Singapore Real Estate
Industrial GLS for H1 2024 launched with 5 confirmed sites, 4 on reserve
The Ministry of Trade and Industry (MTI) is launching a total of 13.75 ha of industrial land across nine sites through the Industrial Government Land Sales (IGLS) programme for the first half of 2024.
Singapore’s built environment sector on track to hit green targets: BCA chief
Singapore’s best-in-class buildings have achieved about 71 per cent improvement in energy efficiency compared to 2005 levels, but Building and Construction Authority (BCA) chief executive officer Kelvin Wong foresees that hitting the 80 per cent target will be a technical challenge.
Private leasing market slides further in November, HDB rents rebound
Condominium rental prices and volumes continued to fall in November, marking the fourth consecutive month of decline. The Housing and Development Board (HDB) rental market, however, showed signs of a slight recovery.
Stable outlook for HDB resale market with 3-5% price growth forecast for 2024
Housing and Development Board (HDB) resale prices are expected to stay on an even keel in the coming year, with 3 to 5 per cent growth forecast for 2024. The “moderate” price growth estimates would be on a par with the 4 to 5.5 per cent that the HDB resale market is tipped to show for 2023, but much slower than the 10.4 per cent increase in 2022 and 12.7 per cent spurt in 2021. Prices are up by 3.8 per cent in the first nine months of 2023.
Singapore Economy
Expectations mixed on Singapore’s monetary moves in 2024, even as core inflation is set to cool
Singapore is set to enter a phase of disinflation in 2024, after two years of rapid price increases in the wake of the Covid-19 pandemic. Economists are divided over how monetary policy will shape up, though, even as the central bank shifts to quarterly rather than half-yearly decisions.
Suez Canal reroutes have mixed impact on Singapore SMEs so far
As conflict in the Red Sea causes ships to be rerouted away from the Suez Canal, some imports from Europe to Singapore may face delays and higher costs, said industry observers – though it is still too early for all importers to be affected.
Global Economy & Real Estate
Gold holds steady amid muted activity on US Fed rate cut bets
US labour market seen cooling in 2024, regional Fed surveys show
https://www.straitstimes.com/business/us-job-market-seen-cooling-in-2024-easing-inflation-pressures
China aims to expand domestic demand, ensure speedy recovery
Goldman, Morgan Stanley expect China’s housing slump to worsen
https://www.straitstimes.com/business/goldman-morgan-stanley-expect-china-s-housing-slump-to-worsen
Some Chinese state property developers stiff their suppliers, defying edicts and worsening slump
Dubai’s red-hot property market is bracing for a slowdown
https://www.businesstimes.com.sg/property/dubais-red-hot-property-market-bracing-slowdown
Hong Kong’s November home prices drop for the 7th month
https://www.businesstimes.com.sg/property/hong-kongs-november-home-prices-drop-7th-month
Hong Kong’s US$1.3 billion Northern Metropolis property JV shows CR Land and NWD’s support for city’s development, says chief
A ski chalet with views of the Matterhorn lists for US$26 million
https://www.businesstimes.com.sg/property/ski-chalet-views-matterhorn-lists-us26-million
Malaysia reboots flagging ‘second home’ golden visa scheme with eye on Chinese expats
Swiss climate activists target the rich with new tax proposal
https://www.businesstimes.com.sg/international/swiss-climate-activists-target-rich-new-tax-proposal
UK residential property market could do better than expected next year: analysts
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