The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 19 Sep 2023 (Tue)

Singapore Real Estate


New Prime and Plus flats will have greater fiscal impact as more subsidies are to be disbursed: Desmond Lee
Subsidies for the Prime and Plus flats to be launched from the second half of 2024 are expected to have a higher fiscal impact than the status quo, Minister for National Development Desmond Lee said on Monday (Sep 18).


HDB to launch up to 14,000 two-room flexi BTO flats from 2024 to 2026: Desmond Lee
Singapore – The Housing Board will launch up to 14,000 two-room flexi Build-To-Order (BTO) flats over the next three years to meet demand from singles and the elderly, said National Development Minister Desmond Lee.


Why buy Singapore office, retail assets for yields below borrowing costs?
Over the past 18 months, much attention in Singapore and globally has focused on the rise in interest rates. The US Federal Reserve started hiking interest rates in mid-March 2022 to combat rising inflation. Commercial property in the US has felt the pain of higher interest rates. Capitalisation rates used to value various buildings expanded, causing massive falls in values.


Island View condo launched for en bloc sale at S$575 million
Freehold Island View condominium in Pasir Panjang has been put up for en bloc sale with a reserve price of S$575 million, sole marketing agent PropNex said on Monday (Sep 18). This works out to a land rate of around S$1,623 per square foot per plot ratio (psf ppr), after factoring in the 7 per cent bonus gross floor area allowed for balconies and an estimated land betterment charge of S$178 million.


Hiap Hoe debuts Singapore’s first Aloft Hotel in Balestier
Hiap Hoe announced that it is debuting Singapore’s first Aloft Hotel – Aloft Singapore Novena – and the largest Aloft hotel in the world. The Aloft Hotels brand is part of Marriott Bonvoy’s portfolio of 31 hotel brands.


OK Lim’s Third Avenue GCB for sale at S$30 million
Another Good Class Bungalow (GCB) belonging to Hin Leong’s founder Lim Oon Kuin, better known as OK Lim, has been put up for sale by public tender with an indicative guide price of S$30 million, or about S$2,058 per square foot (psf).





Yellen: No signs US economy in downturn, warns against government shutdown


US homebuilder sentiment drops to five-month low on higher rates


Canada government vows draft law soon to tackle inflation, housing crisis


Cash-squeezed developer Country Garden faces another dollar coupon deadline


ECB to tackle excess liquidity in next stage of inflation fight: sources


German economy to shrink in Q3: Bundesbank


German home building permits plunge as industry calls for stimulus


Hong Kong targets tourists with HK$100 dining vouchers to spice up nighttime economy in campaign costing HK$1 million


Hong Kong concern groups say pilot scheme to help those living in substandard flats pay their rent should be continued


Japan voters dissatisfied with PM’s price policies: poll


Malaysia reviewing windfall tax on palm oil industry


Thai Cabinet approves higher budget for fiscal 2024, aiming to boost economy


Thailand to tighten tax rules on overseas income to aid economy


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