The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 24, 25, 26 & 27 Dec 2022 (Sat, Sun, Mon & Tue)



HDB launches Tampines Avenue 11 and Plantation Close GLS sites for tender
The Housing and Development Board (HDB) on Friday (Dec 23) launched two residential sites at Tampines Avenue 11 and Plantation Close for tender, under the government land sales (GLS) programme’s confirmed list for the second half of 2022.
5 abandoned land parcels claimed by the state in past decade
Singapore – Over the past decade, the state has claimed five privately owned land parcels that had been abandoned for at least three years. This figure was revealed when Parliament debated proposed laws to protect state land in November.
Influx of new homes may ease rental pressures in 2023, but supply crunch looms
The influx of new homes in 2023 may ease rental pressures, but the jury is still out on whether home leasing activity will slow or stay robust. Over 18,000 new private homes, excluding executive condominiums, are slated for completion next year, said OrangeTee in a report released on Friday (Dec 23).
Office leasing activity to take a hit, shadow space to rise next year
In the face of a weakening global economy and a slowdown in the tech sector, office leasing activity in Singapore is poised to shrink in 2023. Property consultants also expect an increase in shadow space – excess space on an existing lease obligation that a tenant would like to give up by finding a replacement tenant for the landlord.
Singapore hotel average room rates slip in November
Singapore hotels’ average room rate (ARR) slipped for the second straight month in November, but remained higher than rates recorded prior to September 2022’s 14-year high, Singapore Tourism Board data showed on Friday (Dec 23).
Amid high interest rates, Reits may want to forgo acquisitions for organic growth instead
Prices of real estate investment trusts (Reits) have been battered by rising interest rates. And the acquisition growth engine has slowed substantially for many acquisitive trusts. But prospects are not all bleak for Singapore’s Reits.
URA urges malls to have waiting bays for delivery riders, who say they often park illegally to save time
Singapore — With bicycles, personal mobility devices and motorcycles of delivery riders illegally parked near the entrances of malls and causing obstructions to shoppers a common sight, the authorities have recently sent a circular to mall operators seeking to address the issue.
Vacant BTO flats for sale: Outcry over MOP breaches reflects broader public housing woes
Singapore – Recent media reports of seemingly vacant Build-To-Order (BTO) flats put up for sale on property portals have got some Singaporeans up in arms. These flats are completely bare and unrenovated, with no apparent signs of having been lived in during the mandatory five-year minimum occupation period (MOP).




Singapore inflation holds steady in November, with core at 5.1% and headline at 6.7%
Singapore’s inflation stayed steady across the board in November, as the smaller increase in energy prices helped to offset rising prices of retail and other goods, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed on Friday (Dec 23).
Singapore’s factory output shrinks by worse-than-expected 3.2% in November
Singapore’s factory output contracted 3.2 per cent year on year in November, deepening from October’s revised 0.9 per cent decrease, according to Economic Development Board data on Friday (Dec 23).
Businesses using GST hike as cover for price increases will be investigated: Iras
Singapore – Businesses here that have increased their prices or fees in recent days should explain their reasons to consumers and not misrepresent the situation by attributing higher prices primarily or solely to the increase in the goods and services tax (GST), the Inland Revenue Authority of Singapore (Iras) said on Friday.
High demand for tech, banking roles in 2023; tech talent may earn 20% more when switching jobs
Singapore – Despite a torrid 2022 for technology firms, demand for tech-related roles in the wider economy remained robust, with employers willing to offer attractive salaries to draw talent.
2023 labour moves a springboard for recovery
Singapore – Out of the Covid-19 pandemic and into a global economic uncertainty and a looming recession, economies worldwide hunger for workers who can hasten their return to stability.
From returning tourists to rising inflation, 5 highs and lows that drove S’pore economy in 2022
Singapore – The past 12 months have been eventful for the Singapore economy, what with disruptions caused by Russia’s invasion of Ukraine that began in February and the US Federal Reserve in March starting the first of seven interest rate hikes this year.
More Japanese companies to expand in S’pore, rising wages the top business concern: Survey
Singapore – More than 90 per cent of Japanese companies in Singapore will maintain their present operations or have plans to expand their operations in Singapore.




Is a global recession really around the corner?
World economy is headed for a recession in 2023, researcher says
Here’s where housing prices are cooling the most
US new-home sales unexpectedly increase for a second month
US retail sales grows 7.6% in holiday season: Mastercard
US consumer spending, inflation cool in November
Fontainebleau Las Vegas gets US$2.2b to finish construction
UK businesses hit by Brexit blues two years on
China’s economy is showing increasing strain from the Covid tsunami
What’s in store for China’s GDP, fiscal policy in 2023
Travellers to China will not need to quarantine from Jan 8
Chinese cities see Covid peaking in January as official data gets obscured
Beijing, Shanghai residents back to work as China limps towards living with Covid
Hong Kong plans to reopen border with China in weeks
Japan retail sales up for 9th month helped by tourism
Japan’s jobless rate falls to 2.5% in Nov
Malaysia’s inflation rate holds steady at 4% in November, slightly above economists’ forecasts


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