Singapore Real Estate
Land reclamation plan to create 800-ha ‘Long Island’ along Singapore’s east coast
Singapore will embark on a land reclamation project to create a “Long Island” on the eastern coast of Singapore, Minister for National Development Desmond Lee announced on Tuesday (Nov 28).
https://www.businesstimes.com.sg/singapore/land-reclamation-plan-create-800-ha-long-island-along-singapores-east-coast
https://www.straitstimes.com/singapore/long-island-to-be-reclaimed-off-east-coast-could-add-800ha-of-land-and-singapore-s-18th-reservoir
https://www.todayonline.com/singapore/reclaimed-long-island-will-be-about-twice-size-marina-bay-tripling-length-existing-east-coast-waterfront-desmond-lee-2313716
https://www.channelnewsasia.com/singapore/long-island-east-coast-park-unveiled-technical-studies-decades-long-project-ura-3947836
https://www.edgeprop.sg/property-news/reclaimed-%E2%80%98long-island%E2%80%99-east-coast-could-be-about-twice-size-marina-bay-desmond-lee
Reclaimed ‘Long Island’ off East Coast will likely house a mix of public and private properties: Analysts
Singapore: A mix of private and public properties with the potential for up to 60,000 new homes will likely be built on the upcoming “Long Island” reclaimed site at East Coast Park’s shoreline, property analysts told CNA.
https://www.channelnewsasia.com/singapore/long-island-east-coast-housing-property-market-price-impact-3950886
https://www.straitstimes.com/singapore/multi-pronged-reclamation-project-the-right-solution-to-meet-s-pore-s-long-term-needs-experts
GuocoLand’s Midtown office tower take-up rate hits 90%
Singapore – GuocoLand’s Guoco Midtown office tower in the Beach Road-Bugis district has reached a 90 per cent pre-commitment take-up for its 709,000 sq ft space, up from 80 per cent in January, when it achieved its temporary occupation permit.
https://www.straitstimes.com/business/property/guocoland-s-midtown-office-tower-take-up-rate-hits-90
Condo resale volumes recover in October while prices stay on uptrend
Condominium resale transactions were back on the growth track in October after the previous month’s volume decline. Based on flash data from SRX and 99.co, 838 units changed hands for the month, up 14.7 per cent from the 731 units resold in the previous month.
https://www.businesstimes.com.sg/property/condo-resale-volumes-recover-october-while-prices-stay-uptrend-srx-99co
https://www.straitstimes.com/business/property/condo-resale-volume-recovers-slightly-price-growth-slows-in-october
Arguments for fairness in the property trade
Developers’ profit margins have thinned considerably over the years, from up to a fat 50 per cent in the “super bull” run of 2007-2008 to margins in the low teens today. Recent macroeconomic chills from inflation and higher interest rates have added to demand dampeners from various iterations of market cooling measures.
https://www.businesstimes.com.sg/property/arguments-fairness-property-trade
Views, Reviews Forum and Others
Smaller-scale works caused majority of fatal and major injuries in construction sector
Singapore – Smaller-scale works such as renovations contributed to the highest number of fatal and major workplace injuries in the construction sector in the first half of 2023, said the Ministry of Manpower (MOM).
https://www.straitstimes.com/singapore/smaller-scale-works-caused-majority-of-fatal-and-major-injuries-in-construction-sector
Novavax Covid-19 vaccine no longer available in S’pore from 2024: MOH
Singapore – Eligible individuals who wish to receive their first dose of the Novavax Covid-19 vaccine must do so by Dec 1, the Ministry of Health (MOH) said in a statement on Nov 28.
https://www.straitstimes.com/singapore/novavax-covid-19-vaccine-no-longer-available-in-s-pore-from-2024-moh
https://www.todayonline.com/singapore/novavax-covid-19-vaccine-no-longer-available-singapore-2024-existing-stock-expire-year-end-2314531
https://www.channelnewsasia.com/singapore/moh-novavax-nuvaxovoid-covid-19-vaccine-no-longer-available-expire-december-31-3951396
Global Economy & Real Estate
Forced sales ahead for indebted global real estate markets: M&G
https://www.businesstimes.com.sg/property/forced-sales-ahead-indebted-global-real-estate-markets-mg
US retailers cheered by solid ‘Black Friday’ sales
https://www.businesstimes.com.sg/international/us-retailers-cheered-solid-black-friday-sales
US annual home price growth at 6.1% in September, FHFA says
https://www.businesstimes.com.sg/property/us-annual-home-price-growth-61-september-fhfa-says
US consumers more confident than expected in November
https://www.businesstimes.com.sg/international/us-consumers-more-confident-expected-november
Australia inflation slows more than expected in October
https://www.businesstimes.com.sg/international/australia-inflation-slows-more-expected-october
Australia’s October retail sales slip as consumers hold off for Black Friday sales
https://www.businesstimes.com.sg/international/australias-october-retail-sales-slip-consumers-hold-black-friday-sales
Investors agree to further redemptions delay at $2.1 billion Lendlease Australian property fund-source
https://www.channelnewsasia.com/business/investors-agree-further-redemptions-delay-21-billion-lendlease-australian-property-fund-source-3950396
China’s property lifeline exposes banks to big losses, job cuts
https://www.businesstimes.com.sg/property/chinas-property-lifeline-exposes-banks-big-losses-job-cuts
https://www.straitstimes.com/business/china-s-property-lifeline-exposes-banks-to-big-losses-job-cuts
ECB hikes pull business lending down for first time since 2015
https://www.businesstimes.com.sg/international/ecb-hikes-pull-business-lending-down-first-time-2015
Hong Kong’s October home prices drop to lowest since March 2017
https://www.businesstimes.com.sg/property/hong-kongs-october-home-prices-drop-lowest-march-2017
https://www.channelnewsasia.com/business/hong-kong-october-home-prices-drop-lowest-march-2017-3950061
https://www.scmp.com/business/article/3243059/hong-kongs-second-hand-home-prices-fall-lowest-march-2017-skid-set-continue-through-2024s-first-half
Nearly 60 Hong Kong public sector households also own private homes, crackdown on cheats finds
https://www.scmp.com/news/hong-kong/article/3243156/almost-60-hong-kong-public-sector-households-also-own-private-homes-crackdown-cheats-finds
Hong Kong looks to improve payment practices in construction sector with bill in works to fix cash-flow problems along supply chain
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3243148/hong-kong-looks-improve-payment-practices-construction-sector-bill-works-fix-cash-flow-problems
Bank of Japan governor gets 1.1% pay hike, below inflation
https://www.businesstimes.com.sg/international/bank-japan-governor-gets-11-pay-hike-below-inflation
https://www.channelnewsasia.com/business/japans-price-trend-gauge-hits-record-heightens-case-boj-exit-3950436
Sweden’s property owners need to cut debt further: watchdog
https://www.businesstimes.com.sg/property/swedens-property-owners-need-cut-debt-further-watchdog
Taiwan cuts 2023 GDP growth forecast to 1.42% on weak exports
https://www.businesstimes.com.sg/international/taiwan-cuts-2023-gdp-growth-forecast-142-weak-exports
https://www.straitstimes.com/business/economy/taiwan-cuts-2023-growth-outlook-to-lowest-since-financial-crisis
UK inflation more home-grown, says BOE Deputy Governor
https://www.businesstimes.com.sg/international/uk-inflation-more-home-grown-says-boe-deputy-governor
One in four UK homebuyers clinch discounts of more than 10%
https://www.businesstimes.com.sg/property/one-four-uk-homebuyers-clinch-discounts-more-10
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