Singapore Real Estate / Built Environment
Singapore’s new home sales more than treble in November as six projects hit the market
Singapore’s private home market burst back to life in November, on the back of consecutive project launches, strong pent-up demand, and rising consumer sentiment.
https://www.zaobao.com.sg/realtime/singapore/story20241216-5601321
More property cooling measures? Locals buying their first homes could be hit
More than 13 years ago, the Additional Buyer’s Stamp Duty (ABSD) was introduced for the purchase of homes in Singapore. Over time, ABSD rates have generally increased.
Singapore Economy / News
Singapore key exports see surprise rebound in November, up 3.4% on electronics
Singapore – Singapore’s key exports enjoyed a rebound in November, beating analyst expectations, as electronic shipments resumed a double-digit expansion. Non-oil domestic exports (Nodx) grew 3.4 per cent from a year ago, reversing a revised 4.7 per cent drop in October, according to figures released by Enterprise Singapore (EnterpriseSG) on Dec 17.
https://www.businesstimes.com.sg/singapore/singapore-key-exports-rebound-november-buoyed-electronics
https://www.zaobao.com.sg/realtime/singapore/story20241217-5605143
Eight CPF-related changes to take place in 2025
The Central Provident Fund (CPF) Board is implementing several changes next year to ensure the CPF system remains relevant, and to help members build up their savings.
https://www.businesstimes.com.sg/singapore/eight-cpf-related-changes-take-place-2025
https://www.zaobao.com.sg/realtime/singapore/story20241216-5601282
Singapore business confidence remains mixed for Q1 2025
Local businesses in Singapore maintained cautious optimism for the first quarter of 2025, despite a moderate rise in the Singapore Commercial Credit Bureau’s (SCCB) Business Optimism Index (BOI).
https://www.businesstimes.com.sg/singapore/singapore-business-confidence-remains-mixed-q1-2025
https://www.zaobao.com.sg/realtime/singapore/story20241216-5600102
Salary increments for Singapore employees in 2025 expected to range from 2% to 5%: HR firms
Employees in Singapore could see salary increments ranging from 2 per cent to 5 per cent on average in the coming year, though the outlook varies across sectors, according to recent salary surveys by human resources (HR) firms. HR experts said companies are adopting a cautious approach to salary increment budgets in 2025.
Business News
Hong Leong Asia appoints MOM perm sec Ng Chee Khern as board member
Industrial conglomerate Hong Leong Asia has appointed Ng Chee Khern, the permanent secretary at the Ministry of Manpower, as a member of its board.
Mapletree Logistics Trust proposes to sell Singapore warehouse for S$12.3 million
The trustee of Mapletree Logistics Trust is proposing to sell a warehouse and office building at 1 Genting Lane in Singapore for S$12.3 million.
https://www.zaobao.com.sg/realtime/singapore/story20241216-5603846
Perennial to operate China’s first wholly foreign-owned tertiary general hospital in Tianjin
Integrated real estate and healthcare player Perennial Holdings will open and operate China’s first entirely foreign-owned hospital in Tianjin, the group announced on Monday (Dec 16).
Wee Hur exits student accommodation business for A$1.6 billion
Property company Wee Hur has confirmed earlier news reports that it would be selling its Australian-focused purpose-built student accommodation (PBSA) portfolio for A$1.6 billion (S$1.4 billion).
https://www.zaobao.com.sg/realtime/singapore/story20241216-5603693
Global Economy & Real Estate
Trump touts US$100 billion SoftBank investment, vowing 100,000 jobs
Fed chief Jerome Powell appears headed for another collision with Trump
US factory activity slumps further in December as tariffs loom
Australian consumers fret over the economy in December: survey
China to boost direct fiscal support to consumers
https://www.businesstimes.com.sg/international/china-boost-direct-fiscal-support-consumers
China’s unexpected retail slowdown shows urgency to boost demand
China’s new home prices fall at slowest pace in 17 months in November
Decline in eurozone business activity eases in December, PMI shows
ECB’s Lagarde flags more rate cuts if inflation continues to ease
Hong Kong Urban Renewal Authority to sign US$1.7 billion loan
https://www.businesstimes.com.sg/property/hong-kong-urban-renewal-authority-sign-us1-7-billion-loan
Hong Kong to ramp up crackdown on fire hazards in high-risk old buildings
Indonesia’s November exports up 9.1% y/y, more than expected
New Zealand expects to post budget deficits over five-year forecast period
South Korea braces for hit to tourism amid ongoing political turmoil
Taiwan set to hold rates steady with strong economy, lingering inflation: Reuters poll
Thai finance minister seeks further rate cut
https://www.businesstimes.com.sg/international/thai-finance-minister-seeks-further-rate-cut
https://www.channelnewsasia.com/business/thai-finance-minister-seeks-further-rate-cut-4808816
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