SINGAPORE REAL ESTATE
6 tips for tenants looking for a rental place in today’s housing market
Singapore: As housing rents across Singapore reach record levels, some renters are increasingly strapped for options and may be on the lookout for advice to maximise their chances at a good deal.
https://www.channelnewsasia.com/singapore/rent-prices-cheaper-homes-tenants-housing-tips-3073626
S-Reits’ Q3 results mixed as higher financing costs, currency headwinds dampen distribution growth
Singapore-listed real estate investment trusts (S-Reits) have mostly reported topline growth for the third quarter. But higher interest rates and currency headwinds have taken a chunk out of distributable income to unitholders.
https://www.businesstimes.com.sg/companies-markets/s-reits-q3-results-mixed-as-higher-financing-costs-currency-headwinds-dampen
HDB to launch 9,500 BTO flats in November, with 3 new projects under prime location model
Singapore: The Housing and Development Board (HDB) will launch more than 9,500 Build-to-Order (BTO) flats in the coming sales exercise on Nov 23. These include flats in three projects under the Prime Location Public Housing (PLH) model, announced Minister for National Development Desmond Lee on Thursday (Nov 17).
https://www.channelnewsasia.com/singapore/hdb-bto-november-launch-queenstown-kallang-whampoa-prime-location-model-3079686
https://www.straitstimes.com/singapore/housing/hdb-to-launch-9500-bto-flats-on-nov-23-3-projects-under-prime-housing-model
SINGAPORE ECONOMY
Shock 5.6% fall in Singapore exports in October; first decline in two years
Singapore’s non-oil domestic exports (NODX) contracted by a shock 5.6 per cent year on year in October – the first decline since November 2020 – on a high year-ago base, with both electronic and non-electronic exports falling.
https://www.businesstimes.com.sg/government-economy/shock-56-fall-in-singapore-exports-in-october-first-decline-in-two-years
https://www.channelnewsasia.com/business/singapore-exports-drop-october-first-decline-nearly-2-years-3079321
Progressive wages should promote productivity, career progression: MOM, SNEF
Even as businesses raise wages under the progressive wage models (PWMs), they should also increase employee productivity to make the higher costs sustainable and justifiable – this point was made separately by Senior Minister of State for Manpower Zaqy Mohamad and by Singapore National Employers Federation (SNEF) vice-president Tan Hee Teck at a dialogue session on progressive wage moves.
https://www.businesstimes.com.sg/government-economy/progressive-wages-should-promote-productivity-career-progression-mom-snef
Tech talent still in demand in Singapore despite mass layoffs, say analysts
Singapore: Despite mass layoffs at tech firms – from Meta and Twitter to Amazon and Shopee – tech professionals are nonetheless still in demand as companies of all stripes look to develop digital capabilities.
https://www.channelnewsasia.com/business/tech-talent-layoffs-workers-jobs-hiring-meta-twitter-3070876
GLOBAL ECONOMY & GLOBAL REAL ESTATE
Global connections are evolving, not retreating
https://www.businesstimes.com.sg/opinion/global-connections-are-evolving-not-retreating
G20 pledges to calibrate pace of interest rate hikes, limit spillovers
https://www.businesstimes.com.sg/government-economy/g20-pledges-to-calibrate-pace-of-interest-rate-hikes-limit-spillovers
US Federal Reserve official open to slower rate hike in December
https://www.businesstimes.com.sg/government-economy/us-federal-reserve-official-open-to-slower-rate-hike-in-december
US retail sales rise most in 8 months as consumers hold on
https://www.businesstimes.com.sg/consumer/us-retail-sales-rise-most-in-8-months-as-consumers-hold-on
US homebuilder sentiment extends year’s decline as rates rise
https://www.businesstimes.com.sg/real-estate/us-homebuilder-sentiment-extends-years-decline-as-rates-rise
Americans cash in strong dollars to scoop up luxury London homes
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/americans-cash-in-strong-dollars-to-scoop-up-luxury-london-homes
Inflationary pressures in Canada hit their broadest since 1991
https://www.businesstimes.com.sg/government-economy/inflationary-pressures-in-canada-hit-their-broadest-since-1991
UK housing market is getting desperate once again
https://www.businesstimes.com.sg/real-estate/uk-housing-market-is-getting-desperate-once-again
UK budget set to deliver more economic pain
https://www.businesstimes.com.sg/government-economy/uk-budget-set-to-deliver-more-economic-pain
UK inflation hits 41-year high of 11.1% as Hunt readies budget
https://www.businesstimes.com.sg/government-economy/uk-inflation-hits-41-year-high-of-111-as-hunt-readies-budget
https://www.straitstimes.com/business/soaring-energy-prices-drive-uk-inflation-to-41-year-high-at-11
Barclays cuts 2023 global growth forecast, expects weakest growth in four decades
https://www.businesstimes.com.sg/government-economy/barclays-cuts-2023-global-growth-forecast-expects-weakest-growth-in-four-decades
ECB officials may favour slower rate hiking with half-point move
https://www.businesstimes.com.sg/government-economy/ecb-officials-may-favour-slower-rate-hiking-with-half-point-move
Record inflation spells trouble for banks, governments: European Central Bank
https://www.businesstimes.com.sg/government-economy/record-inflation-spells-trouble-for-banks-governments-european-central-bank
Apec leaders in Bangkok to discuss ways to accelerate recovery of global economy
https://www.businesstimes.com.sg/asean-business/apec-leaders-in-bangkok-to-discuss-ways-to-accelerate-recovery-of-global-economy
China banks face 1.5t yuan in losses from property, UBS says
https://www.businesstimes.com.sg/banking-finance/china-banks-face-15t-yuan-in-losses-from-property-ubs-says
China home prices fell most in seven years before sector rescue
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/china-home-prices-fell-most-in-seven-years-before-sector-rescue
China’s fiscal revenue, expenditure pick up growth in October
https://www.businesstimes.com.sg/government-economy/chinas-fiscal-revenue-expenditure-pick-up-growth-in-october
China advisers say they’ll recommend modest growth target for 2023
https://www.businesstimes.com.sg/government-economy/china-advisers-say-theyll-recommend-modest-growth-target-for-2023
China vows to make stabilising growth a higher priority
https://www.straitstimes.com/asia/east-asia/china-vows-to-make-stabilizing-growth-a-higher-priority
Japan trade gap persists as weak yen squeezes purchasing power
https://www.businesstimes.com.sg/government-economy/japan-trade-gap-persists-as-weak-yen-squeezes-purchasing-power
https://www.channelnewsasia.com/business/japan-trade-gap-persists-weak-yen-squeezes-purchasing-power-3079116
South Korean apartment prices drop at steepest pace in two decade
https://www.businesstimes.com.sg/real-estate/south-korean-apartment-prices-drop-at-steepest-pace-in-two-decades