Singapore Real Estate / Built Environment
A more sustainable and carbon-lite approach to cooling Singapore’s buildings
Buildings contribute around 40 per cent of global energy consumption and 33 per cent of greenhouse-gas emissions. On Sep 18, National Development Minister Desmond Lee reinforced the government’s effort to promote a more sustainable Singapore by introducing new incentives to encourage building owners to reduce energy consumed in cooling their buildings.
https://www.businesstimes.com.sg/opinion-features/more-sustainable-and-carbon-lite-approach-cooling-singapores-buildings
Intergenerational co-living: A new housing option for seniors in Singapore?
Singapore: By 2026, Singapore is set to attain “super-aged” status which is defined as a country having at least 21 per cent of its population aged 65 and above. To prepare for a rapidly ageing society, the government has said it will continue to expand housing options for seniors – and a new model appears to be under experimentation.
https://www.channelnewsasia.com/singapore/co-living-new-housing-option-seniors-singapore-4620516
Rate cuts will give S-Reits a boost, but don’t expect a return to the glory days soon
The US Federal Reserve’s long-awaited interest-rate cut spells relief for global markets, which have had to cope with rate hikes since March 2022. Before the super-sized rate cut of half a percentage point last week, interest rates had soared from around zero to 5.5 per cent.
https://www.businesstimes.com.sg/opinion-features/rate-cuts-will-give-s-reits-boost-dont-expect-return-glory-days-soon
Condo resale volumes down slightly in August as buyers await interest rate cut: SRX, 99.co
Condo resale volumes inched down in August – a decrease in sales which analysts attributed to buyers waiting for a potential interest rate cut. Based on flash estimates from SRX and 99.co released on Tuesday (Sep 24), about 1,080 units were resold, representing a 1.7 per cent decrease from the 1,099 units transacted in July.
https://www.businesstimes.com.sg/property/condo-resale-volumes-down-slightly-august-buyers-await-interest-rate-cut-srx-99-co
Singapore Economy
Singapore’s population hits record 6.04 million in June 2024, boosted mainly by foreign workers
Singapore’s total population crossed the six million threshold for the first time in June, boosted mainly by an increase in the number of foreign workers and migrant domestic workers.
https://www.businesstimes.com.sg/singapore/singapores-population-hits-record-6-04-million-june-2024-boosted-mainly-foreign-workers
https://www.zaobao.com.sg/realtime/singapore/story20240924-4834042
Singapore ranks fourth among global financial centers
The latest Global Financial Centers Index (GFCI) shows that Singapore fell one place to fourth, while Hong Kong jumped one place to third, surpassing Singapore for the first time in two and a half years. The first and second places continue to be New York and London respectively.
https://www.zaobao.com.sg/realtime/singapore/story20240924-4837686
ADB upgrades Singapore’s 2024 economic growth outlook on rising chip exports
Singapore – Improving prospects of demand for electronic goods and financial services have lifted Singapore’s economic outlook for 2024, the Asian Development Bank (ADB) said on Sept 25.
The Manila-headquartered bank said Singapore will clock gross domestic product (GDP) growth of 2.6 per cent in 2024, up from 1.1 per cent in 2023 and better than its April forecast of 2.4 per cent. Meanwhile, inflation is set to decline this year and next, it said.
https://www.straitstimes.com/business/adb-upgrades-singapore-s-2024-economic-growth-outlook-on-rising-chip-exports
Global Economy & Real Estate
Oil prices climb 2% on China stimulus, Middle East conflict
https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-prices-climb-2-china-stimulus-middle-east-conflict
IMF chief says US inflation in ‘good place’, Fed ‘got it right’
https://www.businesstimes.com.sg/international/imf-chief-says-us-inflation-good-place-fed-got-it-right
US consumer confidence unexpectedly falls in September
https://www.businesstimes.com.sg/international/us-consumer-confidence-unexpectedly-falls-september
Why Fed’s rate cut won’t fix what ails Hong Kong or Singapore
https://www.scmp.com/opinion/asia-opinion/article/3279557/why-feds-rate-cut-wont-fix-what-ails-hong-kong-or-singapore
Home-price gains in US slow as affordability pressures buyers
https://www.businesstimes.com.sg/property/home-price-gains-us-slow-affordability-pressures-buyers
US commercial-property market is coming back to life
https://www.businesstimes.com.sg/property/us-commercial-property-market-coming-back-life
Reserve Bank of Australia holds key rate at 12-year high, defying global easing
https://www.businesstimes.com.sg/companies-markets/banking-finance/reserve-bank-australia-holds-key-rate-12-year-high-defying-global-easing
Bank of England’s Bailey says interest rates are gradually heading downwards
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-englands-bailey-says-interest-rates-are-gradually-heading-downwards
7 takeaways from China’s most significant stimulus package since the pandemic
https://www.scmp.com/economy/policy/article/3279756/7-takeaways-chinas-most-significant-stimulus-package-pandemic?module=top_story&pgtype=section
China’s financial regulators announce raft of policy measures to support economy
https://www.straitstimes.com/asia/china-s-financial-regulators-announce-raft-of-policy-measures-to-support-economy
China unveils biggest package yet to boost property market
https://www.businesstimes.com.sg/property/china-unveils-biggest-package-yet-boost-property-market
Country Garden Services to sell stake in Zhuhai Wanda for $446 million
https://www.channelnewsasia.com/business/country-garden-services-sell-stake-zhuhai-wanda-446-million-4633061
Europe: Shares end higher as markets cheer China’s stimulus plans
https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/europe-shares-end-higher-markets-cheer-chinas-stimulus-plans
Hong Kong’s biggest developer sells homes at discount after rate cut
https://www.businesstimes.com.sg/property/hong-kongs-biggest-developer-sells-homes-discount-after-rate-cut
Indonesia to launch central counterparty clearing house next week
https://www.businesstimes.com.sg/international/asean/indonesia-launch-central-counterparty-clearing-house-next-week
Japan’s Aug corporate service prices rise 2.7% yr/yr
https://www.channelnewsasia.com/business/japans-aug-corporate-service-prices-rise-27-yr-yr-4633141
South Koreans see home prices edging up further: survey
https://www.businesstimes.com.sg/property/south-koreans-see-home-prices-edging-further-survey
Thai finance ministry and central bank to discuss inflation target next week
https://www.businesstimes.com.sg/international/thai-finance-ministry-and-central-bank-discuss-inflation-target-next-week
Opec rolls out global oil outlook to 2050, sees no peak demand
https://www.straitstimes.com/business/companies-markets/opec-rolls-out-global-oil-outlook-to-2050-sees-no-peak-demand
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