Singapore Real Estate/Built Environment
12,656 households have opted for HDB lease buyback scheme since 2009
Singapore: About 12,656 households have sold part of their flat’s remaining lease back to the Housing Development Board (HDB) as of Jun 30, with nine in 10 receiving between S$100,000 (US$75,500) and S$300,000.
https://www.channelnewsasia.com/singapore/hdb-lease-buyback-elderly-households-flat-owners-rent-out-rooms-4543381
https://www.todayonline.com/news/12656-households-have-opted-hdb-lease-buyback-scheme-2009-2476306
https://www.straitstimes.com/singapore/housing/most-households-on-hdb-lease-buyback-scheme-received-between-100k-and-300k
Affordability, financing now top concerns for homebuyersAffordability is top of mind for those looking to buy a home in Singapore today, according to a survey by ERA. One quarter of those polled by the real estate agency said they were concerned about home prices, while 16 per cent said it is difficult to secure a larger loan.https://www.businesstimes.com.sg/property/affordability-financing-now-top-concerns-homebuyers-era-survey
Singapore Economy
Singapore dollar rises to 18-month high amid tighter policy view
The Singapore dollar extended gains to an 18-month high versus the greenback as forecasts for the Monetary Authority of Singapore (MAS) to keep a tighter monetary policy relative to the Federal Reserve this year favoured the Asian currency.
https://www.businesstimes.com.sg/singapore/singapore-dollar-rises-18-month-high-amid-tighter-policy-view
https://www.straitstimes.com/business/singapore-dollar-hits-new-2024-high-amid-tighter-monetary-policy-view
National Wages Council to convene on Aug 29, seeks views on annual guidelines
Singapore – The National Wages Council (NWC) will convene on Aug 29 to begin deliberations on its annual guidelines on pay and employment issues, and is seeking views from the public. The guidelines, slated for release by November, will cover the period from Dec 1, 2024 to Nov 30, 2025.
https://www.straitstimes.com/singapore/jobs/national-wages-council-to-convene-on-aug-29-seeks-views-on-annual-guidelines
Business News
Far East Orchard H1 profit more than doubles to S$18.2 million on student housing segment growth
Far East Orchard net profit more than doubled to S$18.2 million for the first half of 2024, from S$8.2 million in the year-ago period.
https://www.businesstimes.com.sg/companies-markets/far-east-orchard-h1-profit-more-doubles-s18-2-million-student-housing-segment-growth
Hong Leong Asia expects to benefit from ramp-up in HDB building activity in H2
Hong Leong Asia saw a decline in revenue from its building materials segment in Singapore for the first half of this year. But the industrial conglomerate believes it will benefit from a ramp-up in public housing building activity in H2.
https://www.businesstimes.com.sg/companies-markets/hong-leong-asia-expects-benefit-ramp-hdb-building-activity-h2
Keppel unit enters JV to manage cooling sector in Thailand
Keppel Infrastructure Holdings, through its unit Keppel EaaS in Thailand (KET), has entered into a joint venture (JV) with Combined Heat and Power Producing (CHPP) for the provision of comprehensive energy-as-a-service (EaaS) within the cooling sector in Thailand.
https://www.businesstimes.com.sg/companies-markets/keppel-unit-enters-jv-manage-cooling-sector-thailand
https://www.straitstimes.com/business/keppel-unit-enters-jv-to-manage-cooling-sector-in-thailand
Wing Tai warns half-year loss at associate could more than treble to HK$1.4 billion
Developer Wing Tai Holdings warned on Wednesday (Aug 14) that its Hong Kong associate Wing Tai Properties may report a loss of HK$1.3 billion to HK$1.4 billion (S$215.9 million to S$236.4 million) for the six months to Jun 30, 2024.
https://www.businesstimes.com.sg/companies-markets/reits-property/wing-tai-warns-half-year-loss-associate-could-more-treble-hk1-4-billion
Yanlord Land Group sinks into the red with 486 million yuan H1 loss on write down
Real estate developer Yanlord Land Group reversed into the red with a loss of 486 million yuan (S$89.3 million) for the six months ended Jun 30, compared to net profit of 1.1 billion yuan in the year-ago period.
https://www.businesstimes.com.sg/property/yanlord-land-group-sinks-red-486-million-yuan-h1-loss-write-down
Global Economy & Real Estate
Abu Dhabi’s financial centre says company registrations up 31%
https://www.businesstimes.com.sg/international/global/abu-dhabis-financial-centre-says-company-registrations-31
US consumer prices increase as expected in July
https://www.businesstimes.com.sg/international/us-consumer-prices-increase-expected-july
https://www.straitstimes.com/business/economy/us-consumer-prices-increase-as-expected-in-july
https://www.channelnewsasia.com/business/united-states-consumer-inflation-fed-interest-rates-economy-unemployment-rate-4546156
US mortgage refinancing surges by most since 2020 on lower rates
https://www.businesstimes.com.sg/property/us-mortgage-refinancing-surges-most-2020-lower-rates
Are Chinese nationals really ‘flocking’ to Malaysia over new visa scheme?
https://www.scmp.com/week-asia/economics/article/3274211/are-chinese-nationals-really-flocking-malaysia-over-new-visa-scheme
China’s 48 million unbuilt homes threaten to prolong crisis
https://www.businesstimes.com.sg/property/chinas-48-million-unbuilt-homes-threaten-prolong-crisis
Vanke’s rating cut deeper into junk territory on weak sales
https://www.businesstimes.com.sg/property/vankes-rating-cut-deeper-junk-territory-weak-sales
Some eurozone banks too optimistic in valuing commercial property, ECB finds
https://www.businesstimes.com.sg/companies-markets/banking-finance/some-eurozone-banks-too-optimistic-valuing-commercial-property-ecb-finds
Eurozone employment growth weakens in sign of trouble ahead
https://www.businesstimes.com.sg/international/eurozone-employment-growth-weakens-sign-trouble-ahead
Unloved Hong Kong luxury tower spawns wildly popular debt deal
https://www.businesstimes.com.sg/property/unloved-hong-kong-luxury-tower-spawns-wildly-popular-debt-deal
Hong Kong authorities ‘to provide 10,000 public, private flats at site near Science Park’
https://www.scmp.com/news/hong-kong/society/article/3274500/hong-kong-authorities-provide-10000-public-private-flats-site-near-science-park
Hong Kong’s finance chief asks banks to help out businesses and homeowners
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3274488/hong-kongs-finance-chief-asks-banks-help-out-businesses-and-homeowners
Hong Kong developer Wang On prices Finnie in Quarry Bay at 3-year low, 32% discount
https://www.scmp.com/business/article/3274485/hong-kong-developer-wang-prices-finnie-quarry-bay-3-year-low-32-discount
Hong Kong tycoon Adrian Cheng expects city to become No 1 hub for rich
https://www.businesstimes.com.sg/international/hong-kong-tycoon-adrian-cheng-expects-city-become-no-1-hub-rich
https://www.straitstimes.com/business/hong-kong-tycoon-adrian-cheng-expects-city-to-become-no-1-hub-for-rich
Goldman agrees to sell Ireland’s largest shopping mall to SVP
https://www.businesstimes.com.sg/property/goldman-agrees-sell-irelands-largest-shopping-mall-svp
Unpopular Japan PM Kishida to step down
https://www.businesstimes.com.sg/international/unpopular-japan-pm-kishida-step-down
https://www.channelnewsasia.com/commentary/japan-pm-kishida-election-next-leader-legacy-4545746
Japan’s economy rebounds strongly in Q2 on consumption uptick
https://www.straitstimes.com/business/japan-s-economy-rebounds-strongly-in-q2-on-consumption-uptick
https://www.channelnewsasia.com/east-asia/japans-economy-rebounds-strongly-q2-consumption-uptick-4547286
Japan’s business sentiment in Aug slips on China’s slowdown
https://www.channelnewsasia.com/business/japans-business-sentiment-aug-slips-chinas-slowdown-reuters-poll-4544966
New Zealand cuts rates as slumping economy slows inflation
https://www.businesstimes.com.sg/international/new-zealand-cuts-rates-slumping-economy-slows-inflation
North Korea to open borders to tourism in first since pandemic
https://www.businesstimes.com.sg/international/north-korea-open-borders-tourism-first-pandemic
UK inflation picks up less than expected, boosting rate cut bets
https://www.businesstimes.com.sg/international/uk-inflation-picks-less-expected-boosting-rate-cut-bets
London house prices post first annual rise in more than a year
https://www.businesstimes.com.sg/property/london-house-prices-post-first-annual-rise-more-year
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