Singapore Real Estate / Built Environment
Government may remove 15-month wait-out period when HDB resale prices begin to moderate: Chee Hong Tat
New National Development Minister to prioritise HDB flat affordability, supply
Expect ‘moderation’ in HDB resale flat prices when supply increases from next year: Chee Hong Tat
The government may review or remove the 15-month wait-out period imposed on private property owners seeking to downgrade, when prices of public housing resale flats begin to moderate, said Minister for National Development Chee Hong Tat on Wednesday (May 28).
https://www.zaobao.com.sg/news/singapore/story20250528-6500987
SLA launches tender to transform historic Moulmein Road site into lifestyle hub
The Singapore Land Authority (SLA) on Wednesday (May 28) launched a tender for the master tenancy of a cluster of state properties at 2 Moulmein Road. The tender, which closes on Aug 6, is for an allowable tenure for an initial period of five years, with an option to extend it for an additional four years.
https://www.zaobao.com.sg/news/singapore/story20250528-6503903
CapitaLand Ascendas Reit to buy Tai Seng data centre, Science Park building for S$700.2 million
CapitaLand Ascendas Real Estate Investment Trust (Clar) has entered conditional agreements to acquire two prime properties to expand its portfolio in Singapore, particularly in the technology sector, the manager said on Wednesday (May 28).
Temasek Shophouse to reopen by end-2025 with retail, community and social spaces
Temasek Shophouse, a social impact hub nested among a row of historical buildings in downtown Orchard, is set to reopen by the fourth quarter of this year. The hub, which first occupied the heritage building at 28 Orchard Road in 2019, has added three adjoining buildings to its premises, growing its space threefold to 6,400 sqm.
Singapore News
Singapore’s real wages rise at faster rate of 3.2% in 2024; more firms give salary bumps: MOM
Real wage growth in Singapore rose at a faster pace of 3.2 per cent in 2024 as nominal wage growth outpaced inflation, data from the Ministry of Manpower (MOM) showed on Wednesday (May 28).
https://www.channelnewsasia.com/singapore/real-wages-increased-inflation-mom-report-5153536
https://www.zaobao.com.sg/news/singapore/story20250528-6493129
Singapore households’ debt up, but assets growth more than keeps pace
Households in Singapore have been racking up more debt since the fourth quarter of 2023. Household balance sheet numbers from the Singapore Department of Statistics (SingStat) on Monday (May 26) showed that liabilities grew for the sixth straight quarter, rising 5.2 per cent in the first quarter of 2025 from the same period a year ago to S$384.1 billion.
https://www.businesstimes.com.sg/singapore/singapore-households-debt-assets-growth-more-keeps-pace
Business News
Two in five businesses expect economy to worsen in the year ahead: SBF survey
The business outlook has weakened considerably amid growing uncertainty, based on the latest quarterly Singapore Business Federation (SBF) survey released on Wednesday (May 28). Some 40 per cent of respondents expect the economy to worsen in the next 12 months – nearly double the 22 per cent who thought so in Q4 2024, the National Business Survey 2025 – Singapore Budget Edition found.
https://www.zaobao.com.sg/finance/singapore/story20250528-6501360
Singapore firms less optimistic of growth in international trade, but plan to deepen links with Asean, India: HSBC study
Nearly nine out of 10 Singapore-based businesses say they are rethinking their long-term business models and planned investments in light of the recent tariff turmoil, according to HSBC’s 2025 Global Trade Pulse Survey.
https://www.zaobao.com.sg/finance/singapore/story20250528-6499520
Other News
S’pore monitoring impact of Trump administration’s ban on Harvard enrolling foreign students
ingapore is monitoring the impact on the academic prospects of Singaporean students after the Trump administration terminated Harvard University’s right to host and enrol foreign students and scholars, the Ministry of Foreign Affairs (MFA) said on May 27.
Traffic delays, vehicle security checks expected in Orchard Road areas during Shangri-La Dialogue
Motorists should avoid roads near the Shangri-La Singapore hotel from May 29 to June 1, and those around The St Regis Singapore hotel on May 31. This is because the Shangri-La Dialogue will be held at the Shangri-La Singapore from May 30 to June 1, with the reception and dinner at The St Regis Singapore.
https://www.zaobao.com.sg/realtime/singapore/story20250527-6487999
Global Economy / Real Estate News
US firms plan to pass Trump tariff costs to consumers: Federal Reserve minutes
US Fed minutes saw rising inflation, jobless risks as of May meeting
More than 200 jobs cut at International Labour Organization as US slashes funding
US reciprocal tariffs could fall to 10% after talks – except for China: Citigroup chief economist
Trump says Fannie Mae to keep US guarantee as public firm
https://www.businesstimes.com.sg/property/trump-says-fannie-mae-keep-us-guarantee-public-firm
Australia’s monthly CPI higher than estimates, Aussie edges up
https://www.businesstimes.com.sg/international/australias-monthly-cpi-higher-estimates-aussie-edges
China deflation worry deepens among economists after trade truce
China-led development lender said to be planning Singapore, HK offices
German landlord Aroundtown looks to convert offices into data centres
Hong Kong home prices snap falling streak in April
https://www.businesstimes.com.sg/property/hong-kong-home-prices-snap-falling-streak-april
Hong Kong’s Gale Well continues asset-sale plan with US$66 million luxury Stanley property
Hong Kong bankers on edge over US$11 billion New World refinancing
Indonesia rolls out discounts and perks to boost consumer spending, but do measures miss the mark?
New Zealand central bank cuts cash rate by 25 bps
Taiwan trims 2025 GDP growth forecast, cites US tariffs uncertainty
Thailand PM presents 3.78 trillion baht budget to parliament to support lacklustre economy
IMF warns UK to keep budget in check or risk market revolt
https://www.businesstimes.com.sg/international/imf-warns-uk-keep-budget-check-or-risk-market-revolt
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