Singapore Real Estate
Singapore prime office rents weaken in Q3, outlook mixed
Grade A office rents in Singapore’s central business district (CBD) fell 0.3 per cent quarter on quarter in the third quarter, as demand for office space softened with economic uncertainty, according to a report by JLL Singapore.
https://www.businesstimes.com.sg/property/singapore-prime-office-rents-weaken-q3-outlook-mixed
https://www.edgeprop.sg/property-news/singapore-office-rents-fall-3q2023-weaker-demand-jll
Champagne days for Singapore hotels, but climate change poses a big risk
Despite mounting economic uncertainties, Singapore’s hotels are buzzing. In July, the average room rate (ARR) and revenue per available room (RevPAR) of hotels here rose by 12.8 per cent and 28.3 per cent year on year (yoy) respectively, based on the Singapore Tourism Board’s data. Versus pre-pandemic levels in July 2019, ARR and RevPAR in July 2023 jumped 32.8 per cent and 27.2 per cent, respectively.
https://www.businesstimes.com.sg/opinion-features/champagne-days-singapore-hotels-climate-change-poses-big-risk
Singapore Economy
Economists expect MAS to maintain monetary policy settings as August headline, core inflation dip
The Monetary Authority of Singapore (MAS) will likely stick to the status quo at October’s monetary policy meeting, economists said after MAS and Ministry of Trade and Industry (MTI) data showed August’s inflation prints – the last to release before the meeting – cooling for the fourth straight month on Monday (Sep 25).
https://www.businesstimes.com.sg/singapore/economists-expect-mas-maintain-monetary-policy-settings-august-headline-core-inflation
https://www.straitstimes.com/business/singapore-core-inflation-drops-for-4th-straight-month-to-34
https://www.todayonline.com/singapore/singapores-core-inflation-dips-34-august-lowest-april-2022-2265916
https://www.channelnewsasia.com/singapore/singapore-core-inflation-august-2023-mti-mas-3796386
https://www.theedgesingapore.com/news/singapore-economy/singapores-headline-inflation-eases-further-40-while-core-inflation
Lawrence Wong to become deputy chairman of GIC from Oct 1
Deputy Prime Minister Lawrence Wong will assume the post of deputy chairman of GIC from Oct 1. “As deputy chairman, Mr Wong will assist the chairman to lead the board in overseeing GIC’s long-term asset allocation and portfolio performance,” announced the sovereign wealth investor on Monday (Sep 25).
https://www.businesstimes.com.sg/singapore/lawrence-wong-become-deputy-chairman-gic-oct-1
https://www.straitstimes.com/singapore/dpm-lawrence-wong-to-be-appointed-deputy-chairman-of-gic
https://www.todayonline.com/singapore/dpm-lawrence-wong-appointed-deputy-chairman-gic-board-2265871
https://www.channelnewsasia.com/singapore/lawrence-wong-dpm-appointed-gic-board-deputy-chairman-3796216
https://www.theedgesingapore.com/news/singapore/dpm-lawrence-wong-appointed-gics-deputy-chairman
Global Economy & Real Estate
Australia considers new, broader definition of full employment
https://www.businesstimes.com.sg/international/australia-considers-new-broader-definition-full-employment
China’s ailing property market faces key test over Golden Week
https://www.businesstimes.com.sg/property/chinas-ailing-property-market-faces-key-test-over-golden-week
https://www.straitstimes.com/asia/east-asia/china-s-ailing-property-market-faces-key-test-over-golden-week
China developer slump deepens to US$55 billion as debt woes mount
https://www.businesstimes.com.sg/international/global/china-developer-slump-deepens-us55-billion-debt-woes-mount
China housing market: major banks begin cutting outstanding mortgage rates, but impact may not be ‘sufficient’, analysts say
https://www.scmp.com/business/banking-finance/article/3235748/china-housing-market-major-banks-begin-cutting-outstanding-mortgage-rates-impact-may-not-be
ECB rates to stay restrictive as long as needed: Lagarde
https://www.businesstimes.com.sg/international/ecb-rates-stay-restrictive-long-needed-lagarde
Germany’s housing sector slumps into crisis
https://www.businesstimes.com.sg/property/germanys-housing-sector-slumps-crisis
https://www.scmp.com/business/article/3235734/germanys-housing-sector-slumps-crisis-1-5-developers-reportedly-cancelling-projects-august
Germany unveils relief measures to prop up construction industry
https://www.businesstimes.com.sg/international/germany-unveils-relief-measures-prop-construction-industry
German business sentiment worsens in September
https://www.businesstimes.com.sg/international/german-business-sentiment-worsens-september
Hong Kong mortgage rule easing seen doing little to lift market
https://www.businesstimes.com.sg/property/hong-kong-mortgage-rule-easing-seen-doing-little-lift-market
https://www.straitstimes.com/business/property/hong-kong-mortgage-rule-easing-seen-doing-little-to-lift-market
Hong Kong among world’s top sources of property capital, but global investors give city’s real estate a miss: Colliers report
https://www.scmp.com/business/article/3235743/hong-kong-among-worlds-top-sources-property-capital-global-investors-give-citys-real-estate-miss
Japan to compile economic package in October to ease inflation pain
https://www.businesstimes.com.sg/international/japan-compile-economic-package-october-ease-inflation-pain
https://www.channelnewsasia.com/business/japan-compile-economic-package-ease-inflation-pain-3796891
Japan corporate service prices rise 2.1% yr/yr
https://www.channelnewsasia.com/business/japan-corporate-service-prices-rise-21-yr-yr-3798421
Slump in UK retail sales eases in September
https://www.businesstimes.com.sg/international/slump-uk-retail-sales-eases-september
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