SINGAPORE REAL ESTATE
AMO Residence sells over 98% of its 372 units on launch weekend
AMO Residence, the year’s first major new launch in the Outside Central Region (OCR), was met with sizzling demand as it sold nearly all its 372 units on the first day of its launch on Saturday (Jul 23).
S-Reits which took part in the 2021 GRESB real estate assessment
Eighteen S-Reits out of over 1,500 property companies, Reits, funds and developers participated in the 2021 GRESB Real Estate Assessment. According to GRESB, the assessment is an investor-driven global ESG benchmark and reporting framework for listed property companies, private property funds, developers and investors that invest directly in real estate.
Retailers and F&B operators face challenging days as landlords seek pre-pandemic level rent
Singapore – When Mr Kevin Ngan renewed his restaurant leases last year, one landlord cut rent by 10 per cent, while rent for the other two units jumped by up to 25 per cent. Mr Ngan, who runs Good Luck restaurant in Haji Lane, leases three units from different landlords along the same stretch in Kampong Glam.
The pitfalls of sharing a property
Singapore – If you have a property that you want to give to your children, you should consider the various implications before you hand over shares to them. Money, stocks or even assets such as gold can easily be divided or sold but it’s harder to share or enjoy the inheritance if not all of the children live in the property.
When joint owners of properties fight
Singapore – Many people like to join forces to buy investment properties as it lets them fund the purchase collectively but you need to ensure you have an exit strategy before taking the plunge.
Me & My Money: Investing in property to reach longer-term goal
Singapore – Taking an aggressive approach to property investing is a key part of real estate entrepreneur Lorraine Tan’s strategy to grow her wealth and meet longer-term goals.
Recession now looks like the price to pay for beating inflation
After underestimating the worst inflation outbreak in decades, central banks are now driving their economies headlong toward recession in order to tame prices. The stark outlook is stoking fears that policy makers will end up overreaching as they push ahead with aggressive interest-rate hikes, just as some now concede they overstimulated through the pandemic recovery.
IMF urges Singapore to boost public spending and targeted fiscal support in post-pandemic recovery
Singapore may need to adopt “a slower pace of fiscal surplus accumulation”, the executive board of the International Monetary Fund (IMF) has recommended. That’s even as IMF directors suggested, in a report on Friday (Jul 22), that Singapore make fiscal policy the first line of defence against downside risks, though monetary policymakers were also advised “to take further action if higher inflation becomes more persistent” than projected.
askST: What has Singdollar, inflation and currency exchange to do with MAS’ net loss?
Singapore – The central bank on Tuesday (July 19) announced that it recorded a net loss – the first time in nine years – of $7.4 billion for the financial year ended March 31, 2022. The Monetary Authority of Singapore’s (MAS) annual report stated that the loss was led mainly by a huge negative currency translation effect.
5 challenges in Singapore’s social compact – and the way forward
Singapore – Faced with strains ranging from a global pandemic to a world with a hot war and rising great-power tensions, whether a country holds together or comes apart depends on its social compact: a shared understanding of the responsibilities people have to one another in a society.
Singapore hotels rake in highest revenue per available room since start of Covid-19 pandemic: STB data
Singapore hotels raked in the highest revenue per available room (RevPAR) in June, the highest since the Covid-19 pandemic began. Average room rates also hit a 6-year high, data from the Singapore Tourism Board (STB) showed.
Tourists stay longer as S’pore seen as safe place for first trip since Covid-19 hit
Singapore – Hospitality observers and travellers say that many tourists are coming to Singapore – and staying longer – because the country is perceived as a safe destination for their first trip since the Covid-19 pandemic hit in 2020.
Changi’s T4 back in action from Sep 13; 16 airlines to relocate there in stages
Changi Airport’s Terminal 4 (T4) will resume operations from Sep 13, after a more than 2 year hiatus due to the Covid-19 pandemic. Sixteen airlines, including Cathay Pacific, Korean Air and the AirAsia Group, will relocate to T4 progressively, said the Changi Airport Group (CAG) in a statement on Friday (Jul 22).
GuocoLand CEO has his sights set on creating a multi-platform real estate company
While GuocoLand might be best known as a developer, chief executive Cheng Hsing Yao harbours ambitions to create a premium real estate brand in Asia as GuocoLand builds up its end-to-end capabilities.
Developer Pan Hong cautiously optimistic that housing demand in China will return progressively
Singapore Exchange-listed property developer Pan Hong is cautiously optimistic that core housing demand in China will improve as Chinese cities start to introduce measures to support the housing market.
VIEWS, REVIEWS, FORUM AND OTHERS
Why is the world worried about China’s property crisis?
China’s troubled property sector suffered another blow this month when frustrated homebuyers stopped making mortgage payments on units in unfinished projects. The boycott came with many developers struggling to manage mountains of debt, and fears swirling that the crisis could spread to the rest of the Chinese – and global – economy.
The time is right to invest in sustainable Asian cities
Asian cities have experienced rapid urbanisation, driven by the rural-urban migration of people seeking a higher quality of life and better economic opportunities. A report from the United Nations (UN) estimates that an additional 1.2 billion people will live in Asian cities by 2050.
7th and 8th cases of monkeypox confirmed in Singapore
Singapore – Two more cases of monkeypox were reported on Sunday (July 24), with one a 46-year-old man from Estonia and the other a 26-year-old Singaporean man.
Large-scale restrictions in Singapore unnecessary despite WHO declaring monkeypox global emergency: Experts
Experts in Singapore have said there is currently no need for any widespread or major health restrictions to stem the spread of monkeypox. This comes after the World Health Organisation (WHO) declared monkeypox a global health emergency on Saturday (Jul 23).
ST Explains: Monkeypox is a global health emergency. What happens now?
The World Health Organisation on Saturday (July 23) declared the monkeypox outbreak a public health emergency of international concern (PHEIC), the highest level of alert for a disease, due to its rapid spread around the world.
Monkeypox: From beginnings in Africa to becoming a global health emergency
The World Health Organisation (WHO) on Saturday (July 23) declared the monkeypox outbreak, which has affected nearly 16,000 people in 72 countries, to be a global health emergency – the highest alarm it can sound.
Older and younger bosses don’t agree on remote work
Bosses and workers rarely agree on what matters when it comes to the future of work. But there’s division even within the C-suite, particularly regarding the disparate treatment remote and in-office workers can face.
UPDATE ON COVID-19 (CORONAVIRUS DISEASE 2019) SITUATION
6 new local cases of Omicron sub-variant BA.2.75 reported: MOH
Singapore – Six new local infections of the Omicron sub-variant BA.2.75 were reported on Friday (July 22), adding to the two imported infections first detected on July 14. All individuals were isolated upon testing positive, and had mild symptoms, said the Ministry of Health.
Covid-19 vaccination appointments required at polyclinics for those under 80
Singapore – Individuals under 80 years old who want to get their Covid-19 vaccinations at polyclinics here will now have to book appointments to do so. This is to allow the 23 polyclinics here to better handle patients with pressing healthcare needs, said the Ministry of Health (MOH) on Friday (July 22).
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US health officials weigh emergency declaration over monkeypox
Business activity deteriorates globally as recession fears mount
Global slowdown fears darken as cost of living bites
As inflation fears slowly ease, green shoots of economic hope are popping up
Federal Reserve set for another big rate hike with economy on knife’s edge
US economy slowing, but recession not inevitable, Yellen says
US business activity contracts in July for first time in 2 years, survey shows
Consumer confidence drops as inflation squeezes US shoppers
Eurozone business activity contracted in July as price rises bite: PMI
Interest rates would rise faster if Truss beats Sunak, economists say
UK lenders struggle to cope with demand as mortgage costs soar
UK retail sales slip in June as consumers struggle with inflation
Swedish home prices drop the most since the financial crisis
‘Historic’ correction grips Canada’s housing market, RBC says
Ukraine, Russia ink deal to reopen grain export ports
Global slowdown fears darken prospects for Asian factories
China Evergrande CEO, CFO exit in internal probe of deposit use
China to make great efforts to consolidate economic recovery: Cabinet
China confident of resolving impact from Federal Reserve tightening: forex regulator
Hong Kong finance chief says ‘huge’ reserves will maintain peg
Hong Kong bashes global media with hundreds of complaint letters
Hong Kong to speed arrivals with new electronic declaration rule
Bank of Japan board reshuffle brings in less dovish member
Japan’s 10-year yields hit over 2-week low on recession concerns
Japan’s core consumer prices up 2.2% in June
Japan to cut this fiscal year’s economic growth forecast: Nikkei
Malaysia hotels struggle to maintain good service amid staff shortage