Singapore Real Estate / Built Environment
Disclosure of buyers’ identities, citizenship required in all landed home sales, including GCB deals: MinLaw
Buyers and ultimate beneficial owners of all landed residential property transactions, including those of good class bungalows (GCB), are required to disclose their identities and citizenship.
https://www.businesstimes.com.sg/property/disclosure-buyers-identities-citizenship-required-all-landed-home-sales-including-gcb-deals-minlaw
AI may wreak havoc on Singapore’s office buildings
Unlike in many major cities, office buildings here survived the Covid-19 pandemic well. Many knowledge workers in Singapore now largely work out of physical offices. This contrasts with the resistance of workers in some other cities to return to physical offices.
https://www.businesstimes.com.sg/opinion-features/ai-may-wreak-havoc-singapores-office-buildings
The View | Why there’s no end in sight to Singapore’s property cooling measures
In Hong Kong, long-standing measures to dampen speculative demand in the city’s residential property market were belatedly scrapped in February in an effort to help reverse a prolonged slump in prices and transactions. Yet since the beginning of this year, second-hand house prices have fallen a further 6.1 per cent. Singapore has the opposite problem. Successive rounds of cooling measures since the Covid-19 pandemic erupted have failed to take the heat out of parts of its housing market.
https://www.scmp.com/opinion/asia-opinion/article/3291949/why-theres-no-end-sight-singapores-property-cooling-measures
Record-breaking 1,000 HDB resale flats hit $1 mil in 2024
This year will see an estimated 1,000 HDB resale flat transactions fetch a price of $1 million or more, according to Huttons Data Analytics. In the first 11 months of the year, 931 such transactions have already been recorded, making up 3% to 4% of the total market transaction volume. It is already more than double last year’s count of 470.
https://www.edgeprop.sg/property-news/record-breaking-1000-hdb-resale-flats-hit-1-mil-2024
Singapore Economy
Singapore’s core inflation slows more than expected to 1.9% in November; headline inflation at 1.6%
Singapore’s core inflation eased more than expected in November, prompting some private-sector economists to predict that the central bank may ease monetary policy settings in January.
https://www.businesstimes.com.sg/singapore/singapores-core-inflation-slows-more-expected-1-9-november-headline-inflation-1-6
https://www.straitstimes.com/business/singapore-core-inflation-extends-decline-to-1-9-in-november
https://www.channelnewsasia.com/singapore/core-overall-inflation-singapore-falls-19-percent-year-november-4822471
https://www.zaobao.com.sg/realtime/singapore/story20241223-5636050
Singapore pulls ahead of Hong Kong in race to be digital asset hub
Singapore forged ahead with efforts to formulate a digital assets hub in 2024, while rival financial centre Hong Kong has struggled to gain traction.
https://www.straitstimes.com/business/banking/singapore-pulls-ahead-of-hong-kong-in-race-to-be-digital-asset-hub
https://www.businesstimes.com.sg/companies-markets/banking-finance/singapore-pulls-ahead-hong-kong-race-be-crypto-hub
Business News
Thai billionaire Charoen to retire as F&N chairman in 2025
Fraser and Neave (F&N) announced on Tuesday (Dec 24) that its board chairman Charoen Sirivadhanabhakdi will retire from office on Jan 16, 2025, at the conclusion of its 126th Annual General Meeting.
https://www.businesstimes.com.sg/companies-markets/thai-billionaire-charoen-retire-fn-chairman-2025
OCBC, UOB to pay out second cost-of-living bonuses for junior staff
For the second year in a row, OCBC and UOB will each be giving out a one-off payment to its junior employees to help them cope with ongoing cost-of-living pressures.
https://www.businesstimes.com.sg/companies-markets/ocbc-uob-pay-out-second-cost-living-bonuses-junior-staff
https://www.straitstimes.com/business/banking/4000-junior-ocbc-staff-to-receive-1000-one-time-payouts-for-cost-of-living-pressures
https://www.channelnewsasia.com/singapore/ocbc-uob-banks-junior-employees-one-bonus-cost-living-4822336
https://www.zaobao.com.sg/realtime/singapore/story20241223-5635950
Global Economy & Real Estate
US Fed floats major changes to bank stress tests in light of legal rulings
https://www.businesstimes.com.sg/companies-markets/banking-finance/us-fed-floats-major-changes-bank-stress-tests-light-legal-rulings
Greenland is not for sale, its leader says in response to Trump
https://www.businesstimes.com.sg/property/greenland-not-sale-its-leader-says-response-trump
https://www.channelnewsasia.com/world/greeenland-not-sale-donald-trump-ownership-control-4823036
US consumer confidence falls as politics weigh on outlook
https://www.businesstimes.com.sg/international/us-consumer-confidence-falls-politics-weigh-outlook
US new home sales rebound in November after hurricane drag
https://www.businesstimes.com.sg/property/us-new-home-sales-rebound-november-after-hurricane-drag
Australia’s risks tilt to downside, IMF says, urging restraint
https://www.businesstimes.com.sg/international/australias-risks-tilt-downside-imf-says-urging-restraint
Who’s pulling ahead in South-east Asia’s data centre race?
https://www.businesstimes.com.sg/international/global/whos-pulling-ahead-south-east-asias-data-centre-race
China’s property stock rebound faces a reality check in 2025
https://www.businesstimes.com.sg/property/chinas-property-stock-rebound-faces-reality-check-2025
Builder Jinke reveals details of court-supervised debt plan
https://www.businesstimes.com.sg/property/builder-jinke-reveals-details-court-supervised-debt-plan
Hong Kong restaurants expect Christmas boom thanks to Shenzhen visa change
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3292068/hong-kong-restaurants-expect-christmas-boom-thanks-shenzhen-visa-change
Malaysia, Indonesia to battle for IPO supremacy in 2025 as signs point to Asean market comeback
https://www.businesstimes.com.sg/international/asean/malaysia-indonesia-battle-ipo-supremacy-2025-signs-point-asean-market-comeback
South Korea finance minister sees political turmoil weighing on economic growth
https://www.businesstimes.com.sg/international/south-korea-finance-minister-sees-political-turmoil-weighing-economic-growth
https://www.channelnewsasia.com/east-asia/south-korea-finance-minister-sees-political-turmoil-weighing-economic-growth-4822541
South Korea consumer sentiment weakest since 2022 on political uncertainty
https://www.businesstimes.com.sg/international/south-korea-consumer-sentiment-weakest-2022-political-uncertainty
https://www.channelnewsasia.com/business/south-korea-consumer-sentiment-weakest-2022-political-uncertainty-4823786
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