The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 16 Nov 2023 (Thu)

Singapore Real Estate


Developer sales expected to rebound after 6.5% decline in October
New private home sales remained muted for the month of October with 203 units sold, down 6.5 per cent from the previous month and 35.4 per cent year on year. This figure, which excludes executive condominiums (ECs), represents the lowest monthly sales in the year to date.


Rent surges for luxury apartments in Singapore and London
Luxury rents in some of world’s biggest cities are surging, pushed higher by limited supply, frustrated house hunters and residents who are returning after the pandemic.|



Singapore Economy


Rise of AI to change traditional hierarchy of jobs as ‘better’ cognitive roles get impacted: President Tharman
Singapore — The rise of artificial intelligence (AI) will cause a “positive” shift in the traditional hierarchy of jobs, President Tharman Shanmugaratnam said on Wednesday (Nov 15).


CBDCs can replace cash, improve cross-border payments: IMF chief at Singapore fintech event
Governments and central banks should step up the adoption of central bank digital currencies (CBDCs) to improve cross-border payments, which are currently “expensive, slow and available to few”, said Kristalina Georgieva, managing director of the International Monetary Fund ( IMF).


New one-stop resource for S’pore employers looking to redesign jobs amid disruption, competition
Singapore – Companies in Singapore seeking to redesign their jobs to cope with disruption and competition can tap resources online through a new one-stop resource.


MAS-led Project Guardian adds five more pilots in asset tokenisation
Singapore – Five new pilot programmes on asset tokenisation will be added to a government initiative that explores the use of blockchain in institutional digital assets trading.



Companies’ Brief


Boustead Singapore makes exit offer for Boustead Projects at S$1.18 per share
Boustead Singapore proposed an unconditional cash exit offer for its real estate unit Boustead Projects at S$1.18 per share. This is 23.6 per cent higher than Boustead Projects’ last-traded price of S$0.955 prior to its trading suspension.


What’s behind CDL’s half-hearted offer to buy back a tenth of its preference shares?
Redemption has finally come for the long-suffering holders of City Developments Ltd (CDL) preference shares. Just not the kind they were hoping for when they subscribed for these pref shares nearly 20 years ago.



Views, Reviews Forum and Others


Travellers should not wear items related to Israel-Hamas conflict, says ICA in traffic advisory for land checkpoints
Singapore: Travellers at Singapore’s checkpoints are advised against the public display and wearing of items related to the Israel-Hamas conflict, the Immigration and Checkpoints Authority (ICA) said on Wednesday (Nov 15).


All adult Singaporeans to receive Assurance Package cash payments in December
Singapore – All adult Singaporeans will receive between $200 and $800 in December through the Government’s Assurance Package (AP) to help with the rising cost of living.


ERP rates at 10 locations to fall by $1 during Dec school holidays
Singapore – Electronic Road Pricing (ERP) rates at 10 locations will fall by $1 during the upcoming December school holiday period from Nov 20 to Dec 31.



Global Economy & Real Estate


US retail sales fall slightly in October


US producer prices unexpectedly fall in October


Australian employment rebounds strongly in Oct, jobless rate still up


Canadian home sales post biggest decline in 16 months in October


China, South Korea boast new economic exchanges to deepen collaboration in a time of geopolitical strife


China factory output, retail sales beat expectations in boost to economic recovery


China land sales revenue falls at faster pace, squeezing local governments


China property slump deepens as Beijing mulls over $188 billion of new support


China’s property sales extend declines, weighing on outlook


Rich Chinese shoppers’ appetite slows as confidence falters


Chinese tourists sour on Thailand, Japan amid safety and health concerns: survey


Inflation, higher rates hit eurozone growth outlook


More than 30 million visitors to visit Hong Kong this year, Tourism Board says, but figure less than half record 2018 numbers


Japan’s export growth slows as global downturn risks loom


Japan monthly tourism numbers return to pre-Covid level


Plans for London’s largest development project shrink again


Malaysia’s economic growth likely remained moderate in third quarter: poll


Seoul office market has occupancy of over 98% as demand elsewhere craters


Swedish landlords surprisingly passive, says Handelsbanken


UK inflation slows sharply, boosting BOE and PM Sunak


UK house prices fall for first time in 11 years: ONS


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