The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 29 & 30 Jan 2023 (Sun & Mon)

Singapore Real Estate


Former school site in Toa Payoh earmarked for high-rise housing development
More homes are set to be built in Toa Payoh, with a high-rise housing development expected to take the place of an empty school site in the western part of the town.


S’pore private rental prices jump 30% in 2022, fastest pace in 15 years; experts expect slower rise in 2023
Rental prices for private housing in Singapore shot up by nearly 30 per cent last year, the biggest jump since 2007, which was the year a heady run-up in United States’ housing prices collapsed and set off the global financial crisis.


Proportion of delayed BTO projects down from 90% to 40%, HDB to clear backlog in two years
About 40 per cent of ongoing Build-To-Order (BTO) projects are delayed owing to the Covid-19 pandemic, and the Housing and Development Board (HDB) said it expects to clear the backlog in about two years.



Singapore Economy


Manpower moves to watch in Budget 2023
Besides unemployment support, other possible manpower announcements in Budget 2023 include enhancements to a scheme for the lower-income and tweaks to the Central Provident Fund (CPF) framework.


Singapore could introduce unemployment support as early as Budget 2023
Budget 2023 — to be delivered in Parliament on Feb 14 — could include unemployment support for retrenched workers, though this may only cover a fixed period of joblessness and be for vulnerable workers, said economists.


S’pore sees 64,000 new businesses set up and 50,000 closed in 2022
When Covid-19 and political instability struck Myanmar a few years ago, Mr David Chen and his team knew that they had to pivot the rice production company he co-founded.


Seniors, caregivers of elderly patients to get more support under new national plan for successful ageing
Caregivers of elderly folk, and seniors themselves, can look forward to receiving more support from a new plan launched on Monday (Jan 30).



Companies’ Brief


CapitaLand Ascott Trust’s H2 DPS rises 47% to S$0.0333 on higher profit
CapitaLand Ascott Trust on Monday (Jan 30) reported a 47 per cent increase in distribution per stapled security (DPS) to S$0.0333 for the half year ended Dec 31, 2022, from S$0.0227 the previous year.


CDL Hospitality Trusts’ H2 DPS up 17.3% to S$0.0359 on continued global travel recovery
CDL Hospitality Trusts’ (CDLHT) distribution per stapled security (DPS) rose 17.3 per cent to S$0.0359 for the second half of 2022 ended December, from S$0.0306 a year ago.



Global Economy & Real Estate


Rapidly cooling housing market helps to quell Canadian inflation


UK wage inflation points to another big rate hike this week


UK business optimism at six-month high despite recession risk


Global central banks preaching on pay are enforcing squeeze too


China central bank to roll over lending tools to spur growth


Vietnam walks tightrope between meeting net-zero targets and pursuing economic growth


Philippines to offer value-added tax refund to foreign tourists by 2024


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Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.

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