone economy picking up pace as Germany recovers


German construction workers to strike for first time in 17 years


Hong Kong property: CK Asset discounts #Lyos ‘nano flats’ by 32%, signaling the end of the fad for miniscule homes


Hong Kong-listed warehouse developer ESR Group gets takeover bid from US consortium led by Starwood Capital


Hong Kong loses Malaysian visitors to Thailand due to limited halal options, says lawmaker citing Southeast Asian nation’s tourism officials


Japan on track to normalise monetary policy, says ruling party heavyweight


Japan April wholesale inflation steady as weak yen boosts import costs


Johor mulls property speculation curbs over upcoming Johor-Singapore Special Economic Zone


New Zealand inflation expectations fall further, kiwi dips


New Zealand houses take longer to sell as buyers bide their time


South Korea unveils steps to quicken real estate project finance restructuring


UK job vacancy data may be losing value as economic indicator


UK housing rents driven by record migration, analysis finds


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