SINGAPORE REAL ESTATE
Pasir Panjang redevelopment site sold at S$1,128 psf
The tender for 303/305 Pasir Panjang Road has been awarded to luxury home developer Silver Edge Investment Holdings at S$475,000 above its S$18 million guide price, announced the property’s sole marketing agent Knight Frank on Thursday (Oct 20).
https://www.businesstimes.com.sg/real-estate/pasir-panjang-redevelopment-site-sold-at-s1128-psf
It’s live and let live for Singapore’s ever-shrinking 3-bedroom condos
Three-bedroom non-landed homes, typically targeted at families, are getting smaller. Potential buyers hoping for government intervention had better vote with their wallets instead. Data collated for The Business Times (BT) by PropertyGuru shows the median floor area of three-bedder condominium units falling over four decades.
https://www.businesstimes.com.sg/real-estate/its-live-and-let-live-for-singapores-ever-shrinking-3-bedroom-condos
Shoebox condo prices in central area could rise after new rules to limit units, say analysts
Singapore: Prices of smaller condominium units located in Singapore’s central area could appreciate more compared to larger units in the next few years, following new rules to limit such shoebox apartments, according to analysts.
https://www.channelnewsasia.com/singapore/shoebox-condo-private-central-ura-70sqm-prices-3017876
Wait-out period waived for 220 private home owners to buy HDB resale flats: Desmond Lee
Singapore – Some 220 private property downgraders have been successful in their appeals against the 15-month wait-out period to buy a Housing Board resale flat, said National Development Minister Desmond Lee.
https://www.straitstimes.com/singapore/politics/wait-out-period-waived-for-220-private-home-owners-to-buy-hdb-resale-flats-desmond-lee
https://www.channelnewsasia.com/singapore/property-cooling-measures-15-month-wait-out-hdb-bto-3017046
SINGAPORE ECONOMY
Singapore semiconductor sector may be hit by US export controls on China: MTI
While recent US export controls are aimed at restricting China’s access to semiconductor technologies, Singapore’s semiconductor sector could still be impacted due to highly complex and globalised supply chains, said Minister of State for Trade and Industry Alvin Tan in Parliament on Thursday (Oct 20).
https://www.businesstimes.com.sg/government-economy/singapore-semiconductor-sector-may-be-hit-by-us-export-controls-on-china-mti
Most Singapore households able to continue servicing mortgages amid rising interest rates
Most Singapore households are able to continue servicing mortgages for their homes in the face of rising interest rates, ministers told Parliament on Thursday (Oct 10). Alvin Tan, Minister of State for Trade and Industry, said household debt as a whole remained healthy, and stress tests conducted by the Monetary Authority of Singapore (MAS) suggest that most households are able to service their home loans, while “a relatively small portion may be more constrained”.
https://www.businesstimes.com.sg/real-estate/most-singapore-households-able-to-continue-servicing-mortgages-amid-rising-interest
https://www.straitstimes.com/singapore/politics/1-in-3-home-owners-with-outstanding-mortgages-affected-by-rising-interest-rates-alvin-tan
https://www.channelnewsasia.com/singapore/singapores-household-debt-situation-healthy-low-non-performing-mortgages-3017136
Proportion of non-performing loans in corporate sector falls despite rising interest rates: Alvin Tan
The ratio of non-performing loans (NPL) in the corporate sector and has fallen over the past year, even as interest rates have risen, Minister of State for Trade and Industry Alvin Tan said on Thursday (Oct 20).
https://www.businesstimes.com.sg/government-economy/proportion-of-non-performing-loans-in-corporate-sector-falls-despite-rising
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US existing home sales slide again in September
https://www.businesstimes.com.sg/real-estate/us-existing-home-sales-slide-again-in-september
Times Square may get one of the few spectacles it lacks: a casino
https://www.businesstimes.com.sg/real-estate/times-square-may-get-one-of-the-few-spectacles-it-lacks-a-casino
UK mortgage rates continue to increase amid political chaos
https://www.businesstimes.com.sg/real-estate/uk-mortgage-rates-continue-to-increase-amid-political-chaos
UK consumer confidence lingered near historic lows in October
https://www.businesstimes.com.sg/government-economy/uk-consumer-confidence-lingered-near-historic-lows-in-october
Sweden’s home price slump worsens to reach double digits
https://www.businesstimes.com.sg/real-estate/swedens-home-price-slump-worsens-to-reach-double-digits
Hong Kong’s July-September unemployment eases to 3.9%
https://www.businesstimes.com.sg/government-economy/hong-kongs-july-september-unemployment-eases-to-39
Japan’s inflation hits 8-year high in test of BOJ’s dovish policy
https://www.channelnewsasia.com/business/japans-inflation-hits-8-year-high-test-bojs-dovish-policy-3018496
https://www.businesstimes.com.sg/government-economy/japan-inflation-at-highest-level-since-2014
https://www.straitstimes.com/business/japan-inflation-hits-3-for-first-time-since-1991-excluding-tax-hike-impacts
South Korea central bank says private consumption to weaken, but not steeply
https://www.businesstimes.com.sg/government-economy/south-korea-central-bank-says-private-consumption-to-weaken-but-not-steeply