Singapore Real Estate
Strong start to 2025 new private home sales as new launches hit market
New home sales, excluding executive condominiums (ECs), jumped more than fivefold to 1,083 units from just 203 units in December 2024, according to data released by the Urban Redevelopment Authority on Feb 17.
Is S$2.5 million an affordable price tag for a new leasehold 3-bedroom condo?
Judging by the frenzied buying at recent major new condo launches here, buyers are undeterred by stiff prices. Possibly, many people fear missing out as they believe that prices will rise further.
Kallang/Whampoa, Queenstown BTO projects most popular in Feb launch, but overall demand muted
Four-room flats in city-fringe estates Kallang/Whampoa and Queenstown were the most popular among first-timer families in the latest Build-To-Order (BTO) sales exercise.
https://www.zaobao.com.sg/news/singapore/story20250217-5890796
Singapore News
Budget 2025: Get live updates on PM Lawrence Wong’s speech on Feb 18
Prime Minister Lawrence Wong, who is also Finance Minister, will deliver Singapore’s Budget 2025 statement at 3.30pm on Feb 18 in Parliament. Titled Onward Together For A Better Tomorrow, this year’s Budget will be one that involves all Singaporeans, said PM Wong in a Facebook post on Feb 17.
https://www.zaobao.com.sg/news/singapore/story20250217-5889442
Singapore’s 2035 climate targets feasible, but govt support and geopolitical stability key: Experts
Energy experts and companies said Singapore’s 2035 climate targets are feasible to achieve, but substantially slashing planet-warming emissions will not be easy given the geopolitical uncertainties.
Business News
Books Kinokuniya flagship store in Takashimaya to downsize, space to be partly taken over by new cafe
Books Kinokuniya’s flagship store in Takashimaya Shopping Centre in Orchard Road will have its size reduced, with the vacated space taken over by, among others, a new cafe. The downsizing comes after rental negotiations with Ngee Ann City owner Toshin Development.
MBS gets record S$12 billion loan; DBS, OCBC, UOB, Maybank coordinating facility
Marina Bay Sands has obtained a S$12 billion multi-tranche loan to fund a planned expansion of its casino resort in Singapore, according to a source familiar with the matter, marking the largest such financing in the city state ever.
PropertyGuru lays off 174 employees, closes 3 units
Property technology firm PropertyGuru on Feb 13 cut 174 jobs and shut three business units as it trims operations to focus on its online marketplace business. The three units are Sendhelper, data and software solutions and PropertyGuru Finance.
https://www.straitstimes.com/business/propertyguru-lays-off-12-of-staff-closes-3-units
Views, Reviews, Forum and Others
Singaporean’s home address illegally changed by scammers via ICA service, triggering banking nightmare
A rude shock followed by worries and frustration – 2025 has so far been an emotional rollercoaster for Mr Raymond Tan after he discovered that his home address registered with the authorities was changed without his knowledge.
https://www.channelnewsasia.com/singapore/ica-home-address-changed-singpass-scammers-4938131
More than $230,000 lost to PDPC officer impersonation scam; at least 4 cases reported
At least $231,000 has been lost to fraudsters impersonating officers from the Personal Data Protection Commission (PDPC) since January, with at least four cases reported.
Global Economy & Real Estate
Beijing steps up financial ‘master plan’ with major asset reshuffle
China’s middle class feels the squeeze as property slump hits pocketbooks
Dubai developers score red-hot profits from global homebuyers
https://www.businesstimes.com.sg/property/dubai-developers-score-red-hot-profits-global-homebuyers
ECB watchers are now forecasting even lower rates for 2026
Hong Kong to become Muslim-friendly city for Asean businesses, tourists: John Lee
Task force to look into cutting construction costs for Hong Kong public flats
Hong Kong to open applications for 5,060 temporary public flats next week
Hong Kong developer NWD to launch second State Pavilia offering after weekend sell-out
Indonesia’s trade surplus hits US$3.5 billion in January, but trade tensions threaten outlook
Japan braces for BOJ to lift rates sooner and higher
https://www.channelnewsasia.com/business/japan-braces-boj-lift-rates-sooner-and-higher-4942676
RBNZ set to deliver third half-point rate cut to revive economy
New Zealand sees record number of departures amid weak economy
Thai economic growth in 2024 disappoints as trade risks loom
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.