SINGAPORE REAL ESTATE
Prime residential prices to moderate in 2023 despite shrinking stock: Knight Frank
Prices of prime residential properties are expected to climb at a more “moderate” pace in 2023, even as the inventory of units available continues to shrink, according to real estate consultancy Knight Frank.
https://www.businesstimes.com.sg/property/prime-residential-prices-moderate-2023-despite-shrinking-stock-knight-frank
Older resale flats favoured, thanks to their larger size and greater affordability
The proportion of older flats sold in 2022 has more than doubled over the last decade, reflecting the demand for larger and more affordable resale flats, especially in the last few years.
https://www.businesstimes.com.sg/property/older-resale-flats-favoured-thanks-their-larger-size-and-greater-affordability
SINGAPORE ECONOMY
Government likely to achieve balanced budget in current term despite Covid deficit
The Singapore government is expected to balance its budget for the current term, set to end by 2025, despite a record S$51.6 billion overall budget deficit in financial year 2020 when the Covid-19 pandemic hit, analysts told The Business Times (BT).
https://www.businesstimes.com.sg/singapore/government-likely-achieve-balanced-budget-current-term-despite-covid-deficit
Look Ahead 2023: With a weaker job market looming, youth cannot afford to be choosy and should upskill, say experts
Singapore — Although university student Aida will graduate here only in December 2023, the political science major with a minor in the Korean language is already preparing to apply for a job in the middle of the year.
https://www.todayonline.com/singapore/look-ahead-2023-weaker-job-market-looming-youth-cannot-afford-be-choosy-and-should-upskill-say-experts-2084831
S’pore’s Q1 hiring outlook dims, but firms prepared to pay more to attract workers: Survey
Singapore – Concerns about an economic slowdown have slightly tempered hiring optimism among employers in Singapore, though they are still prepared to pay more to attract and retain enough staff to gear up growth efforts.
https://www.straitstimes.com/singapore/jobs/s-pore-s-q1-hiring-outlook-dims-but-firms-are-prepared-to-pay-more-to-attract-workers-survey
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US Fed officials do not expect interest rate cuts this year
US manufacturing sector contracts, prices decline in December: ISM
US job openings remain elevated; manufacturing slump continues
Foreign investors dump UK gilts at record rate despite Sunak’s austerity drive
UK businesses brace for falling profits during 2023 recession
UK public’s expectations of future inflation down in December
UK housing market stalls, credit card borrowing rises
https://www.businesstimes.com.sg/international/uk-housing-market-stalls-credit-card-borrowing-rises
Manhattan home prices slip 5.5% in first decline since mid-2020
https://www.businesstimes.com.sg/property/manhattan-home-prices-slip-55-first-decline-mid-2020
New Zealand housing slump to go on after worst drop since 2008
https://www.businesstimes.com.sg/property/new-zealand-housing-slump-go-after-worst-drop-2008
Swiss inflation slows to 2.8% before likely jump in January
https://www.businesstimes.com.sg/international/swiss-inflation-slows-28-likely-jump-january
Eurozone recession may not be as deep as expected: PMI
https://www.businesstimes.com.sg/international/eurozone-recession-may-not-be-deep-expected-pmi
China’s December services sector extends declines as Covid cases surge: Caixin PMI
AP Strategic unit proposes to sell China hotel assets for 80m yuan
China resumes residential real estate funds in further support
China to increase support for ‘too-big-to-fail’ property developers
https://www.straitstimes.com/business/china-weighs-more-steps-to-shore-up-too-big-to-fail-developers
China developer’s drastic action highlights battle for survival
Hong Kong’s retail sales post surprise drop in November
https://www.businesstimes.com.sg/international/hong-kongs-retail-sales-post-surprise-drop-november
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