SINGAPORE REAL ESTATE
Market could seeing signs of moderation over past month : Desmond Lee
Singapore’s property market is seeing signs of moderation in the sales of homes over the past month. This could be an early indication of easing in the public and private housing market. Singapore had rolled out several measures to cool the red-hot property market.
https://www.youtube.com/watch?v=dCoON-Jk9fA
Public and private housing markets show early signs of moderation: Desmond Lee
Singapore – Transaction volumes in the public and private housing markets have moderated in the past month following the Sept 30 round of property cooling measures. This could be an early indication of a moderation in momentum in both markets, National Development Minister Desmond Lee said at the Real Estate Developers’ Association of Singapore’s (REDAS) 63rd anniversary dinner on Monday night.
https://www.straitstimes.com/business/public-and-private-housing-markets-moderated-after-sept-30-cooling-measures-desmond-lee
https://www.zaobao.com.sg/realtime/singapore/story20221121-1335636
Paying rent in the interim makes sense for would-be first time home buyers
Traditionally, many young adult Singaporeans lived with their parents until marriage. But more people may now be flying the coop and renting a place away from one’s parents. The PropertyGuru Singapore Consumer Sentiment Study for the second half of 2022 found that 66 per cent of Singaporeans between the ages of 22 to 29 chose to rent instead of buy a home due to the lack of savings.
https://www.businesstimes.com.sg/property/paying-rent-interim-makes-sense-would-be-first-time-home-buyers
Tengah BTO flats to pilot new building tech, shortening wait time to 3.3 years
Singapore – Two upcoming Build-To-Order (BTO) projects in Tengah will pilot construction technologies such as 3D concrete printing to increase productivity and cut material wastage, and this may set the standards for future BTO developments.
https://www.straitstimes.com/singapore/housing/tengah-bto-flats-to-pilot-new-construction-technologies-shortening-waiting-time-to-33-years
https://www.channelnewsasia.com/singapore/2077-hdb-flats-garden-waterfront-tengah-november-bto-launch-waiting-time-33-years-building-technologies-innovations-3089191
https://www.todayonline.com/singapore/more-2000-new-bto-flats-tengah-have-shorter-waiting-time-just-over-three-years-2052221
SINGAPORE ECONOMY
Singapore, South Korea ink digital economy deal to boost online trade, partnerships
Singapore – Consumers and businesses in Singapore and South Korea will benefit from smoother digital activities between both sides in areas such as e-payments and paperless trading, with the signing of a new agreement on Monday.
https://www.straitstimes.com/business/singapore-south-korea-ink-digital-economy-deal-to-boost-online-trade-partnerships
Full China reopening holds out hope for Singapore’s 2023 growth outlook as global demand stutters
Singapore – Battered by inflation and rising rates, global demand may offer little help to Singapore’s export-driven economy in 2023. But if signs that China may be headed for a full reopening some time in early 2023 turn into reality, it could help the Republic withstand the economic headwinds.
https://www.straitstimes.com/business/full-china-reopening-holds-out-hope-for-singapore-s-2023-growth-outlook-as-global-demand-stutters
Orchard Road retailers stock up, widen festive offerings for busier year-end season
Despite recession fears, homegrown retailers along Orchard Road are stocking up in anticipation of higher footfall and spending this festive season as tourists return – though demand may still fall short of pre-pandemic levels.
https://www.businesstimes.com.sg/singapore/orchard-road-retailers-stock-widen-festive-offerings-busier-year-end-season
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US banks are tightening lending standards, raising the risk of a recession
https://www.businesstimes.com.sg/companies-markets/us-banks-are-tightening-lending-standards-raising-risk-recession
Germany to tighten rules for firms highly dependent on China: document
https://www.businesstimes.com.sg/international/germany-tighten-rules-firms-highly-dependent-china-document
Sweden’s housing market rout deepens in showcase for world
https://www.businesstimes.com.sg/property/swedens-housing-market-rout-deepens-showcase-world
Ireland rents surge as much as 24% in fastest gain on record
https://www.businesstimes.com.sg/property/ireland-rents-surge-much-24-fastest-gain-record
China regulator plans to improve balance sheets of ‘good quality’ developers
https://www.businesstimes.com.sg/property/china-regulator-plans-improve-balance-sheets-good-quality-developers
China urges banks to maintain stable property financing
https://www.businesstimes.com.sg/companies-markets/banking-finance/china-urges-banks-maintain-stable-property-financing
Tourism rebound aiding Thailand’s economic recovery
https://www.businesstimes.com.sg/international/asean/tourism-rebound-aiding-thailands-economic-recovery
Indonesia 2023 GDP growth may slow to 4.4%: central bank
https://www.businesstimes.com.sg/international/asean/indonesia-2023-gdp-growth-may-slow-44-central-bank