The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 17 Feb 2023 (Fri)

Singapore Real Estate


Chip Eng Seng enters into agreements with its JV partners to redevelop Peace Centre and Peace Mansion
Chip Eng Seng has entered into several agreements with Sing-Haiyi Crystal Pte. Ltd. and Ultra Infinity Pte. Ltd., as well as Sophia Commercial Pte. Ltd. to redevelop Peace Centre and Peace Mansion.


Sim Lian prices Dairy Farm condo launch from S$998,000
The Sim Lian group will start previews of its Upper Bukit Timah area project, The Botany at Dairy Farm, on Feb 18, with prices starting at S$998,000. The 99-year leasehold condominium has 386 units in five blocks on a site of about 168,597 square feet (sq ft).


Government mindful of potential impact of increasing housing grants in buoyant resale market: MND
Singapore: The Government is “mindful” of the potential impact of increasing Central Provident Fund (CPF) housing grants in a buoyant resale market, the Ministry of National Development (MND) said on Thursday (Feb 16).


Some 10,000 first-timer households will benefit from increased housing grants in first year: MND
The increase in Central Provident Fund (CPF) Housing Grants announced in Budget 2023 will benefit over 10,000 first-time homebuyers in its first year of implementation, said the Ministry of National Development (MND) on Thursday (Feb 16).



Singapore Economy


Singapore carves digital trade deal with Europe
Singapore is now in discussion with the European Free Trade Association (EFTA) on a digital economy agreement. This was announced over video conference on Thursday (Feb 16) by Minister-in-charge of Trade Relations S Iswaran; Liechtenstein’s Minister for Foreign Affairs, Education and Sport and the EFTA council chair Dominique Hasler; Swiss Federal Councillor Guy Parmelin; Geneva’s ambassadors and permanent representatives to Iceland and Norway, Einar Gunnarsson and Petter Olberg, respectively.


Singapore exports slide deepens in January, worse-than-expected 25% fall is fourth straight month of decline
Singapore’s non-oil domestic exports (NODX) contracted for the fourth consecutive month in January, bogged down by declines in both electronics and non-electronics, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Feb 17).


Singapore tourist arrivals grow month on month to 931,530 in January
Singapore’s international visitor arrivals rose to 931,530 in January, setting a new record since the onset of the pandemic, according to the latest figures from the Singapore Tourism Board on Friday (Feb 17).


Singapore finance task force proposes pathway for high-emitters to raise sustainable capital
The Green Finance Industry Taskforce (GFIT) has proposed a path in Singapore’s green and transition taxonomy for high-emissions industrial activities to qualify for sustainable financing, despite challenges in setting thresholds.


SMEs show more interest in GST registration, but applications may rise only later this year
Small and medium-sized enterprises (SMEs) are showing more interest in voluntary goods and services tax (GST) registration, accounting companies told The Business Times, though actual applications have yet to rise significantly. Companies may be reluctant due to compliance costs and concerns about raising their prices, said observers, but may find it necessary to do so as business expenses go up.


Explainer: Is the Govt too conservative in its budget projections? And is that actually good or bad?
Singapore — Apart from the headline-grabbing Budget 2023 measures, it has not gone unnoticed that the Government’s financial numbers have tallied with a general trend over the past decade: Its budget deficits are usually not as large as predicted, while surpluses are usually bigger than expected.



Global Economy & Real Estate


US housing starts drop for a fifth month, longest streak since 2009


US housing market is overvalued by billions due to ignored flood risk


US weekly jobless claims fall; monthly producer prices rebound


US wholesale price inflation rebounds on goods prices


Sticky inflation prompts EBRD to trim 2023 growth outlook for its region


National Australia Bank says rates will soften economy, house prices as profit jumps


Analysis: Why China’s reopening isn’t inflationary



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