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 May 2023 (Wed)

Singapore Real Estate


Locally listed landlords face tough calls as Singapore office property market reprices
No Singapore office building has sold for S$500 million or more since last June. Institutional investors – the typical buyers of larger office buildings – are clearly not in the mood to acquire, with borrowing costs now exceeding office property yields.


Rise in demand for flexible workspaces in S’pore even as prices surge: Report
Singapore – The demand for flexible workspaces in Singapore rose by 25 per cent in 2022 compared with 2021, and it was also costing more to use these spaces, according to global workspace specialist The Instant Group.



Singapore Economy


MAS policy change still not expected as Singapore headline inflation ticks up in April, core remains flat
Singapore’s headline inflation rebounded to 5.7 per cent year on year (yoy) in April, after March’s step down to 5.5 per cent, while core inflation was unchanged at 5 per cent, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed on Tuesday (May 23).


Financial institutions required to combat higher money laundering risks from wealthy clients: MAS
Singapore – Financial institutions are required to alert the police and the financial regulator if they suspect that a transaction could be related to a crime, although there is no threshold set for when they must flag these activities.


Singapore’s core inflation remains unchanged at 5% in April
Singapore — Singapore’s core inflation held steady at 5 per cent year-on-year in April, with lower inflation for electricity and gas, food as well as retail and other goods. The lower inflation in these categories was offset by higher inflation for travel-related services last month, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Tuesday (May 23). Core inflation had risen to 5.5 per cent in February and January this year, a 14-year high, before falling to 5 per cent in March.
Singapore’s core inflation remains unchanged at 5% in April – TODAY (

Views, Reviews, Forum and Others


Heightened safety period to end but new measures introduced to improve workplace safety
Singapore: The heightened safety period imposed from September last year will end on May 31, the Ministry of Manpower (MOM) announced on Tuesday (May 23). But some requirements will remain, and new measures will be introduced to create “sustainable workplace safety (and) health outcomes”, the ministry said.


Living conditions in dormitories better since COVID-19 but more improvements needed, say foreign workers
Singapore: Living conditions in migrant worker dormitories are better now than before the pandemic, with more space in rooms and cleaner facilities, said workers. But some of them told CNA that communal kitchens and toilets can still get dirty, especially over weekends.


People aged 60 and above, medically vulnerable urged to get Covid-19 bivalent booster shot
Singapore – People aged 60 and older, as well as those who are medically vulnerable, who have not received the updated bivalent vaccine booster are advised to do so about a year after their last booster shot.



Global Economy & Real Estate


US new home sales soar to 13-month high in April


US business activity rises to 13-month high in May: S&P Global survey


Two Fed officials say more interest-rate raises may be needed to cool prices


Oil prices rise on concerns over tightening supply


Eurozone business growth solid in May but shows signs of easing


IMF says UK no longer heading for a recession in 2023


IMF forecasts UK economic growth in major U-turn


High inflation swells UK budget deficit in April


Britain’s inflation rate may fall at sharpest pace in 30 years


Britain to limit migration by family of overseas students


Impact investing: profit-seeking ESG investments gain traction in Hong Kong as sustainability issues grab attention


Stricter rules proposed to weed out wealthy in Hong Kong public rental flats and protect those most in need of housing


Japan manufacturers’ mood turns positive as economy recovers


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