Singapore Real Estate
Time to review planning to raise accommodation supply for senior living: REDAS
Singapore needs to review whether it should have a separate zoning for senior living amid increased demand and demographic shifts, the Real Estate Developers’ Association of Singapore (REDAS) said.
https://www.businesstimes.com.sg/property/time-review-planning-raise-accommodation-supply-senior-living-redas
https://www.edgeprop.sg/property-news/developers-suggest-separate-land-zoning-meet-projected-demand-senior-accommodation-singapore
https://www.zaobao.com.sg/finance/singapore/story20240215-1468335
Slow start to year for developers with lowest January new home sales in 15 years
New private home sales in Singapore doubled last month following the year-end holiday lull. However, analysts noted that volume was low, with sales at their weakest level in 15 years as buyers held back.
https://www.businesstimes.com.sg/property/slow-start-year-developers-lowest-january-new-home-sales-15-years
https://www.straitstimes.com/business/new-private-home-sales-rebound-but-still-weakest-january-showing-since-2009-financial-crisis
https://www.channelnewsasia.com/singapore/singapore-private-home-sales-double-january-resumption-launches-ura-4125511
More young Singaporeans taking loans to buy private homes, despite elevated interest rate environment
Singapore: More young Singaporeans have been taking out home loans in the last few years, with the group accounting for more than a third of people borrowing to finance a property, banks told CNA
https://www.channelnewsasia.com/singapore/more-young-singaporeans-taking-loans-buy-private-homes-despite-elevated-interest-rate-environment-4122221
https://www.edgeprop.sg/property-news/new-private-housing-market-sees-rising-demand-young-singaporeans
Singapore Economy
DPM Wong to deliver Budget 2024 ‘Building Our Shared Future Together’: Get updates from 3.30pm
Singapore – Deputy Prime Minister Lawrence Wong will be delivering Singapore’s 2024 Budget, titled Building Our Shared Future Together, in Parliament on Feb 16. The speech will present the Government’s plans to help citizens meet their full potential, while keeping Singaporeans assured despite a more troubled world, said DPM Wong on Feb 15.
https://www.straitstimes.com/singapore/budget-2024-dpm-wong-to-deliver-budget-titled-building-our-shared-future-together-on-feb-16
https://www.straitstimes.com/singapore/politics/budget-2024-follow-st-s-live-coverage-of-dpm-wong-s-speech
https://www.businesstimes.com.sg/singapore/watch-livestream-budget-2024-statement-feb-16
Indonesia, Singapore sign outline pledge on carbon storage
Singapore has become the first country to sign a letter of intent (LOI) with Indonesia on cross-border collaboration on capture and storage of carbon dioxide (CCS) following a new Indonesian law to allow it, the governments said on Thursday (Feb 15).
https://www.channelnewsasia.com/sustainability/indonesia-singapore-sign-letter-intent-carbon-capture-storage-4125991
Global Economy & Real Estate
Oil demand growth slowing as non-Opec supply expands, says IEA
https://www.businesstimes.com.sg/international/oil-demand-growth-slowing-non-opec-supply-expands-says-iea
US retail sales fall sharply in January; weekly jobless claims decline
https://www.businesstimes.com.sg/international/us-retail-sales-fall-sharply-january-weekly-jobless-claims-decline
https://www.straitstimes.com/business/economy/us-retail-sales-slump-moe-than-expected-in-january
US import prices post largest gain in nearly two years in January
https://www.businesstimes.com.sg/international/us-import-prices-post-argest-gain-nearly-two-years-january
US factory production declines for first time in three months
https://www.businesstimes.com.sg/international/us-factory-production-declines-first-time-three-months
US homebuilder sentiment climbed to six-month high in February
https://www.businesstimes.com.sg/property/us-homebuilder-sentiment-climbed-six-month-high-february
Banks’ real estate losses will be hyperlocal
https://www.businesstimes.com.sg/international/global/banks-real-estate-losses-will-be-hyperlocal
Blackstone aborts Canary Wharf sale as gloom hangs over area
https://www.businesstimes.com.sg/property/blackstone-aborts-canary-wharf-sale-gloom-hangs-over-area
Australian unemployment hits 2-year high, currency drops
https://www.straitstimes.com/business/australian-unemployment-hits-2-year-high-currency-drops
China set to bide time on rate cut until yuan, data stabilise
https://www.businesstimes.com.sg/international/china-set-bide-time-rate-cut-until-yuan-data-stabilise
As Chinese scramble to save money, ‘everyone realises winter has come’, and they’re trying to get out of the cold
https://www.scmp.com/economy/china-economy/article/3252090/chinese-scramble-save-money-everyone-realises-winter-has-come-and-theyre-trying-get-out-cold
Chinese property developer CIFI to offload Australian assets at a loss in bid to inject cash as credit dries up
https://www.scmp.com/business/article/3252030/chinese-property-developer-cifi-offload-australian-assets-loss-bid-inject-cash-credit-dries
EU cuts eurozone inflation, growth forecasts for 2024
https://www.businesstimes.com.sg/international/eu-cuts-eurozone-inflation-growth-forecasts-2024
Rents start to dip for luxury apartments in New York and Hong Kong
https://www.businesstimes.com.sg/property/rents-start-dip-luxury-apartments-new-york-and-hong-kong
https://www.scmp.com/business/article/3252071/hong-kong-luxury-rents-dropped-fourth-quarter-rose-slightly-2023-good-9th-spot-knight-frank-global
Hong Kong residents, businesses slowly waking up to Greater Bay Area’s potential – but more needs to be done, say experts and politicians
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3251842/hong-kong-residents-businesses-slowly-waking-greater-bay-areas-potential-more-needs-be-done-say
Japan unexpectedly slips into recession, Germany now world’s third-biggest economy
https://www.businesstimes.com.sg/international/global/japan-unexpectedly-slips-recession-germany-now-worlds-third-biggest-economy
https://www.channelnewsasia.com/business/japan-economy-technical-recession-germany-third-biggest-economy-4124986
Layoffs show that tech jobs aren’t sacred anymore
https://www.straitstimes.com/business/layoffs-show-that-tech-jobs-aren-t-sacred-anymore
UK fell into technical recession in H2 2023
https://www.businesstimes.com.sg/international/uk-fell-technical-recession-h2-2023
https://www.straitstimes.com/business/uk-economy-fell-into-recession-in-second-half-of-2023
https://www.channelnewsasia.com/business/britain-recession-economy-data-inflation-cost-living-crisis-gdp-4125656
https://www.theedgesingapore.com/news/global-economy/uk-fell-recession-after-economy-shrank-03-last-quarter
Homes outside London increasingly going for more than £1 million
https://www.businesstimes.com.sg/property/homes-outside-london-increasingly-going-more-ps1-million
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