Singapore Real Estate
URA eyes rezoning of one-north land parcel as residential, and intensification of land use in several sites
A land parcel bounded by Media Circle and one-north Avenue, currently zoned for business-park use, is being proposed for a high-density residential development. Elsewhere, land use in five other sites already earmarked for residential use will be intensified for this purpose.
https://www.businesstimes.com.sg/property/ura-eyes-rezoning-one-north-land-parcel-residential-and-intensification-land-use-several
https://www.straitstimes.com/singapore/housing/high-rise-housing-project-in-one-north-among-sites-being-readied-for-development
Former St Andrew’s Mission Hospital to be transformed into creative lifestyle space
Singapore – The century-old former St Andrew’s Mission Hospital in Tanjong Pagar is slated to be converted into a creative lifestyle space. The Singapore Land Authority (SLA) has called a tender for the development of a community space with round-the-clock offerings at the site off Maxwell Road, at the corner of Kadayanallur Street and Erskine Road.
https://www.straitstimes.com/singapore/former-st-andrew-s-mission-hospital-to-be-transformed-into-creative-lifestyle-space
Lured by positive yield spread, Singapore investors pile into Japanese real estate
Singapore-based investors are making a beeline for Japanese real estate, as low borrowing costs push up the market’s yield spread and increase its relative attractiveness. Almost US$3 billion worth of real estate assets were purchased in the first eight months of this year, a Knight Frank report indicated, up from US$977 million in the same period last year.
https://www.businesstimes.com.sg/property/lured-positive-yield-spread-singapore-investors-pile-japanese-real-estate
Fifth and final BTO project delayed by defunct contractor Greatearth is complete: HDB
The last of the five Build-To-Order (BTO) projects delayed when construction company Greatearth went bust two years ago has been completed, with the majority of residents having collected their keys, said the Housing Board (HDB) on Sunday (Oct 8).
https://www.businesstimes.com.sg/property/fifth-and-final-bto-project-delayed-defunct-contractor-greatearth-complete-hdb
https://www.straitstimes.com/singapore/housing/fifth-and-final-bto-project-delayed-by-defunct-contractor-greatearth-is-complete-hdb
https://www.todayonline.com/singapore/hdb-completes-all-5-projects-delayed-contractor-greatearth-winding-2276596
https://www.channelnewsasia.com/singapore/hdb-greatearth-complete-5-projects-delayed-liquidation-financial-difficulties-3829936
Singapore Economy
Singapore’s digital economy contributed 17.3% to GDP in 2022, up from 13% in 2017: IMDA
Singapore’s digital economy last year contributed 17.3 per cent to its gross domestic product (GDP), up from 13 per cent in 2017, a report by the Infocomm Media Development Authority (IMDA) showed on Friday (Oct 6).
https://www.businesstimes.com.sg/singapore/singapores-digital-economy-contributed-173-gdp-2022-13-2017-imda
https://www.theedgesingapore.com/news/singapore-economy/singapores-digital-economy-contributed-106-bil-or-173-gdp-2022-imda
Keeping Singapore society fair, maintaining country’s edge key challenges for 4G leaders: PAP poll
Singapore – Singaporeans think that continuing to ensure a fair – but not welfare – society will be a key challenge for the fourth-generation (4G) leadership of the PAP, according to a recent online survey.
https://www.straitstimes.com/singapore/politics/keeping-s-pore-society-fair-maintaining-country-s-edge-key-challenges-for-4g-leaders-pap-poll
Views, Reviews Forum and Others
When money laundering leaves a stain on the economy
Singapore’s operation to round up accused members of the “Fujian Family” organised crime ring has seen more than S$2.8 billion of assets seized so far – an eye-popping sum. But that is small change compared with the dirty money that’s sloshing through the global economy.
https://www.businesstimes.com.sg/singapore/economy-policy/when-money-laundering-leaves-stain-economy
S’poreans should avoid travelling to Gaza Strip, West Bank, Israel: MFA
Singaporeans should avoid all travel to the Gaza Strip, the West Bank as well as Israel’s borders with the Gaza Strip, Lebanon and Syria in view of the escalating conflicts there, the Ministry of Foreign Affairs (MFA) said in a statement on Sunday.
https://www.straitstimes.com/singapore/s-poreans-should-avoid-travelling-to-gaza-strip-west-bank-lebanon-syria-israel-mfa
https://www.todayonline.com/singapore/singaporeans-should-avoid-travelling-gaza-strip-west-bank-and-israel-amid-conflict-mfa-2276621
https://www.channelnewsasia.com/singapore/israel-hamas-attacks-conflict-war-singaporeans-avoid-travel-gaza-west-bank-3830511
Defence against severe Covid-19 wanes in a year, those at risk must take yearly shots: Ong Ye Kung
Singapore – Protection against severe forms of Covid-19, whether through vaccination or illness as a result of the virus, wanes around the 12-month mark, and those most at risk must take their annual vaccine shots to avoid getting severely ill, said Health Minister Ong Ye Kung on Friday.
https://www.straitstimes.com/singapore/defence-against-severe-covid-19-wanes-in-a-year-those-at-risk-must-take-yearly-shots-ong-ye-kung
https://www.todayonline.com/singapore/singapore-experiencing-new-covid-19-wave-more-people-expected-fall-sick-coming-weeks-ong-ye-kung-2275746
Govt task force meets to roll out multi-agency measures to tackle haze
Singapore – Government agencies rolled out action plans and advisories to tackle the haze situation after its inter-agency haze task force met on Saturday morning. The task force, led by the National Environment Agency (NEA), met as the 24-hour Pollutant Standards Index (PSI) entered the unhealthy range – 101 to 200 – in the east and central regions.
https://www.straitstimes.com/singapore/govt-task-force-convenes-agencies-roll-out-measures-to-tackle-haze-situation
Haze clears in Singapore, PSI expected to remain in moderate range on Monday
Singapore – Clearer skies returned over Singapore on Sunday afternoon as the air quality improved, the National Environment Agency (NEA) said in its daily haze advisory.
https://www.straitstimes.com/singapore/psi-dips-back-into-moderate-range-in-singapore-as-winds-shift
https://www.todayonline.com/singapore/lower-likelihood-haze-spore-oct-9-forecast-rain-favourable-winds-2276606
https://www.channelnewsasia.com/singapore/haze-singapore-psi-air-quality-pm-2-5-oct-8-3830051
Global Economy & Real Estate
US core inflation seen corroborating higher-for-longer Fed
https://www.businesstimes.com.sg/international/us-core-inflation-seen-corroborating-higher-longer-fed
They made China’s economic dream a reality. Now, they struggle to survive
https://www.scmp.com/economy/china-economy/article/3237065/they-made-chinas-economic-dream-reality-now-they-struggle-survive
Chinese economy ‘still showing Covid scars’ despite ‘golden week’ travel surge
https://www.scmp.com/news/article/3237216/chinese-economy-still-showing-covid-scars-despite-golden-week-travel-surge
China’s Golden Week holiday spending per capita surpasses 2019 levels
https://www.businesstimes.com.sg/international/chinas-golden-week-holiday-spending-capita-surpasses-2019-levels
https://www.channelnewsasia.com/asia/chinas-cross-border-trips-during-golden-week-holiday-recover-85-pre-pandemic-level-3828726
Steady improvement in Hong Kong’s economy since start of year, finance chief says, with spending surging to 90% of pre-Covid levels
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3237211/steady-improvement-hong-kongs-economy-start-year-finance-chief-says-spending-surging-90-pre-covid
Hong Kong moves up list of Asia-Pacific’s busiest airports, but still behind Singapore Changi, Seoul Incheon
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3237166/hong-kong-moves-list-asia-pacifics-busiest-airports-still-behind-singapore-changi-seoul-incheon-and
Hong Kong home rented out for over US$140,000 a month despite market downturn
https://www.businesstimes.com.sg/property/hong-kong-home-rented-out-over-us140000-month-despite-market-downturn
Authorities find many Hong Kong luxury homes inspected in latest round of checks after landslides not complying with law
https://www.scmp.com/news/hong-kong/society/article/3237129/authorities-find-many-hong-kong-luxury-homes-inspected-latest-round-checks-after-landslides-not
Young Hong Kong graduates face uphill struggle to afford home as study finds buying power slashed by almost half over past 20 years
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3237174/young-hong-kong-graduates-face-uphill-struggle-afford-home-study-finds-buying-power-slashed-almost
Hong Kong wealth managers’ gloom spreads with drop in assets
https://www.businesstimes.com.sg/international/hong-kong-wealth-managers-gloom-spreads-drop-assets
https://www.straitstimes.com/business/hong-kong-wealth-managers-gloom-spreads-with-drop-in-assets-as-rival-singapore-gains
‘Legendary tales’: Li Ka-shing hails Hong Kong and Singapore’s common destiny in Lee Kuan Yew tribute
https://www.scmp.com/week-asia/people/article/3237022/legendary-tales-li-ka-shing-hails-hong-kong-and-singapores-common-destiny-lee-kuan-yew-tribute
Thousands of tourists visit Macau, Hong Kong during Golden Week holidays
https://www.businesstimes.com.sg/international/thousands-tourists-visit-macau-hong-kong-during-golden-week-holidays
Luxembourg, EU’s richest country, grapples with housing crisis
https://www.businesstimes.com.sg/property/luxembourg-eus-richest-country-grapples-housing-crisis
Hyde Park Mansion up for sale in London for £42.5 million
https://www.businesstimes.com.sg/property/hyde-park-mansion-sale-london-ps425-million
Norway home prices extend fall, backing central bank’s view
https://www.businesstimes.com.sg/property/norway-home-prices-extend-fall-backing-central-banks-view
Paris commercial property deals hit lowest level in 13 years
https://www.businesstimes.com.sg/property/paris-commercial-property-deals-hit-lowest-level-13-years
No need for South Korean central bank to tighten policy further, says deputy governor
https://www.businesstimes.com.sg/international/no-need-south-korean-central-bank-tighten-policy-further-says-deputy-governor
Swedish home prices stand still as rate peak nears
https://www.businesstimes.com.sg/property/swedish-home-prices-stand-still-rate-peak-nears
Sweden’s real estate crisis threatens its biggest pension fund
https://www.businesstimes.com.sg/companies-markets/swedens-real-estate-crisis-threatens-its-biggest-pension-fund
UK house prices post sixth straight monthly fall
https://www.businesstimes.com.sg/property/uk-house-prices-post-sixth-straight-monthly-fall
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