The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News 29, 30 & 31 January 2025 (Wed, Thu & Fri)

Singapore Real Estate / Built Environment

 

Church in S$54.5 million purchase of 19,289 sq ft retail space in Orchard Towers

About 19,000 square feet (sq ft) of retail space on the fourth level of the freehold Orchard Towers is being sold for S$54.5 million.

https://www.businesstimes.com.sg/property/church-s54-5-million-purchase-19289-sq-ft-retail-space-orchard-towers

 

Joo Chiat, Tanjong Pagar shophouse rentals outpace average market rates

In recent years, Kampong Gelam, an area steeped in heritage and history, has been cultivating a more modern and unique identity. The rows of old shophouses have attracted niche brands, which have turned the area into a hangout for the young and trendy.

https://www.channelnewsasia.com/singapore/shophouse-rental-market-property-real-estate-retailers-shopping-mall-singapore-4898891

 

Condo sizes shrank in past 15 years as developers sought to keep prices manageable

Event organiser Jane Seet bought a 678 sq ft two-bedder in Emerald of Katong in November 2024 for $1.84 million, but has no plans to live in it because it is too small.

https://www.straitstimes.com/singapore/housing/condo-sizes-shrank-in-past-15-years-as-developers-sought-to-keep-prices-manageable

 

Luxury resale condo market stalls in 2024 as demand from foreign buyers falls

Singapore’s luxury condominium market came to a standstill in 2024, with property agents reporting a limited pool of buyers, leaving them with numerous listings but few takers.

https://www.straitstimes.com/singapore/luxury-resale-condo-market-stalls-in-2024-as-demand-from-foreign-buyers-falls

 

URA should whet the appetite of developers with a prime CBD office site in Singapore

A potential shortage may be on the horizon for Singapore’s Core Central Business District (CBD) Grade A office market.

https://www.businesstimes.com.sg/opinion-features/ura-should-whet-appetite-developers-prime-cbd-office-site-singapore

 

Construction companies need to collaborate and plan better as demand climbs

Strong growth in construction demand is expected to further strain demand for manpower and resources. Without better planning and collaboration among stakeholders, issues such as poaching could become more significant in 2025 and margins could come under pressure.

https://www.businesstimes.com.sg/companies-markets/construction-companies-need-collaborate-and-plan-better-demand-climbs

 

Structural integrity of Toa Payoh warehouse where floor collapsed unaffected, says BCA

The Toa Payoh warehouse where a unit’s mezzanine floor collapsed on Jan 28 is structurally safe, the Building and Construction Authority (BCA) has said. In response to a query from The Straits Times, a BCA spokesperson said: “The partial collapse of the steel platform and racking system did not affect the structural integrity of the building.”

https://www.straitstimes.com/singapore/structural-integrity-of-toa-payoh-warehouse-where-floor-collapsed-unaffected

https://www.channelnewsasia.com/singapore/mezzanine-floor-collapses-toa-payoh-warehouse-three-people-rescued-scdf-4901811

 

 

Singapore Economy

 

Businesses must stay resilient amid challenges in 2025: Gan Kim Yong

Businesses here must remain agile, nimble and resilient in the face of challenges that are likely to impact growth outlook in 2025.

https://www.businesstimes.com.sg/singapore/businesses-must-stay-resilient-amid-challenges-2025-gan-kim-yong

https://www.straitstimes.com/singapore/businesses-must-stay-resilient-amid-challenges-in-2025-gan-kim-yong

 

Budget 2025 may give firms support for long-term goals, but not short-term costs

Singapore’s companies can expect help in Budget 2025 – but not necessarily short-term goodies such as those that individuals might get in an election Budget, said observers.

https://www.businesstimes.com.sg/singapore/budget-2025-may-give-firms-support-long-term-goals-not-short-term-costs

 

Johor-Singapore SEZ: Will third time be the charm?

The formal launch of the Johor-Singapore Special Economic Zone (JS-SEZ) has generated a flurry of interest from businesses and industry stakeholders keen to be part of what many are calling a “game changer” in economic cooperation between the two neighbours.

https://www.businesstimes.com.sg/opinion-features/johor-singapore-sez-will-third-time-be-charm

 

 

Global Economy & Real Estate

 

US Federal Reserve pauses rate cuts, will ‘wait and see’ on Trump policies

https://www.businesstimes.com.sg/international/us-federal-reserve-pauses-rate-cuts-will-wait-and-see-trump-policies

https://www.straitstimes.com/business/economy/us-fed-pauses-rate-cuts-resisting-trump-pressure

 

Big central banks start 2025 heading in different directions

https://www.channelnewsasia.com/business/big-central-banks-start-2025-heading-different-directions-4906546

 

Import surge seen curbing US economic growth in fourth quarter

https://www.businesstimes.com.sg/international/import-surge-seen-curbing-us-economic-growth-fourth-quarter

 

Blackstone set for New York office comeback with Midtown tower

https://www.businesstimes.com.sg/property/blackstone-set-new-york-office-comeback-midtown-tower

 

Goldman venture buys US$300 million of warehouses from Blackstone

https://www.businesstimes.com.sg/property/goldman-venture-buys-us300-million-warehouses-blackstone

 

Australians are among the most frustrated in the world over housing: survey

https://www.businesstimes.com.sg/property/australians-are-among-most-frustrated-world-over-housing-survey

 

Asean readies for Trump’s tariffs tantrums, trade turmoil

https://www.businesstimes.com.sg/international/asean/asean-readies-trumps-tariffs-tantrums-trade-turmoil

 

Chinese tourists in Singapore increasingly looking for experiences, free and easy travel

https://www.channelnewsasia.com/singapore/chinese-tourists-singapore-experiences-free-and-easy-travel-changing-habits-4905301

 

Chinese tourists, wary of Thailand, plan other stops for Lunar New Year travel

https://www.scmp.com/economy/china-economy/article/3296536/chinese-tourists-wary-thailand-plan-other-stops-lunar-new-year-travel

 

European Central Bank cuts rates to 2.75%, leaves room for more easing as growth lags

https://www.businesstimes.com.sg/international/european-central-bank-cuts-rates-2-75-leaves-room-more-easing-growth-lags

 

ECB to cut interest rates, keep door open to further easing

https://www.businesstimes.com.sg/companies-markets/banking-finance/ecb-cut-interest-rates-keep-door-open-further-easing

 

European office sales slumped to lowest since 2009 last year, data shows

https://www.businesstimes.com.sg/property/european-office-sales-slumped-lowest-2009-last-year-data-shows

https://www.straitstimes.com/business/property/european-office-sales-slumped-to-lowest-in-2024-since-2009-data-shows

 

Hong Kong central bank keeps base rate unchanged as Fed holds steady

https://www.businesstimes.com.sg/companies-markets/banking-finance/hong-kong-central-bank-keeps-base-rate-unchanged-fed-holds-steady

https://www.channelnewsasia.com/business/hong-kong-central-bank-keeps-base-rate-unchanged-fed-holds-steady-4905431

https://www.scmp.com/business/banking-finance/article/3296756/hong-kong-keeps-base-rate-steady-475-monetary-policy-takes-breather-after-3-cuts

 

Hong Kong restaurants expect 10% Lunar New Year boost to business

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3296821/hong-kongs-chinese-restaurants-welcome-lunar-new-year-10-income-growth

 

Hong Kong hotels’ Lunar New Year occupancy rates above 90% but few big spenders

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3296732/hong-kong-hotels-lunar-new-year-occupancy-rates-above-90-few-big-spenders

 

Hong Kong’s December mortgages shrink 21.1% as high rates drive homebuyers to sidelines

https://www.scmp.com/business/article/3296617/hong-kongs-december-mortgages-shrink-211-high-rates-drive-homebuyers-sidelines

 

Japan’s government interest costs to swell more than 50% in next few years

https://www.businesstimes.com.sg/international/japans-government-interest-costs-swell-more-50-next-few-years

 

BOJ will keep raising rates if economy on track, deputy governor Himino says

https://www.channelnewsasia.com/business/boj-will-keep-raising-rates-if-economy-track-deputy-governor-himino-says-4905726

 

Core consumer prices in Japan’s capital rises 2.5% yr/yr in January

https://www.channelnewsasia.com/business/core-consumer-prices-japans-capital-rises-25-yryr-january-4907481

 

New Zealand government outlines plans to double mineral exports by 2035

https://www.businesstimes.com.sg/international/new-zealand-government-outlines-plans-double-mineral-exports-2035

 

Philippine economic growth disappoints in 2024 as risks abound

https://www.businesstimes.com.sg/international/philippine-economic-growth-disappoints-2024-risks-abound

 

Thai economy seen growing 3% in 2025, finance ministry says

https://www.businesstimes.com.sg/international/asean/thai-economy-seen-growing-3-2025-finance-ministry-says

https://www.channelnewsasia.com/asia/thailands-economy-may-underperform-weak-consumption-warns-central-bank-chief-4905881

 

Faced with almost stagnant economy, UK’s Reeves promises all-out effort to kickstart growth

https://www.businesstimes.com.sg/international/faced-almost-stagnant-economy-uks-reeves-promises-all-out-effort-kickstart-growth

 

 

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