Singapore Real Estate
Government has ‘high ambitions’ for Jurong Lake District to be a site for sustainable living
Singapore – The Government has “high ambitions for the Jurong Lake District (JLD) to be a demonstrative site for sustainable living” in addition to being the largest commercial district outside Singapore’s city centre, Minister for National Development Desmond Lee said.
https://www.straitstimes.com/singapore/government-has-high-ambitions-for-jurong-lake-district-to-be-a-site-for-sustainable-living
Will latest GLS supply injection cure private home buyers of Fomo?
Singapore – The beefing up of private-housing land supply announced this past week signals the Government’s intent to ensure a sustainable property market, while assuring Singaporeans that there is adequate supply to meet housing needs. But the latest land injection is not expected to have an impact on current prices, as potential launches will hit the market only in 2025.
https://www.straitstimes.com/business/will-latest-gls-supply-injection-cure-private-home-buyers-of-fomo
Boustead Projects makes several transactions to redevelop 36 Tuas Road to cater to logistics and manufacturing sectors
Boustead Projects has entered into several transactions for the joint redevelopment of a logistics and manufacturing facility at 36 Tuas Road. The facility has a total gross floor area (GFA) of 59,800 sqm.
https://www.theedgesingapore.com/news/property/boustead-projects-makes-several-transactions-redevelop-36-tuas-road-cater-logistics
S$1.5 million Tiong Bahru HDB flat sale in May marks new resale record high
A four-room jumbo Housing Board (HDB) flat at 50 Moh Guan Terrace was sold for S$1.5 million in May, setting a new price record for HDB resale units transacted. The fourth floor unit in Tiong Bahru occupies a strata area of 1,894.5 square feet. It has a 99-year lease which commenced from 1973.
https://www.businesstimes.com.sg/property/s15-million-tiong-bahru-hdb-flat-sale-may-marks-new-resale-record-high
Singapore Economy
Singapore to unveil improved family office tax incentives
Singapore’s central bank will announce improved tax incentives in July to recognise the charitable contributions of family offices – companies that manage wealthy families’ assets, Senior Minister and MAS Chairman Tharman Shanmugaratnam said on Friday (Jun 23).
https://www.businesstimes.com.sg/singapore/singapore-unveil-improved-family-office-tax-incentives
https://www.straitstimes.com/business/s-pore-to-announce-new-incentives-for-family-offices-launche
-trade-finance-registry-to-counter-risks
https://www.theedgesingapore.com/news/banking-finance/mas-recognise-single-family-offices-contributions-charity-blended-finance
Singapore, Sichuan companies sign 6 MOUs as bilateral trade hits record US$2.7 billion in 2022
Singapore and Sichuan companies signed six new memoranda of understanding (MOUs) at a trade and investment meeting in Chengdu on Sunday (Jun 25). These collaborations signal Singapore companies’ continued interest in Sichuan, said Minister of Manpower and Second Minister for Trade and Industry Tan See Leng.
https://www.businesstimes.com.sg/singapore/singapore-sichuan-companies-sign-6-mous-bilateral-trade-hits-record-us27-billion-2022
https://www.straitstimes.com/business/singapore-sichuan-companies-sign-6-mous-as-bilateral-trade-hits-record-us27-billion-in-2022
Views, Reviews Forum and Others
MFA advises Singaporeans to postpone trips to Russia, Ukraine due to unstable security situation
Singaporeans are advised to postpone all non-essential travel to Russia, given the unstable security situation in its southern region, which could spread to other parts of the country. With the ongoing conflict between Russia and Ukraine, Singaporeans are also advised to put off all travel plans to Ukraine, said the Ministry of Foreign Affairs (MFA) in a statement on Sunday (Jun 25).
https://www.businesstimes.com.sg/singapore/mfa-advises-singaporeans-postpone-trips-russia-ukraine-due-unstable-security-situation
https://www.straitstimes.com/singapore/mfa-advises-singaporeans-to-postpone-trips-to-russia-ukraine-due-to-unstable-security-situation
https://www.channelnewsasia.com/singapore/singaporeans-defer-russia-travel-non-essential-unstable-security-situation-mfa-3585941
Worker killed in Tanjong Pagar structure collapse was walking along path outside worksite
Singapore: A worker who was killed when a concrete wall at a Tanjong Pagar worksite collapsed on Jun 15 was walking along a path outside the worksite, the Workplace Safety and Health (WSH) Council said on Friday (Jun 23).
https://www.channelnewsasia.com/singapore/tanjong-pagar-structure-collapse-worker-killed-walking-path-outside-worksite-3583096
Commentary: Tighter enforcement not enough to prevent workplace fatalities in Singapore
Singapore: The death of migrant worker Vinoth Kumar in a structure collapse at a Tanjong Pagar worksite reignites concern about a growing list of workplace fatalities in Singapore.
https://www.channelnewsasia.com/commentary/tanjong-pagar-structure-collapse-workplace-death-safety-mom-wsh-esg-3582636
Global Economy & Real Estate
BIS warns world economy at critical juncture in inflation fight
https://www.businesstimes.com.sg/international/bis-warns-world-economy-critical-juncture-inflation-fight
https://www.straitstimes.com/business/world-economy-at-critical-juncture-in-inflation-fight-central-bank-body-warns
https://www.theedgesingapore.com/news/global-economy/final-stretch-central-bank-hiking-will-be-toughest-bis-says
US business activity growth slows in June, but services keep humming along
https://www.businesstimes.com.sg/international/us-business-activity-growth-slows-june-services-keep-humming-along
Homebuilding set to boost US economy after 2-year contraction
https://www.businesstimes.com.sg/property/homebuilding-set-boost-us-economy-after-2-year-contraction
Economists increasingly expect UK recession as BOE keeps raising rates
https://www.businesstimes.com.sg/international/global/economists-increasingly-expect-uk-recession-boe-keeps-raising-rates
UK economy stumbles, but price pressures remain high: flash PMI
https://www.businesstimes.com.sg/international/uk-economy-stumbles-price-pressures-remain-high-flash-pmi
UK shoppers boost spending again despite inflation’s squeeze
https://www.businesstimes.com.sg/international/uk-shoppers-boost-spending-again-despite-inflations-squeeze
Kensington, Chelsea residents lead UK in using holiday homes
https://www.businesstimes.com.sg/property/kensington-chelsea-residents-lead-uk-using-holiday-homes
Huge jump in mortgage costs facing 1.4 million Britons, IFS says
https://www.businesstimes.com.sg/property/huge-jump-mortgage-costs-facing-14-million-britons-ifs-says
Swedish property company SBB to sell remaining 51% of education unit
https://www.businesstimes.com.sg/property/swedish-property-company-sbb-sell-remaining-51-education-unit
German economy bids goodbye to years of plenty
https://www.businesstimes.com.sg/international/german-economy-bids-goodbye-years-plenty
https://www.channelnewsasia.com/business/german-economy-bids-goodbye-years-plenty-3585551
Spain’s economy grew at faster pace in Q1, returned to pre-pandemic levels
https://www.businesstimes.com.sg/international/spains-economy-grew-faster-pace-q1-returned-pre-pandemic-levels
Norway home prices to avoid decline this year, central bank says
https://www.businesstimes.com.sg/property/norway-home-prices-avoid-decline-year-central-bank-says
China must act fast to bolster recovery, says senior economic official
https://www.channelnewsasia.com/business/china-must-act-fast-bolster-recovery-says-senior-economic-official-3585836
China’s latest holiday spending still below pre-Covid levels
https://www.businesstimes.com.sg/international/chinas-latest-holiday-spending-still-below-pre-covid-levels
Chinese builder halts all offshore debt payment on property market weakness
https://www.businesstimes.com.sg/property/chinese-builder-halts-all-offshore-debt-payment-property-market-weakness
More Chinese buyers snapping up Bangkok luxury condos post-pandemic: analysts
https://www.businesstimes.com.sg/international/asean/more-chinese-buyers-snapping-bangkok-luxury-condos-post-pandemic-analysts
China has reopened, so why aren’t Chinese tourists back in S’pore in droves?
https://www.straitstimes.com/asia/now-that-china-has-reopened-where-are-the-chinese-tourists
Property sales launch called off at Aruna project in Ap Lei Chau, as Hong Kong developers cut prices for new homes
https://www.scmp.com/business/article/3225261/property-sales-launch-called-aruna-project-ap-lei-chau-hong-kong-developers-cut-prices-new-homes
Hong Kong property: land parcel for starter homes in Tsuen Wan likely to draw few bids as high interest rates subdue market
https://www.scmp.com/business/article/3225212/hong-kong-property-land-parcel-starter-homes-tsuen-wan-likely-draw-few-bids-high-interest-rates
Hong Kong may relax some mortgage rules: Paul Chan
https://www.businesstimes.com.sg/property/hong-kong-may-relax-some-mortgage-rules-paul-chan
https://www.straitstimes.com/business/hong-kong-may-relax-some-mortgage-rules-chan-says
https://www.channelnewsasia.com/business/hong-kong-fine-tune-mortgage-limits-first-time-homebuyers-3585671
https://www.scmp.com/business/article/3225309/hong-kong-may-relax-mortgage-loan-value-ratios-amid-sluggish-property-market-financial-secretary
Hongkongers snap up flats in the Philippines, lured by cheap prices and economic outlook despite rising interest rates
https://www.scmp.com/business/article/3225173/hongkongers-snap-flats-philippines-lured-cheap-prices-and-economic-outlook-despite-rising-interest
The price to pay: Hong Kong expats weigh expensive costs against opportunities for jobs, chance to live the good life
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3225313/price-pay-hong-kong-expats-weigh-expensive-costs-against-opportunities-jobs-chance-live-good-life
S Korea may cut 2023 GDP growth forecast on sluggish chip sales
https://www.businesstimes.com.sg/international/s-korea-may-cut-2023-gdp-growth-forecast-sluggish-chip-sales
Malaysia’s headline inflation slows to year-long low of 2.8% in May, but core inflation may stay sticky
https://www.businesstimes.com.sg/international/asean/malaysias-headline-inflation-slows-year-long-low-28-may-core-inflation-may-stay
Malaysia’s tax amnesty programme draws interest from Singapore companies
https://www.businesstimes.com.sg/international/asean/malaysias-tax-amnesty-programme-draws-interest-singapore-companies
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