Singapore Real Estate / Built Environment
More pre-WWII former government quarters in Little India to be used for housing
Two rows of colonial-era terraced houses in Little India have been set aside for residential use, as Singapore’s urban planners look to provide more varied types of housing in the heart of the city.
https://www.businesstimes.com.sg/property/more-pre-wwii-former-government-quarters-little-india-be-used-housing
https://www.straitstimes.com/singapore/housing/more-former-pre-wwii-government-quarters-in-little-india-to-be-used-for-housing
Pick listed property equities over an investment home
Recent new condo launches, led by Emerald of Katong and Chuan Park, have fared well. As interest rates fall and buying sentiment in the private-home market improves, is buying an investment home a no-brainer provided one need not pay a hefty Additional Buyer’s Stamp Duty (ABSD), has funds for the down payment and can access debt funding if needed?
https://www.businesstimes.com.sg/opinion-features/pick-listed-property-equities-over-investment-home
Barclays: Singapore’s housing boom could trigger tougher cooling measures if not curbed by early next year
Singapore’s property market performed red-hot in November, and analysts warned that the government may have to take more aggressive cooling measures if the current buying frenzy is not curbed by early next year.
https://www.zaobao.com.sg/realtime/singapore/story20241202-5444110
https://www.edgeprop.sg/property-news/singapore-may-need-more-%E2%80%98aggressive%E2%80%99-property-cooling-measures-barclays
https://www.bloomberg.com/news/articles/2024-12-02/singapore-seen-facing-harsh-property-curbs-if-boom-isn-t-tackled
Singapore Economy
Singapore PMI up 0.2 point in November, echoes improved regional factory activity
Singapore’s overall factory activity rose in November, mirroring a region-wide improvement in manufacturing sentiment. The Purchasing Managers’ Index went up to 51 last month, an improvement of 0.2 point from October, which registered a marginal dip, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Monday (Dec 2).
https://www.businesstimes.com.sg/singapore/singapore-pmi-0-2-point-november-echoes-improved-regional-factory-activity
https://www.straitstimes.com/business/spore-manufacturing-sector-joins-regional-race-to-get-ahead-of-trumps-proposed-tariffs
MOF launches open call for feedback on Singapore Budget 2025
The Ministry of Finance (MOF) on Monday (Dec 2) announced an open call for public feedback for Budget 2025, which is scheduled to be presented in February 2025. The Budget is prepared for each financial year, which begins on April 1 and ends on March 31 the following year.
https://www.businesstimes.com.sg/companies-markets/mof-launches-open-call-feedback-singapore-budget-2025
https://www.straitstimes.com/singapore/budget-2025-singaporeans-can-share-their-views-from-dec-2-to-jan-12
https://www.channelnewsasia.com/singapore/budget-2025-singaporeans-invited-share-views-4781331
https://www.zaobao.com.sg/realtime/singapore/story20241202-5438677
Business News
CapitaLand Malaysia Trust to acquire Selangor logistics property for RM180 million
CapitaLand Malaysia Trust (CLMT), a subsidiary of CapitaLand Investment has entered into a sale-and-purchase agreement to acquire a freehold automated logistics property in Selangor, Malaysia, for RM180 million (S$54.2 million), the trust’s manager said on Monday (Dec 2).
https://www.businesstimes.com.sg/companies-markets/capitaland-malaysia-trust-acquire-selangor-logistics-property-rm180-million
ESR-Logos Reit to be renamed ESR Reit
ESR-Logos Real Estate Investment Trust will be renamed ESR Reit from Dec 4 onwards. The registered name of the manager will also be changed from ESR-Logos Funds Management to ESR-Reit Management with effect from Dec 4.
https://www.businesstimes.com.sg/companies-markets/esr-logos-reit-be-renamed-esr-reit
Keppel DC Reit launches preferential offering at S$2.03 apiece
The manager of Keppel DC Real Estate Investment Trust (Reit) on Monday (Dec 2) announced the launch of its preferential offering for 148.4 million new units at an issue price of S$2.03 apiece.
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-launches-preferential-offering-s2-03-apiece
https://www.zaobao.com.sg/realtime/singapore/story20241202-5445535
Global Economy & Real Estate
Fed’s Waller says inclined at this point to cut rates in December
https://www.straitstimes.com/business/feds-waller-says-inclined-at-this-point-to-cut-rates-in-december
US manufacturing improves in November as orders rebound, input price gains slow
https://www.businesstimes.com.sg/international/us-manufacturing-improves-november-orders-rebound-input-price-gains-slow
https://www.straitstimes.com/business/economy/us-manufacturing-contracts-at-slow-pace-input-price-growth-cools
Australian retail sales strengthen in positive sign for holidays
https://www.businesstimes.com.sg/international/australian-retail-sales-strengthen-positive-sign-holidays
Wheels up for intra-Asean travel: Singapore consumers’ regional spending outpaces other overseas expenditures
https://www.businesstimes.com.sg/international/asean/wheels-intra-asean-travel-singapore-consumers-regional-spending-outpaces-other-overseas-expenditures
Asia’s factories perk up on China recovery but Trump risks loom
https://www.businesstimes.com.sg/international/global/asias-factories-perk-china-recovery-trump-risks-loom
New US solar tariffs on Southeast Asia to raise prices, cut profit margins
https://www.channelnewsasia.com/business/new-us-solar-tariffs-southeast-asia-raise-prices-cut-profit-margins-4782141
Chinese economist calls for confidence, says GDP target should remain 5% in 2025
https://www.scmp.com/economy/china-economy/article/3288956/chinese-economist-calls-confidence-says-gdp-target-should-remain-5-2025
Eurozone November factory activity fell sharply, outlook gloomy: PMI
https://www.businesstimes.com.sg/international/eurozone-november-factory-activity-fell-sharply-outlook-gloomy-pmi
Hong Kong doubles this year’s deficit forecast to $12.9 billion
https://www.channelnewsasia.com/business/hong-kong-doubles-years-deficit-forecast-129-billion-4781786
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288918/hong-kong-government-deficit-balloon-hk100-billion-2024-25-paul-chan
Golf club reprieve as Hong Kong court overturns approval for 12,000 flats on course
https://www.scmp.com/news/hong-kong/society/article/3288988/hong-kong-court-overturns-conditional-approval-building-12000-flats-golf-course
Should Hong Kong raise taxes and cut costs to rein in HK$100 billion deficit?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3289047/should-hong-kong-raise-taxes-and-cut-costs-rein-hk100-billion-deficit?module=top_story&pgtype=subsection
Landlords warned over evictions as Hong Kong subdivided-flat consultation starts
https://www.scmp.com/news/hong-kong/society/article/3289042/landlords-warned-over-evictions-hong-kong-subdivided-flat-consultation-starts
New World CEO Huang has task cut out to set Hong Kong developer’s house in order
https://www.scmp.com/business/companies/article/3288986/new-world-ceo-huang-has-task-cut-out-set-hong-kong-developers-house-order
Japanese bank Resona says inflation is boosting SME loan demand, pay hikes
https://www.channelnewsasia.com/business/japanese-bank-resona-says-inflation-boosting-sme-loan-demand-pay-hikes-4781941
Japan’s factory activity falls at fastest pace in 8 months: PMI
https://www.straitstimes.com/business/economy/japans-factory-activity-falls-at-fastest-pace-in-8-months-pmi
The Philippines tweaks 2024 GDP growth target, revises outlook for 2025-2028
https://www.businesstimes.com.sg/international/asean/philippines-tweaks-2024-gdp-growth-target-revises-outlook-2025-2028
https://www.channelnewsasia.com/business/philippines-tweaks-2024-gdp-growth-target-revises-outlook-2025-2028-4782246
Seattle developer defaults on renovated downtown office towers
https://www.businesstimes.com.sg/property/seattle-developer-defaults-renovated-downtown-office-towers
South Korea inflation picks up less than expected in sign of stability
https://www.businesstimes.com.sg/international/south-korea-inflation-picks-less-expected-sign-stability
UK retailers report weakest sales since April: BRC survey
https://www.businesstimes.com.sg/international/uk-retailers-report-weakest-sales-april-brc-survey
UK house prices up by most since March 2022
https://www.businesstimes.com.sg/property/uk-house-prices-most-march-2022
St James’s Place to cut around 500 jobs, source says
https://www.businesstimes.com.sg/companies-markets/st-jamess-place-cut-around-500-jobs-source-says
Vietnam’s premier aims for about 8% economic growth in 2025
https://www.businesstimes.com.sg/international/asean/vietnams-premier-aims-about-8-economic-growth-2025
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