Singapore Real Estate
Hospitality sector on track to meet sustainability targets under road map: Low Yen Ling
At least 35 hotels in Singapore have obtained or are in the process of acquiring internationally recognised hotel sustainability certifications. This figure collectively accounts for about a quarter of the Republic’s hotel room inventory.
https://www.businesstimes.com.sg/property/hospitality-sector-track-meet-sustainability-targets-under-road-map-low-yen-ling
Homes in more central areas among proposals in URA Master Plan review
Among other things, Singaporeans can look forward to new homes being built in more central locations, said the Urban Redevelopment Authority (URA) as it launched the Draft Master Plan 2025 (DMP25) public engagement exercise on Thursday (Oct 5).
https://www.businesstimes.com.sg/property/homes-more-central-areas-among-proposals-ura-master-plan-review
https://www.straitstimes.com/singapore/housing/homes-in-more-central-areas-coastal-protection-among-ura-proposals-for-2025-draft-masterplan
Singapore retail sales growth rises to higher-than-expected 4% in August
Singapore’s retail sales rose 4 per cent on year in August, climbing from the revised 1.3 per cent growth recorded in July, Department of Statistics (Singstat) data showed on Thursday (Oct 5).
https://www.businesstimes.com.sg/singapore/singapore-retail-sales-growth-rises-higher-expected-4-august
https://www.straitstimes.com/business/s-pore-retail-sales-gain-steam-in-august-rising-better-than-expected-4
https://www.channelnewsasia.com/singapore/retail-sales-august-2023-food-beverage-catering-alcohol-growth-3822966
BTO flats near Woodlands MRT station, final Dover Forest project to go on sale in December
Singapore – Two Build-To-Order (BTO) developments near Woodlands MRT station and the final project in the eastern half of Dover Forest are among eight developments that will go on sale in December.
https://www.straitstimes.com/singapore/housing/bto-flats-near-woodlands-mrt-station-last-dover-forest-project-to-be-offered-in-dec
Singapore Economy
Keep good bilateral relations despite pain points, cooperate to realise Asia’s potential: PM Lee
Even when there are bilateral pain points such as territorial disputes, Asian countries should “insulate their overall relations” from these specific issues and continue to cooperate, said Singapore’s Prime Minister Lee Hsien Loong on Thursday (Oct 5).
https://www.businesstimes.com.sg/international/asean/keep-good-bilateral-relations-despite-pain-points-cooperate-realise-asias
https://www.straitstimes.com/singapore/to-realise-its-promise-asia-must-create-conditions-for-peace-security-and-continue
-prosperity-pm-le
Singapore’s economy expected to grow at moderate pace despite inflation elevated in near term: AMRO
Singapore’s economy is expected to grow at a moderate pace in 2023, with inflation moderating but still likely to be elevated in the near term, say economists at the Asean +3 Macroeconomic Research Office (AMRO).
https://www.theedgesingapore.com/news/singapore-economy/singapores-economy-expected-grow-moderate-pace-despite-inflation-elevated
MAS likely to keep policy parameters unchanged in upcoming October meeting: analysts
The Monetary Authority of Singapore (MAS) is likely to keep its current policy unchanged at its monetary policy meeting on Oct 13, say analysts. The MAS had tightened its monetary policy five consecutive times since October 2021 before leaving its parameters unchanged in April.
https://www.theedgesingapore.com/capital/singapore-economy/mas-likely-keep-policy-parameters-unchanged-upcoming-october-meeting
MAS among central banks to explore protocols for policy and regulatory compliance in cross-border transactions
The Bank for International Settlements (BIS) and its central bank partners have launched Project Mandala on Oct 5. The project is a joint collaboration between BIS Innovation Hub Singapore Centre, the Monetary Authority of Singapore (MAS), the Reserve Bank of Australia (RBA), Bank of Korea (BOK) and Bank Negara Malaysia (BNM) along with financial institutions.
https://www.theedgesingapore.com/news/banking-finance/mas-among-central-banks-explore-protocols-policy-and-regulatory-compliance
Global Economy & Real Estate
Fed’s bid to avoid US recession tested by bond yields nearing 20-year highs
https://www.straitstimes.com/business/fed-s-bid-to-avoid-us-recession-tested-by-bond-yields-nearing-20-year-highs
WTO cuts global goods trade forecast citing broad-based slowdown
https://www.theedgesingapore.com/news/global-economy/wto-cuts-global-goods-trade-forecast-citing-broad-based-slowdown
US urged to see opportunity in China’s economic woes, and align policies accordingly
https://www.scmp.com/news/china/article/3236977/us-urged-see-opportunity-chinas-economic-woes-and-align-policies-accordingly
These are the cities where hotel rates are rising fastest
https://www.businesstimes.com.sg/lifestyle/these-are-cities-where-hotel-rates-are-rising-fastest
Hong Kong to pause selling commercial land as market falters
https://www.businesstimes.com.sg/property/hong-kong-pause-selling-commercial-land-market-falters
Hong Kong public housing tenants to be asked to share personal data for checks on property ownership as efforts to weed out abuses ramped up
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3236970/hong-kong-public-housing-tenants-be-asked-share-personal-data-checks-property-ownership-efforts-weed
Hong Kong’s MPF poised for unprecedented third year of losses after last quarter wipes all 2023 gains
https://www.scmp.com/business/banking-finance/article/3236815/hong-kongs-mpf-poised-unprecedented-third-year-losses-after-last-quarter-wipes-all-2023-gains
Visitors flock to Hong Kong over mainland China’s ‘golden week’ holiday, but retailers say extra people did not mean higher sales
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3236962/visitors-flock-hong-kong-over-mainland-chinas-golden-week-holiday-retailers-say-extra-people-did-not
Japanese real wages decline in August for a 17th month
https://www.channelnewsasia.com/business/japanese-real-wages-decline-august-17th-month-3825451
‘Haze cannot be the norm’: Malaysia urges Indonesia to take action
https://www.todayonline.com/world/haze-cannot-be-norm-malaysia-urges-indonesia-take-action-2275166
https://www.channelnewsasia.com/asia/haze-malaysia-indonesia-fires-asean-joint-action-prevent-3823871
https://www.scmp.com/news/asia/southeast-asia/article/3236951/malaysia-urges-indonesia-take-action-over-air-quality-haze-cannot-be-norm
Singapore investors eyeing Asia-Pacific real estate for greater yields
https://www.businesstimes.com.sg/property/singapore-investors-eyeing-asia-pacific-real-estate-greater-yields
S Korean central bank governor sees risk of rates staying higher for longer
https://www.channelnewsasia.com/business/s-korean-central-bank-governor-sees-risk-rates-staying-higher-longer-3823071
House-building slump brings biggest UK construction fall since 2020: PMI
https://www.businesstimes.com.sg/property/house-building-slump-brings-biggest-uk-construction-fall-2020-pmi
UK property rental market sees biggest supply jump in 10 months
https://www.businesstimes.com.sg/property/uk-property-rental-market-sees-biggest-supply-jump-10-months
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