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.
https://www.businesstimes.com.sg/property/new-hdb-resale-listing-service-may-improve-price-transparency-lessen-reliance-agents
https://www.straitstimes.com/singapore/housing/sellers-welcome-ability-to-market-resale-flats-on-hdb-portal-without-help-of-agents
https://www.todayonline.com/news/new-resale-flat-listing-service-hdb-aims-provide-convenience-and-be-trusted-marketplace-2421216
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.
https://www.businesstimes.com.sg/opinion-features/hdb-flats-give-those-forced-buy-resale-units-chance-buy-bto-flats
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.
https://www.businesstimes.com.sg/singapore/economy-policy/gan-kim-yong-become-new-dpm-singapores-cabinet-reshuffle-no-changes-ministerial-portfolios
https://www.straitstimes.com/singapore/politics/gan-kim-yong-promoted-to-dpm-in-lawrence-wong-s-cabinet-minimal-changes-to-line-up
https://www.todayonline.com/news/gan-kim-yong-become-dpm-new-cabinet-line-incoming-pm-lawrence-wong-seeks-continuity-and-stability-2421381
https://www.channelnewsasia.com/singapore/gan-kim-yong-deputy-prime-minister-health-trade-industry-cabinet-4g-4331896
https://www.scmp.com/week-asia/politics/article/3262523/singapore-cabinet-reshuffle-continuity-focus-veteran-gan-kim-yong-be-lawrence-wongs-deputy
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.
https://www.businesstimes.com.sg/singapore/singapores-cabinet-changes-glance
https://www.straitstimes.com/multimedia/graphics/2024/05/singapore-unveils-new-cabinet/index.html?shell
https://www.channelnewsasia.com/singapore/singapore-cabinet-reshuffle-gan-kim-yong-promoted-dpm-lawrence-wong-prime-minister-4331501
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.
https://www.straitstimes.com/singapore/politics/mci-to-be-renamed-ministry-of-digital-development-and-information
https://www.channelnewsasia.com/singapore/lawrence-wong-pledges-more-press-conferences-improve-public-communication-4332146
https://www.todayonline.com/news/lawrence-wong-pledges-more-press-conferences-part-govts-effort-improve-public-communication-mci-be-renamed-2421476
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.
https://www.scmp.com/news/asia/southeast-asia/article/3262426/singapore-richer-us-uk-or-france-capital-lawrence-wongs-challenge-pm-will-be-maintaining
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.
https://www.businesstimes.com.sg/companies-markets/frasers-propertys-capital-recycling-transactions-total-s-1-1-billion-h1-2024
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.
https://www.businesstimes.com.sg/companies-markets/lhns-h1-net-profit-down-23-4-s-13-million
Global Economy & Real Estate
Fed should hold rates until inflation eases: vice-chair Jefferson
https://www.businesstimes.com.sg/international/fed-should-hold-rates-until-inflation-eases-vice-chair-jefferson
Australia to boast budget surplus, eye inflation’s earlier return to target
https://www.businesstimes.com.sg/international/australia-boast-budget-surplus-eye-inflations-earlier-return-target
Australia business conditions soften in April as employment growth slows
https://www.businesstimes.com.sg/international/australia-business-conditions-soften-april-employment-growth-slows
France gets 15 billion-euro of foreign investments as part of ‘Choose France’ event
https://www.businesstimes.com.sg/international/france-gets-15-billion-euro-foreign-investments-part-choose-france-event
https://www.straitstimes.com/business/economy/france-wins-record-22b-in-foreign-investment-pledges
Eurozone economy picking up pace as Germany recovers
https://www.businesstimes.com.sg/international/eurozone-economy-picking-pace-germany-recovers
German construction workers to strike for first time in 17 years
https://www.businesstimes.com.sg/international/german-construction-workers-strike-first-time-17-years
Hong Kong property: CK Asset discounts #Lyos ‘nano flats’ by 32%, signaling the end of the fad for miniscule homes
https://www.scmp.com/business/article/3262498/hong-kong-property-ck-asset-offers-discounts-32-its-lyos-project-new-territories-pioneered-nano?module=top_story&pgtype=subsection
Hong Kong-listed warehouse developer ESR Group gets takeover bid from US consortium led by Starwood Capital
https://www.scmp.com/business/banking-finance/article/3262547/hong-kong-listed-warehouse-developer-esr-group-gets-takeover-bid-us-consortium-led-starwood-capital
https://www.straitstimes.com/business/esr-halts-trading-on-potential-take-private-plan-sources-say
Hong Kong loses Malaysian visitors to Thailand due to limited halal options, says lawmaker citing Southeast Asian nation’s tourism officials
https://www.scmp.com/news/hong-kong/society/article/3262530/hong-kong-loses-malaysian-visitors-thailand-due-limited-halal-options-says-lawmaker-citing-southeast?module=top_story&pgtype=subsection
Japan on track to normalise monetary policy, says ruling party heavyweight
https://www.businesstimes.com.sg/international/japan-track-normalise-monetary-policy-says-ruling-party-heavyweight
https://www.channelnewsasia.com/business/japan-track-normalise-monetary-policy-says-ruling-party-heavyweight-4330996
Japan April wholesale inflation steady as weak yen boosts import costs
https://www.channelnewsasia.com/business/japan-april-wholesale-inflation-steady-weak-yen-boosts-import-costs-4333381
Johor mulls property speculation curbs over upcoming Johor-Singapore Special Economic Zone
https://www.channelnewsasia.com/asia/johor-singapore-sez-curb-property-speculation-price-hike-4331081
New Zealand inflation expectations fall further, kiwi dips
https://www.businesstimes.com.sg/international/new-zealand-inflation-expectations-fall-further-kiwi-dips
New Zealand houses take longer to sell as buyers bide their time
https://www.businesstimes.com.sg/property/new-zealand-houses-take-longer-sell-buyers-bide-their-time
South Korea unveils steps to quicken real estate project finance restructuring
https://www.businesstimes.com.sg/property/south-korea-unveils-steps-quicken-real-estate-project-finance-restructuring
https://www.channelnewsasia.com/business/south-korea-tightens-scrutiny-speed-real-estate-restructuring-4331146
UK job vacancy data may be losing value as economic indicator
https://www.businesstimes.com.sg/international/uk-job-vacancy-data-may-be-losing-value-economic-indicator
UK housing rents driven by record migration, analysis finds
https://www.businesstimes.com.sg/international/global/uk-housing-rents-driven-record-migration-analysis-finds
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