Singapore Real Estate
Private-home sub-sales continue to hit new highs in 2023
Sub-Sale volumes in Singapore’s private housing market rose yet again in 2023 to their highest level since 2013 with 1,294 transactions, a 69.2 per cent jump from the previous year. This is the second straight year of strong growth in the sub-sales market, which is typically seen as a proxy for speculative buying behaviour. Volumes had hit a decade-long high in 2022 with 765 transactions, up 34.7 per cent from 2021.
https://www.businesstimes.com.sg/property/private-home-sub-sales-continue-hit-new-highs-2023
$15.5 million Singapore penthouse sale flops after three auctions
Singapore – In the past, a luxury penthouse for sale in Singapore would be one of the hottest properties in town. Not anymore, after such a unit with an asking price of $15.5 million failed to attract any bidders this week.
https://www.straitstimes.com/business/155-million-singapore-penthouse-sale-flops-after-three-auctions
https://www.scmp.com/news/asia/southeast-asia/article/3256308/indonesian-tycoon-jonathan-tahir-struggles-sell-us12-million-singapore-penthouse-after-3-auctions
Stay awhile: How long-stay serviced apartments may change the housing landscape
In late November last year, the government unveiled a new category of serviced apartments following a boom in the rental market, with a longer minimum-stay requirement of three months to better meet demand.
https://www.businesstimes.com.sg/opinion-features/stay-awhile-how-long-stay-serviced-apartments-may-change-housing-landscape
Singapore Economy
Singapore doing all it can for Gaza relief efforts, the community can help too: DPM Wong
Singapore – The situation in Gaza is horrific with many innocent lives lost and people continuing to suffer, and that is why the Government has been doing all it can to help with global relief efforts, said Deputy Prime Minister and Finance Minister Lawrence Wong on March 24.
https://www.straitstimes.com/singapore/singapore-doing-its-part-for-gaza-relief-efforts-community-can-play-a-part-too-dpm-lawrence-wong
Orchard Road turns off the lights for a brighter future
Singapore – For the first time in Singapore, non-essential lights along Orchard Road went out simultaneously at 8.30pm on March 23 in support of the World Wide Fund for Nature’s Earth Hour Switch Off, which advocates for a climate-resilient planet.
https://www.straitstimes.com/singapore/orchard-road-turns-off-the-lights-out-for-a-brighter-future
Global Economy & Real Estate
Real estate investors sitting on ‘huge’ CO2 risk turn to lawyers
https://www.businesstimes.com.sg/property/real-estate-investors-sitting-huge-co2-risk-turn-lawyers
The great central bank policy reversal kicks off
https://www.businesstimes.com.sg/companies-markets/banking-finance/great-central-bank-policy-reversal-kicks
US dollar strengthens after big shift in global rate outlook
https://www.businesstimes.com.sg/companies-markets/us-dollar-strengthens-after-big-shift-global-rate-outlook
Australia’s central bank warns of another tough year for borrowers, businesses
https://www.businesstimes.com.sg/international/australia-s-central-bank-warns-another-tough-year-borrowers-businesses
Australia to recommend minimum wage rise in line with inflation
https://www.businesstimes.com.sg/international/australia-recommend-minimum-wage-rise-line-inflation
China could grow faster with pro-market reforms, IMF managing director says
https://www.businesstimes.com.sg/international/china-could-grow-faster-pro-market-reforms-imf-managing-director-says
China uses surprise data announcements to counter economic gloom
https://www.businesstimes.com.sg/international/china-uses-surprise-data-announcements-counter-economic-gloom
China could grow faster with pro-market reforms, says IMF managing director
https://www.channelnewsasia.com/business/china-could-grow-faster-pro-market-reforms-says-imf-managing-director-4218006
China’s yuan a standout funder for emerging-market carry trade
https://www.businesstimes.com.sg/companies-markets/china-s-yuan-standout-funder-emerging-market-carry-trade
China’s construction for Indonesia’s new capital Nusantara to lead growing overseas city-building portfolio
https://www.scmp.com/economy/global-economy/article/3256395/chinas-construction-indonesias-new-capital-nusantara-lead-growing-overseas-city-building-portfolio?module=hp_section_china&pgtype=homepage
Chinese developer Longfor’s 50% profit slump reflects the poor state of housing market
https://www.scmp.com/business/china-business/article/3256403/chinese-developer-longfors-50-profit-slump-reflects-poor-state-housing-market
The Peninsula sees challenges as Hong Kong luxury hotel chain seeks to counter ‘negative perception’ hobbling tourism industry
https://www.scmp.com/business/article/3256532/peninsula-sees-challenges-hong-kong-luxury-hotel-chain-seeks-counter-negative-perception-hobbling
Hong Kong property: homebuyers flock to Wheelock’s Seasons Place in Tseung Kwan O
https://www.scmp.com/business/markets/article/3256473/hong-kong-property-homebuyers-flock-wheelocks-seasons-place-tseung-kwan-o
Hong Kong property: Henderson’s Gateway Square Mile sees modest sales, the first setback after lifting of curbs
https://www.scmp.com/business/article/3256436/hong-kong-property-hendersons-gateway-square-mile-sees-modest-sales-first-setback-after-lifting
Hong Kong’s family office hub ambitions spawn private banking opportunities: Citigroup
https://www.scmp.com/business/banking-finance/article/3256449/hong-kongs-family-office-hub-ambitions-spawn-private-banking-opportunities-citigroup
Hong Kongers flocking to China spur CK Hutchison retail revamp
https://www.businesstimes.com.sg/companies-markets/consumer-healthcare/hong-kongers-flocking-china-spur-ck-hutchison-retail-revamp
Japan’s Seibu considers sale of Tokyo office building for 300 billion yen: sources
https://www.businesstimes.com.sg/property/japan-s-seibu-considers-sale-tokyo-office-building-300-billion-yen-sources
Russia’s oil is finally getting snarled by sanction
https://www.businesstimes.com.sg/international/russia-s-oil-finally-getting-snarled-sanctions
Thai parliament approves delayed 3.48 billion baht budget for 2024 fiscal year
https://www.businesstimes.com.sg/international/asean/thai-parliament-approves-delayed-3.48-billion-baht-budget-2024-fiscal-year
UK government to unveil £200 million nuclear investment
https://www.businesstimes.com.sg/international/uk-government-unveil-ps200-million-nuclear-investment
Retailers turn to steep discounts to lure shoppers as consumer spending underwhelms
https://www.straitstimes.com/business/retailers-turn-to-extreme-bargains-to-lure-shoppers-as-consumer-spending-underwhelms
Wealth in Vietnam growing fast, but low productivity tests high-income goal
https://www.businesstimes.com.sg/international/asean/wealth-vietnam-growing-fast-low-productivity-tests-high-income-goal
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