Singapore Real Estate / Built Environment
Developers to get extended ABSD remission deadline for big en bloc rebuilds and complex ‘urban transformation’ projects
Housing developers will now have more leeway in their construction and sales timelines for “complex large-scale urban transformation developments”, with a critical sales deadline extended by six months to a year.
Silver Housing Bonus scheme extended to more private property owners who downsize
More private property owners will qualify for the government’s Silver Housing Bonus (SHB) scheme, which gives a cash bonus to seniors who sell their homes to move into a smaller public housing flat and top up their retirement accounts.
https://www.youtube.com/watch?v=GElMAHcE7PU
Family offices to increase real estate bets ahead of rebound
Nearly half of family offices said they plan to increase allocations to real estate in coming months, with an emphasis on residential and industrial sectors, according to research from Knight Frank.
https://www.businesstimes.com.sg/property/family-offices-increase-real-estate-bets-ahead-rebound1
Smaller family offices may face ‘onerous’ challenges due to proposed tweaks to GIP: observers
Wealthy individuals who want to set up a family office (FO) in Singapore through the Global Investor Programme (GIP) may face more challenges, given that the scheme may be tweaked in a bid to revitalise the local stock market.
Elias Green condo up for en bloc sale at S$928 million guide price
ELIAS Green condominium in Pasir Ris will be launched for en bloc sale on Thursday (Mar 6) with a guide price of S$928 million, said sole marketing agent ERA Realty Network.
https://www.businesstimes.com.sg/property/elias-green-condo-en-bloc-sale-s928-million-guide-price
Oei Tiong Ham Park GCB property on the market at S$42.8 million
A Freehold Good Class Bungalow (GCB) property in the exclusive Oei Tiong Ham Park enclave is up for sale, with a guide price of S$42.8 million. The S$42.8 million price tag translates to a land rate of about S$2,800 per square foot (psf) on the land area of about 14,982 square feet (sq ft), exclusive marketing agent Savills Singapore said on Thursday (Mar 6).
https://www.businesstimes.com.sg/property/oei-tiong-ham-park-gcb-property-market-s42-8-million
https://www.edgeprop.sg/property-news/oei-tiong-ham-park-gcb-sale-428-mil
First Mount Pleasant BTO flats to be launched in October
The first batch of Housing and Development Board (HDB) Build-To-Order (BTO) flats in the new Mount Pleasant housing estate will be launched in October this year, Minister for National Development Desmond Lee said at his ministry’s Committee of Supply debate on Wednesday (Mar 5).
https://www.businesstimes.com.sg/property/first-mount-pleasant-bto-flats-be-launched-october
https://www.zaobao.com.sg/news/singapore/story20250305-5969983?ref=today-news-section-card-2
https://www.youtube.com/watch?v=PVTe0vzT8oo
Singapore Economy / News
Singapore government will raise HDB income ceilings when ‘time is right’, says Desmond Lee
Singapore: The Singapore government will continue to keep an eye on income growth and conditions in the local property market, and will raise income ceilings “when the time is right”, said Minister for National Development Desmond Lee on Wednesday (Mar 5).
Singapore retail sales up 4.5% in January, swinging from year-end decline
Singapore’s retail sales rose 4.5 per cent year on year in January, swinging from the year-end decline in the lead up to Chinese New Year, data from the Singapore Department of Statistics (SingStat) showed on Wednesday (Mar 5).
Singapore to invest S$1 billion in Changi air hub, beyond S$5 billion fund top-up in Budget 2025
Singapore will invest S$1 billion over the next five years to support the development of Changi air hub, said Transport Minister Chee Hong Tat at his ministry’s Committee of Supply debate on Wednesday (Mar 5).
https://www.zaobao.com.sg/news/singapore/story20250305-5971265
Plans for 8 more parks, another 13km of park connectors in Singapore
Singapore – To bring Singaporeans closer to nature, another eight parks and 13km of park connectors will be developed here.
During the debate on its budget on March 5, the Ministry of National Development (MND) also provided updates on the Budget Meal initiative and an ongoing review of the Animals and Birds Act.
West Coast MRT extension to link Jurong Region Line with Cross Island Line, Circle Line; 2 new lines being studied
A new extension to Singapore’s upcoming Jurong Region Line (JRL) will connect it to the Cross Island Line (CRL) and Circle Line (CCL). The West Coast Extension (WCE) of the MRT was announced by Transport Minister Chee Hong Tat at his ministry’s Committee of Supply debate on Wednesday (Mar 5).
https://www.zaobao.com.sg/news/singapore/story20250305-5971613?ref=today-news-section-card-1
https://www.youtube.com/watch?v=Hs0YSddipDM
Yishun MRT Station to be renovated first
Built in 1988, Yishun MRT Station will undergo a major renovation to better handle crowds and improve passenger experience. The project may include increasing platform space, building additional entrances and exits, escalators and elevators, and renovating surrounding boarding and alighting areas.
https://www.zaobao.com.sg/news/singapore/story20250306-5972567
https://www.youtube.com/watch?v=01ayRgdnjf8
Global Economy & Real Estate
Gold slips as Treasury yields climb; Trump tariff moves on radar
Oil settles more than 2% lower after US crude stocks build, Opec+ hike, US tariffs
US economic activity up slightly as tariff worries rise: Federal Reserve survey
US recession odds are becoming unsettlingly high
https://www.businesstimes.com.sg/opinion-features/us-recession-odds-are-becoming-unsettlingly-high
US takes down list of federal properties for possible sale
https://www.businesstimes.com.sg/international/us-takes-down-list-federal-properties-possible-sale
US mortgage rates near three-month low in boost to demand
https://www.businesstimes.com.sg/property/us-mortgage-rates-near-three-month-low-boost-demand
Australia’s economic inequality rises to highest in 20 years
https://www.businesstimes.com.sg/international/australias-economic-inequality-rises-highest-20-years
China’s 5% GDP target for 2025 a sign of confidence, but warrants stronger policy support: analysts
China to give cities more room to purchase unsold homes
https://www.businesstimes.com.sg/property/china-give-cities-more-room-purchase-unsold-homes
Chinese developer Longfor’s bonds sink deeper into junk territory as home sales sputter
Europe’s property market draws Asian investors fleeing China
Hong Kong still among the world’s top wealth hubs, according to Knight Frank report
Bank of Japan’s deputy chief hints at more rate hikes, without rushing
New Zealand housing market shows signs of life as prices gain
https://www.businesstimes.com.sg/property/new-zealand-housing-market-shows-signs-life-prices-gain
Philippine inflation slows more than expected in February as rice prices drop
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