Singapore Real Estate
Property tax changes could ease home owners’ burden but developers see limited relief
Singapore – Several property-related policy adjustments announced in Budget 2024 will help bring relief to many private residential home owners – who saw their property tax bills balloon this year – and single Singaporean seniors wanting to right-size their homes and shore up retirement adequacy.
https://www.straitstimes.com/business/property-tax-changes-could-ease-home-owners-burden-but-developers-see-limited-relief
Lower property tax helps, but retirees must pay heed to costs of owning private homes
Some older Singaporeans are asset-rich and cash-flow-poor. A local retiree, who is over 60 years old, could be owning a private home bought years back that has since appreciated significantly in price.
https://www.businesstimes.com.sg/opinion-features/lower-property-tax-helps-retirees-must-pay-heed-costs-owning-private-homes
https://www.channelnewsasia.com/commentary/budget-2024-property-tax-annual-value-owner-occupied-4130926
TID launches Lentoria at prices from S$1,965 psf
Developer TID began previews of its Lentoria project at Lentor Hills on Saturday (Feb 17), with prices starting from S$1,965 per square foot (psf). Located in District 26, the 99-year leasehold Lentoria will house 267 units. It is the fourth new launch in Lentor, out of six Government Land Sales (GLS) sites sold so far.
https://www.businesstimes.com.sg/property/tid-launches-lentoria-prices-s1965-psf
https://www.edgeprop.sg/property-news/lentoria-preview-draws-2000-visitors
The Singapore Edition, newest hotel on Orchard Road, opens its doors
The Singapore Edition officially opened its doors on Sunday (Feb 18) and is the latest new hotel in Singapore’s most famous shopping district, Orchard Road. The hotel, located on Cuscaden Road, is a redevelopment of the former Boulevard Hotel by a consortium comprising City Developments Ltd (CDL), Hong Leong Holdings and Lea Investments.
https://www.businesstimes.com.sg/property/singapore-edition-newest-hotel-orchard-road-opens-its-doors
962 Punggol flats with wait of about 3 years to be offered in Feb BTO launch
Singapore – More than 960 Build-To-Order (BTO) flats in Punggol with a waiting time of three years and one month will be launched in February. The Matilda Riverside project, located beside Punggol Reservoir in Sumang Lane, will be the first BTO development to be launched in Punggol since 2019, the Housing Board said on Feb 18.
https://www.straitstimes.com/singapore/housing/962-punggol-flats-with-wait-of-about-3-years-to-be-offered-in-feb-bto-launch
https://www.todayonline.com/singapore/nearly-1000-punggol-bto-flats-be-offered-february-hdb-sales-exercise-2365201
https://www.channelnewsasia.com/singapore/hdb-sales-exercise-february-2024-punggol-matilda-riverside-bto-launched-4128836
Singapore Economy & Budget 2024
Budget 2024 relieves worries about cost of living, sets stronger foundation for country’s future: PM Lee
Singapore – Apart from relieving Singaporeans’ worries about rising costs of living, Budget 2024 also sets a stronger foundation for the country as it enters its next phase of development, said Prime Minister Lee Hsien Loong on Feb 17.
https://www.straitstimes.com/singapore/budget-2024-relieves-worries-about-cost-of-living-sets-foundation-for-country-s-future-pm-lee
Economists applaud Spore’s 2024 Budget, but some concerned about sustainability of cash handouts
Singapore – Budget 2024 is an impressive attempt by the Government to gear up businesses and individuals for an economy that may gradually change beyond recognition because of developments such as artificial intelligence (AI), climate change and population ageing, said panellists at a discussion on Feb 17 organised by the Economic Society of Singapore (ESS).
https://www.straitstimes.com/business/economists-applaud-spore-s-budget-2024-but-some-concerned-about-sustainability-of-cash-handouts
Everything Everywhere All At Once (for almost Everyone)
The 2024 Singapore Budget can be best described with the title of a recent award-winning movie called “Everything Everywhere All At Once” but certainly without the chaos. Deputy Prime Minister Lawrence Wong’s “Ren Ri” or “Everybody’s Birthday” (which falls on the seventh day of the lunar new year) present unveiled a milestone budget that helps to address everything about the numerous challenges ahead brought about by cost-of-living increases, threats to jobs, wars and global uncertainty, international tax challenges and climate change, among others.
https://www.businesstimes.com.sg/opinion-features/everything-everywhere-all-once-almost-everyone
Commentary: Crucial to secure Singapore’s main revenue source, given little leeway for more GST or wealth taxes
If last year’s Budget was a Valentine’s Day present, Budget 2024 could perhaps be called a generous birthday gift, falling as it did on the auspicious seventh day of the Chinese New Year known as Renri or everyman’s birthday.
https://www.channelnewsasia.com/commentary/tax-beps-cost-doing-business-singapore-gst-wealth-4132321
Why Budget 2024 is pro-business as it is pro-social
THE initial impression of Budget 2024, delivered on Friday (Feb 16) by Finance Minister Lawrence Wong, is that it is a pro-social fiscal policy.
https://www.businesstimes.com.sg/opinion-features/why-budget-2024-pro-business-it-pro-social
Singapore 4.0: Paving a decisive way forward
Businesses and economies are compelled to refresh their playbook as they navigate today’s myriad disruptions. This ranges from macroeconomic volatility, escalating geopolitical tensions and international tax upheavals, to the climate crisis and the emergence of new technologies.
https://www.businesstimes.com.sg/opinion-features/singapore-40-paving-decisive-way-forward
Global Economy & Real Estate
Why is my ice cream shrinking? Inflation by stealth
https://www.straitstimes.com/business/why-is-my-ice-cream-shrinking-inflation-by-stealth
What is behind the US economy’s surprising strength?
https://www.straitstimes.com/business/economy/what-is-behind-the-us-economys-surprising-strength
China leaves key rate steady as yuan limits manoeuvring room
https://www.businesstimes.com.sg/international/china-leaves-key-rate-steady-yuan-limits-manoeuvring-room
China’s economic powerhouses target top-tier industrial tech in national ‘high-quality growth’ drive
https://www.scmp.com/economy/china-economy/article/3252339/chinas-economic-powerhouses-target-top-tier-industrial-tech-national-high-quality-growth-drive
China’s travel spending during Chinese New Year holidays beats pre-Covid levels
https://www.businesstimes.com.sg/international/chinas-travel-spending-during-chinese-new-year-holidays-beats-pre-covid-levels
https://www.channelnewsasia.com/asia/chinas-travel-spending-during-lunar-new-year-holidays-beats-pre-covid-levels-4132911
https://www.theedgesingapore.com/news/china-focus/chinas-new-year-travel-and-spending-top-pre-covid-levels
https://www.scmp.com/economy/china-economy/article/3252345/chinas-lunar-new-year-holidaymakers-head-overseas-release-pent-post-covid-demand-travel
Dubai’s golden visas are helping city defy global office slump
https://www.businesstimes.com.sg/property/dubais-golden-visas-are-helping-city-defy-global-office-slump
France cuts 2024 growth forecast as outlook darkens
https://www.businesstimes.com.sg/international/france-cuts-2024-growth-forecast-outlook-darkens
Hong Kong eyes Southeast Asian, Middle Eastern business ties in next chapter of belt and road plan
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3252271/hong-kong-eyes-southeast-asian-middle-eastern-business-ties-next-chapter-belt-and-road-plan
GBA@5: HSBC, Bank of East Asia among Hong Kong lenders cranking up Qianhai presence with eye on growth opportunities
https://www.scmp.com/business/banking-finance/article/3252160/gba5-hsbc-bank-east-asia-among-hong-kong-lenders-cranking-qianhai-presence-eye-growth-opportunities
GBA at 5: how Hong Kong has become the investment and insurance hub of Greater Bay Area
https://www.scmp.com/business/banking-finance/article/3252053/gba5-how-hong-kong-has-become-investment-and-insurance-hub-greater-bay-area
Can the Greater Bay Area lure foreign investors? Beijing wants Hong Kong to draw international capital into region, but global firms still hazy about benefits
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3252240/can-greater-bay-area-lure-foreign-investors-beijing-wants-hong-kong-draw-international-capital
Axe all Hong Kong’s property cooling measures to boost sluggish market, political heavyweights and economists tell authorities ahead of budget
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3252284/axe-all-hong-kongs-property-cooling-measures-boost-sluggish-market-political-heavyweights-and
Hong Kong builders respond to demand for sustainable construction methods as city pursues carbon neutrality
https://www.scmp.com/business/companies/article/3252198/hong-kong-builders-respond-demand-sustainable-construction-methods-city-pursues-carbon-neutrality
Hong Kong, mainland China authorities in talks to allow more visitors from tier 2 and 3 cities, top official says
https://www.scmp.com/news/hong-kong/society/article/3252283/hong-kong-mainland-china-authorities-talks-travel-scheme-expansion-allow-more-visitors-tier-2-and-3
Japan December core machinery orders rise 2.7% month/month
https://www.channelnewsasia.com/business/japan-december-core-machinery-orders-rise-27-month-month-4133171
https://www.businesstimes.com.sg/international/japans-december-core-machinery-orders-rise-27-monthmonth
Sydney home auctions surge as rate-cut expectations drive buyers
https://www.businesstimes.com.sg/property/sydney-home-auctions-surge-rate-cut-expectations-drive-buyers
UK property prices show first annual rise since August: Rightmove
https://www.businesstimes.com.sg/property/uk-property-prices-show-first-annual-rise-august-rightmove
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