Singapore Real Estate
Pent-up leasing demand for new offices may be unleashed in H2 2024
Most property consultants are expecting Singapore Central Business District (CBD) Grade A office rents to post another year of modest growth in 2024, amid substantial islandwide completion of nearly 3 million square feet (sq ft) of new office space and cautious business sentiment.
https://www.businesstimes.com.sg/property/pent-leasing-demand-new-offices-may-be-unleashed-h2-2024
HDB resale prices rising in past 4 years, outpacing private home price growth in 2020, 2021
Singapore – Median resale Housing Board flat prices have been rising steadily in the past four years, even outpacing the growth in median resale and new private home prices in 2020 and 2021, analysts say.
Singapore Economy
PM Lee urges public not to respond to deepfake AI videos featuring him or Lawrence Wong ‘promoting’ crypto
Singapore — Prime Minister Lee Hsien Loong has urged the public not to respond to deepfake videos of him promising guaranteed returns on investments after one such video emerged on social media platforms in recent days.
950,000 HDB households to receive U-Save and S&CC rebates in January
About 950,000 Singaporean households living in Housing Board flats will receive rebates in January to defray the scheduled hike in goods and services tax (GST), carbon tax and price of water in 2024.
Singapore’s 2024 tourism performance hinges on return of China travellers
Singapore’s tourism recovery continued apace in 2023, with 12.37 million arrivals in the first 11 months – almost double the 6.31 million full-year 2022 figure. Yet, this is far from the 19.12 million visitors in pre-pandemic 2019, and market watchers said that China is the missing piece.
Household electricity, gas bills to continue climb in Q1 on higher tariffs, GST increase
Household bills for electricity and gas are set to rise in the first quarter of 2024 amid rising energy costs, a jump in the carbon tax and the upcoming increase in goods and services tax (GST).
https://www.channelnewsasia.com/singapore/electricity-tariff-bill-go-january-march-sp-group-4015956
Olivier Lim to succeed Chaly Mah as STB chairman
After seven years at the helm of the Singapore Tourism Board (STB), chairman Chaly Mah will be relinquishing his appointment to be succeeded by Olivier Lim, who was appointed deputy chairman in January 2023.
https://www.businesstimes.com.sg/companies-markets/olivier-lim-succeed-chaly-mah-stb-chairman
Global Economy & Real Estate
2024 will herald the end of a race to the bottom in corporate tax rates
US mortgage rates fall to lowest since May, dropping to 6.61%
https://www.businesstimes.com.sg/property/us-mortgage-rates-fall-lowest-may-dropping-661
China’s Dec factory activity contracted more than expected
How China’s property crisis blew up bets that couldn’t lose
https://www.businesstimes.com.sg/property/how-chinas-property-crisis-blew-bets-couldnt-lose
China property: ordinary buyers eye foreclosed homes at heavy discounts as investors retreat from market
Signa Development files for insolvency with US$1.3 billion in debts
https://www.businesstimes.com.sg/property/signa-development-files-insolvency-us13-billion-debts
Hong Kong deficit balloons to HK$164.1 billion for first 8 months of financial year
Hong Kong authorities take owners of 20 old buildings to court over slow response to inspection orders
Gaia Series 23 : Japan’s Real Estate Is Changing Drastically
Keeping it in the family: Malaysia’s multi-generation businesses seek growth opportunities abroad
South Korea pledges support to prevent contagion from a builder’s woes
UK consumers to cut back in 2024, adding to recession risk
https://www.businesstimes.com.sg/international/uk-consumers-cut-back-2024-adding-recession-risk
UK house prices slide 1.8% in 2023, defying crash forecast
https://www.businesstimes.com.sg/property/uk-house-prices-slide-18-2023-defying-crash-forecast
Vietnam 2023 economic growth slows to 5.05% as exports fall
https://www.channelnewsasia.com/business/vietnam-2023-economic-growth-slows-505-exports-fall-4015791
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