DAILY NEWS

Daily News – 30 Sep 2022 (Fri)

SINGAPORE REAL ESTATE

New cooling measures: Tighter housing loans, 15-month wait for private home owners to buy HDB flats
Singapore – The maximum amount of money home buyers can borrow to purchase their homes will be tightened with immediate effect, so that borrowers avoid future difficulties in servicing those loans.
https://www.straitstimes.com/business/property/stricter-borrowing-criteria-for-property-buyers-15-month-wait-for-private-property-owners-moving-to-hdb-flats
https://www.businesstimes.com.sg/real-estate/housing-loan-limits-including-for-hdb-loans-tightened-in-fresh-measures-to-cool-property
https://www.todayonline.com/singapore/property-cooling-measures-govt-announces-tighter-loan-rules-private-home-owners-cant-buy-hdb-resale-flats-15-months-2006996
https://www.channelnewsasia.com/singapore/singapore-property-cooling-measures-loan-borrowing-criteria-hdb-ltv-limit-15-month-wait-out-period-2974776

Chuan Park owners headed for mediation over en bloc sale; Senior Counsel appointed
Representatives of Chuan Park owners are set to meet for their first mediation session on Oct 18, to see if they can resolve disagreements over the condominium’s en bloc sale. The Business Times (BT) understands that the Collective Sale Committee (CSC) representing the majority owners have appointed Senior Counsel N Sreenivasan of K&L Gates Straits Law to assist them in the mediation.
https://www.businesstimes.com.sg/real-estate/chuan-park-owners-headed-for-mediation-over-en-bloc-sale-senior-counsel-appointed

Singapore hotels’ average room rate, revenues in August slip from July highs
Singapore hotels’ average room rate (ARR) dipped in August from July’s near-decade high to come in at S$248.34, though it was still significantly higher than year-ago levels, according to the latest data from the Singapore Tourism Board (STB).
https://www.businesstimes.com.sg/government-economy/singapore-hotels-average-room-rate-revenues-in-august-slip-from-july-highs

SINGAPORE ECONOMY

Innovation, collaboration can get global economy out of today’s crisis: Tharman
Singapore – Innovation within and collaboration among nations can ensure that the global economy comes out of the current economic crisis intact, said Senior Minister Tharman Shanmugaratnam on Thursday.
https://www.straitstimes.com/business/economy/innovation-collaboration-can-get-global-economy-out-of-todays-crisis-tharman

Economists split on whether MAS tightening in October will be single or ‘double-barrelled’ move
Economists are split on the extent of policy tightening at the Monetary Authority of Singapore’s (MAS) next decision in October, but agree that it is likely to coincide with flash estimates of third quarter economic growth, rather than preceding those figures.
https://www.businesstimes.com.sg/government-economy/economists-split-on-whether-mas-tightening-in-october-will-be-single-or-double

How Singapore’s monetary policy works
The Monetary Authority of Singapore’s (MAS) goal is to ensure price stability as a basis for sustainable economic growth. When inflation is low and stable, there is less uncertainty about returns on long-term investments, and firms can plan further ahead. It also helps to ensure a competitive export industry.
https://www.businesstimes.com.sg/infographics/how-singapores-monetary-policy-works-1

VIEWS, REVIEWS, FORUM AND OTHERS

F1 Road Closures From Sep 28 To Oct 4 To Take Note Of — & The Best Ways To Get To The Singapore GP
After a pandemic induced pause, Formula One is finally back in Singapore. And with that comes not only a slew of glam F1 parties and cool events happening during the Grand Prix Singapore Season, but also seven days of road closures in and around Marina Centre and the Padang.
https://www.todayonline.com/8days/f1-road-closures-sep-28-oct-4-take-note-best-ways-get-singapore-gp-2004216

Road closures around Marina Centre and Padang from Sept 30 to Oct 3 for F1 Singapore GP
Singapore — The police on Thursday (Sept 29) announced road closures during the Formula One Singapore Grand Prix and advised members of the public to use public transport when travelling to the circuit areas.
https://www.todayonline.com/singapore/road-closures-around-marina-centre-and-padang-sept-30-oct-3-f1-singapore-gp-2006911
https://www.channelnewsasia.com/singapore/road-lane-closures-singapore-formula-1-grand-prix-police-2973976