Singapore Real Estate/Built Environment
Private home prices flatten further, edging up 1.1% in Q2
Prices of private homes in Singapore saw a smaller increase of 1.1 per cent in the second quarter of 2024, as the price index inched up amid low sales volume in recent months, according to flash estimates from the Urban Redevelopment Authority (URA) released on Monday (Jul 1).
https://www.businesstimes.com.sg/property/private-home-prices-flatten-further-edging-1-1-q2
https://www.bloomberg.com/news/articles/2024-07-01/singapore-home-prices-rise-again-defying-sales-slowdown
Singapore loses last 18-hole public golf course to redevelopment
Singapore closes its last public 18-hole golf course this weekend, with the Marina Bay site overlooking the financial hub’s skyline succumbing to the government’s drive to redevelop land.
https://www.businesstimes.com.sg/property/singapore-loses-last-18-hole-public-golf-course-redevelopment
https://www.scmp.com/news/asia/southeast-asia/article/3268634/singapore-closes-last-18-hole-public-golf-course-make-way-homes
Can newer business parks be viable when older ones are grappling with rising vacancies?
Vacant spaces, dusty “for rent” signs and a distinct lack of human traffic – hardly a good look for real estate marketed as a modern business campus. Yet the reality facing Singapore’s older business parks seems grim, raising concerns over planning for and viability of even newer properties.
https://www.businesstimes.com.sg/property/can-newer-business-parks-be-viable-when-older-ones-are-grappling-rising-vacancies
HDB resale prices up 2.1% in Q2, marking fastest quarterly rise since 2022
Housing and Development Board (HDB) resale prices booked their fastest quarterly rise since 2022 amid a rise in demand and tighter supply.
https://www.businesstimes.com.sg/property/hdb-resale-prices-2-1-q2-marking-fastest-quarterly-rise-2022
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-up-21-in-q2-amid-firm-demand-tight-supply
Singapore’s BTO public housing: homewrecker or dealmaker as some couples tie knot for flats?
Singaporean Rebecca* was in a relationship with her boyfriend for around four years when she decided it was time for them to buy a public housing flat together, a rite of passage for most citizens who aspire to become homeowners and settle down.
https://www.scmp.com/week-asia/lifestyle-culture/article/3268471/singapores-bto-public-housing-homewrecker-or-dealmaker-some-couples-tie-knot-flats
Singapore Economy
Singapore looking forward to strengthening links with Malaysia over next 100 years: PM Wong
Singapore is looking forward to “more win-win projects” with Malaysia, said Prime Minister Lawrence Wong in a Facebook post on the 100th anniversary of the Johor-Singapore Causeway on Friday (Jun 28).
https://www.businesstimes.com.sg/international/singapore-looking-forward-strengthening-links-malaysia-over-next-100-years-pm-wong
https://www.straitstimes.com/singapore/looking-forward-to-strengthening-singapore-m-sia-s-links-for-the-next-100-years-pm-wong
Gas and electricity prices to increase from July to September
Gas and electricity tariffs will rise for the next three months. From Jul 1 to Sep 30, those supplied by grid operator SP Group will see a 0.3 per cent increase in electricity tariffs compared with the previous quarter, the group said in a statement on Friday (Jun 28).
https://www.businesstimes.com.sg/singapore/gas-and-electricity-prices-increase-july-september
https://www.straitstimes.com/singapore/gas-and-electricity-price-to-increase-from-july-to-september
https://www.todayonline.com/news/higher-household-electricity-and-gas-tariffs-july-september-2449556
https://www.channelnewsasia.com/singapore/higher-household-electricity-gas-tariffs-july-september-sp-group-city-energy-4442256
Singapore’s Gardens By The Bay is 8th best attraction in the world, according to Tripadvisor
Singapore’s Gardens By The Bay has been named eighth best attraction in the world on Tripadvisor’s Traveler’s Choice Awards Best Of The Best 2024. Rated 4.5 out of five stars from over 60,000 reviews, the tourist destination has been described by travellers as “well worth the visit” and “mesmerising”.
https://cnalifestyle.channelnewsasia.com/travel/gardens-bay-singapore-tripadvisor-best-attraction-392541
https://www.straitstimes.com/singapore/gardens-by-the-bay-lights-up-in-red-and-white-to-celebrate-12th-birthday-and-tripavisor-win
Singapore has world’s most powerful passport – ahead of Japan, US
Singapore is in the top spot with its passport, which allows holders to travel to 195 countries without first securing a visa. Japan had previously held the No. 1 position but has since fallen to No. 2, joining France, Germany, Italy, and Spain, which all allow access to 194 countries.
https://www.scmp.com/news/asia/southeast-asia/article/3268536/singapore-has-worlds-most-powerful-passport-ahead-japan-us-8th-henley-passport-index
Business News
Tuan Sing terminates hotel management agreements for Hyatt Regency Perth Hotel
Tuan Sing Holdings 5IC 0.00% announced, on July 1, that it has terminated its hotel management agreements for Hyatt Regency Perth Hotel.
https://www.theedgesingapore.com/news/company-news/tuan-sing-terminates-hotel-management-agreements-hyatt-regency-perth-hotel
Frasers Centrepoint Trust’s manager appoints new chief financial officer
The manager of Frasers Centrepoint Trust (FCT) on Thursday (Jun 27) named Annie Khung as its chief financial officer (CFO). With effect from Aug 9, she succeeds Audrey Tan, who completes her tenure the day before.
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trusts-manager-appoints-new-chief-financial-officer
Views, Reviews, Forum and Others
Ulu Pandan Park Connector in Clementi fully reopened following landslide in 2022
Singapore – The Ulu Pandan Park Connector in Clementi was fully reopened on June 30 after a landslide that piled soil onto the pathway and into the canal in September 2022.
https://www.straitstimes.com/singapore/ulu-pandan-park-connector-at-clementi-fully-reopened-following-landslide-in-2022
https://www.channelnewsasia.com/singapore/ulu-pandan-park-connector-clementi-landslide-reopens-northarc-bto-hdb-4446226
Quality of migrant worker recreation centres in Singapore to be improved
Singapore – On his day off every week, Bangladeshi lorry driver Based Mohammad Abdul heads to the migrant worker recreation centre in Tuas South to shop for groceries.
https://www.straitstimes.com/singapore/quality-of-migrant-worker-recreation-centres-in-singapore-to-be-improved
https://www.channelnewsasia.com/singapore/migrant-worker-recreation-centres-ntuc-mom-government-grant-4440651
Unexploded World War II relic removed from Ang Mo Kio construction site
Singapore: An unexploded World War II ordnance was removed on Friday (Jun 28) from a construction site in Ang Mo Kio, where the future Teck Ghee MRT station will be built. The police said the war relic was discovered during excavation works at a site along Ang Mo Kio Avenue 1 towards Marymount Road.
https://www.channelnewsasia.com/singapore/world-war-2-relic-unexploded-ordnance-ang-mo-kio-construction-site-removed-4445251
Global Economy & Real Estate
Fed’s rate-cut delay won’t hold back the tide of global easing
https://www.businesstimes.com.sg/international/global/feds-rate-cut-delay-wont-hold-back-tide-global-easing
US dollar slightly weaker on declining inflation
https://www.businesstimes.com.sg/companies-markets/us-dollar-slightly-weaker-declining-inflation
US economy shows further signs of slowing under high interest rates
https://www.straitstimes.com/business/us-economy-shows-further-signs-of-slowing-under-high-interest-rates
US consumer sentiment falls by less than initially estimated
https://www.businesstimes.com.sg/international/us-consumer-sentiment-falls-less-initially-estimated
https://www.straitstimes.com/business/economy/us-inflation-cools-in-may-consumer-spending-rises-moderately
Australia Treasurer confident Jul 1 tax cuts will not stoke inflation
https://www.businesstimes.com.sg/international/australia-treasurer-confident-jul-1-tax-cuts-will-not-stoke-inflation
Australia’s resources earnings to ease over next two years from 2022 peak
https://www.businesstimes.com.sg/international/australias-resources-earnings-ease-over-next-two-years-2022-peak
Australia home prices keep climbing on tight supply
https://www.businesstimes.com.sg/property/australia-home-prices-keep-climbing-tight-supply
Sydney home values climb to record as supply stays constrained
https://www.businesstimes.com.sg/property/sydney-home-values-climb-record-supply-stays-constrained
China factory activity shrinks again in warning to economy
https://www.businesstimes.com.sg/international/china-factory-activity-shrinks-again-warning-economy
https://www.straitstimes.com/business/economy/china-factory-activity-shrinks-again-in-warning-to-economy
https://www.scmp.com/economy/economic-indicators/article/3268599/chinas-factory-activity-contracts-second-straight-month?module=top_story&pgtype=subsection
China’s elder economy hits US$2 trillion in value – and industry is only just maturing
https://www.scmp.com/economy/china-economy/article/3268480/chinas-elder-economy-hits-us2-trillion-value-and-industry-only-just-maturing?module=top_story&pgtype=section
China’s property crisis raises questions of overseas spillover after US Congress hearing
https://www.scmp.com/economy/china-economy/article/3268509/chinas-property-crisis-raises-questions-overseas-spillover-after-us-congress-hearing?module=top_story&pgtype=section
China’s slump in home sales slows after cities ease policy
https://www.businesstimes.com.sg/property/chinas-slump-home-sales-slows-after-cities-ease-policy
ECB wants countries to raise, not cut bank capital buffers
https://www.businesstimes.com.sg/international/ecb-wants-countries-raise-not-cut-bank-capital-buffers
Hong Kong enjoys ‘competitive advantages’ over Singapore in global talent race: Paul Chan
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3268325/hong-kong-enjoys-competitive-advantages-over-singapore-global-talent-race-paul-chan
A quarter of Hong Kong companies plan cuts in office space, up from 2023, says Colliers
https://www.scmp.com/business/article/3268569/quarter-hong-kong-companies-plan-cuts-office-space-2023-says-colliers?module=top_story&pgtype=subsection
Hong Kong retail property market charged up eyeing Chinese EV makers’ expansion plans
https://www.scmp.com/business/article/3268477/hong-kong-retail-property-market-charged-eyeing-chinese-ev-makers-expansion-plans
Japan’s land prices rise at fastest pace since 2010, tax agency says
https://www.channelnewsasia.com/business/japans-land-prices-rise-fastest-pace-2010-tax-agency-says-4447756
Japan big manufacturers’ mood improves to 2-year high, BOJ tankan shows
https://www.channelnewsasia.com/business/japan-big-manufacturers-mood-improves-2-year-high-boj-tankan-shows-4447546
https://www.businesstimes.com.sg/international/global/japans-june-factory-activity-unchanged-amid-higher-costs-pmi
Japan downgrades Q1 GDP on construction data corrections
https://www.channelnewsasia.com/business/japan-downgrades-q1-gdp-construction-data-corrections-4447541
https://www.businesstimes.com.sg/international/global/japan-downgrades-q1-gdp-construction-data-corrections
https://www.straitstimes.com/business/japan-s-economy-shrank-more-than-estimated-in-first-quarter
Saudi developer Dar Global eyes US$300 million investment in US expansion
https://www.businesstimes.com.sg/property/saudi-developer-dar-global-eyes-us300-million-investment-us-expansion
South Korea June exports log ninth month of growth, misses forecasts
https://www.channelnewsasia.com/business/south-korea-june-exports-log-ninth-month-growth-misses-forecasts-4447571
South Korea’s factory activity sees fastest growth in 26 months on rising demand
https://www.businesstimes.com.sg/international/global/south-koreas-factory-activity-sees-fastest-growth-26-months-rising-demand
https://www.straitstimes.com/business/south-korea-factory-activity-sees-fastest-growth-in-26-months-on-rising-demand
UK economy grew faster than expected as consumers spent more
https://www.businesstimes.com.sg/international/uk-economy-grew-faster-expected-consumers-spent-more
London’s competitive luxury real estate developers up the ante with Botox, weight-loss drugs
https://www.businesstimes.com.sg/property/londons-competitive-luxury-real-estate-developers-ante-botox-weight-loss-drugs
Billionaire Arnault said to join race for Signa’s Venice hotel
https://www.businesstimes.com.sg/property/billionaire-arnault-said-join-race-signas-venice-hotel
Vietnam Q2 GDP growth accelerates; inflation pressure rises
https://www.channelnewsasia.com/business/vietnam-q2-gdp-growth-accelerates-inflation-pressure-rises-4444841
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