The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 2 Dec 2022 (Fri)



Property tax to increase for most homes in 2023; Government will provide one-off rebate
Singapore: Property taxes will go up in 2023, following a yearly review of the properties’ annual values which is used to compute the tax. The revision will affect both Housing Board (HDB) flats and private properties.


Developer of new project on Cecil Street switches strategy to strata sales
The developers of the new 20-storey freehold office project that will come up on the PIL Building site along Cecil Street have decided on strata sales of the development. The TE Capital Partners and LaSalle Investment Management tie-up behind the Solitaire On Cecil project was earlier contemplating a forward sale of the entire asset.


Freehold building in Farrer Park up for sale with S$16.88m guide price
A six-storey freehold building in Farrer Park has been put up for sale via expression of interest with a guide price of S$16.88 million. This translates to around S$1,981 per square foot (psf) on a total gross floor area of 8,522 square feet (sq ft), exclusive marketing agent CBRE said in a press statement on Thursday (Dec 1).


20-24% of first-time BTO applicants in mature estates successful on first try: Desmond Lee
Singapore – Between 20 per cent and 24 per cent of first-time applicants managed to get a Build-To-Order (BTO) flat in a mature estate on their first try in the past three years, said National Development Minister Desmond Lee.


First-time BTO applicants in November HDB launch have good chance of booking Queenstown flats
Singapore – First-time applicants for the Queenstown Build-To-Order (BTO) projects in the November launch stand a good chance of being invited to select a flat, while those who opted for the Kallang/Whampoa BTO project face stiff competition.




Tech sector believes recent layoffs could stem ‘frothy’ asking salaries, ‘may not be a bad thing’: Tan See Leng
Singapore — Asking salaries in the tech sector will likely decline in the wake of a spate of retrenchments, and this will lead to a more sustainable growth of the sector, Manpower Minister Tan See Leng said, adding that this is based on feedback he has received from industry players


Singapore’s resident labour force sees more improvements in 2022, employment up for second year in a row: MOM
Singapore: Singapore’s resident labour force continued to see improvements in 2022, with the employment rate rising for the second consecutive year, the Ministry of Manpower (MOM) said in the advance release of its annual Labour Force in Singapore report on Thursday (Dec 1).


Singapore residents’ real median income growth rises to 2.1% in 2022
Real median income growth rose to 2.1 per cent in 2022, as strong nominal income growth outstripped inflation, said the Ministry of Manpower (MOM) in the advance release of its annual Labour Force in Singapore report on Thursday (Dec 1).


With ‘consistently high cost of living’, Singapore ranked world’s most expensive city for 8th time in a decade: Survey
Singapore — Singapore has tied with America’s New York to share the unwanted title of being the most expensive city to live in, the latest Worldwide Cost of Living index showed. Results of the survey by the Economist Intelligence Unit (EIU), which were released on Thursday (Dec 1), showed that a combination of high incomes and a strong exchange rate propelled both financial hubs to the top of the list.




Fewer workplace deaths and major injuries in Q3 2022, but safety council urges greater vigilance
Singapore – There were fewer workplace deaths and major injuries in the third quarter of 2022, but the Workplace Safety and Health (WSH) Council warned that greater vigilance is needed to ensure this improvement is sustained in the coming months.


Commentary: People think they don’t need a fourth COVID-19 shot. They’re wrong
Singapore: The fourth COVID-19 jab has been made available for groups of people in Singapore since April, with the updated bivalent mRNA vaccine available to those aged 18 and above since Nov 7.




IMF chief warns of bigger chance world growth slows below 2%

US Fed’s preferred inflation gauge slowed in October

US rents fall for third straight month in ‘sharper’ pullback

US pending home sales fall 4.6 per cent in October

US consumer price data offers hope that rate hikes are working

Australia’s housing market downturn extends, while decelerating

Australia and New Zealand housing tumble down under as soaring borrowing costs take toll

Asia’s factory activity shrinks as China lockdown impact widens

New home prices in China fall further in November: survey

Sunac China received 12 billion yuan in loans as state steps up support

Growing interest in alternative investments in Sabah, Johor and Penang: survey

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