SINGAPORE REAL ESTATE
CDL to start previews for Copen Grand EC in Tengah on Friday, with prices from S$1.08m
City Developments Ltd (CDL) and MCL Land will open applications for their Copen Grand executive condominium (EC) project in the upcoming Tengah area on Friday (Oct 7), with prices starting from S$1.08 million for a two-bedroom unit.
https://www.businesstimes.com.sg/real-estate/cdl-to-start-previews-for-copen-grand-ec-in-tengah-on-friday-with-prices-from-s108m
https://www.straitstimes.com/business/property/cdl-to-start-previews-for-copen-grand-ec-in-tengah-on-friday-with-prices-from-s108m
Six adjoining Geylang Road shophouses put on the market
Six adjoining shophouses located at 311 to 321 Geylang Road have been put up for sale via an expression of interest (EOI) at an undisclosed price, exclusive marketing agent Savills Singapore said on Thursday (Oct 6).
https://www.businesstimes.com.sg/real-estate/six-adjoining-geylang-road-shophouses-put-on-the-market
Buyers from China snap up biggest share of S’pore’s luxury condos among foreigners
Singapore – Chinese buyers have snapped up the biggest share of Singapore’s condo market in 2022 compared with other foreigners, as total foreign buying of private non-landed homes almost bounced back to pre-pandemic levels.
https://www.straitstimes.com/business/property/buyers-from-china-snap-up-biggest-number-of-singapores-luxury-condos
https://www.todayonline.com/world/rich-mainland-chinese-snap-luxury-homes-singapore-despite-tax-hikes-2012826
Cooling measures timely and necessary
Despite property cooling measures introduced in December 2021, and mortgage rates having risen steadily since, housing prices here have surged ahead of economic fundamentals.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-cooling-measures-timely-and-necessary
HDB to exercise flexibility to waive wait-out period for some downgraders to purchase resale flat
Private property downgraders who can show they obtained an option to purchase a HDB resale flat before the cooling measures kicked in may have their 15-month wait-out period waived, said the Housing Board on Thursday (Oct 6).
https://www.businesstimes.com.sg/real-estate/hdb-to-exercise-flexibility-to-waive-wait-out-period-for-some-downgraders-to-purchase
https://www.straitstimes.com/singapore/housing/hdb-to-exercise-flexibility-to-waive-wait-out-period-for-some-downgraders-to-purchase-resale-flat
https://www.todayonline.com/singapore/450-private-homeowners-appeal-wait-out-resale-flats-hdb-says-those-purchase-options-sept-30-exempted-2012736
Record number of million-dollar flats sold in September; HDB resale prices up 1.2%: SRX, 99.co
The number of Housing and Development Board (HDB) flats sold for S$1 million or more hit a record high in September 2022, following the news of property cooling measures. According to flash data from real estate portal SRX and 99.co released on Thursday (Oct 6), a total of 45 flats worth a million dollars each were sold last month.
https://www.businesstimes.com.sg/real-estate/record-number-of-million-dollar-flats-sold-in-september-hdb-resale-prices-up-12-srx-99co
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-climb-12-in-sept-record-45-million-dollar-flats-sold-in-a-month
https://www.todayonline.com/singapore/hdb-resale-prices-rise-27th-month-record-million-dollar-2012941
SINGAPORE ECONOMY
Singapore-China ties to open up new opportunities for businesses in both countries: DPM Wong
Collaborating in emerging areas of the new economy will open up new opportunities in both Singapore and China, said Deputy Prime Minister Lawrence Wong at the Business China’s Future China Global Forum on Friday (Oct 7).
https://www.businesstimes.com.sg/government-economy/singapore-china-ties-to-open-up-new-opportunities-for-businesses-in-both
Making Singapore a regional centre for philanthropy
Singapore has strong policies in place to support people who wish to do good. Over the years, the Government has worked with philanthropic organisations, family offices and others in this area to develop a strong ecosystem where charitable initiatives and giving are encouraged and supported.
https://www.straitstimes.com/opinion/making-singapore-a-regional-centre-for-philanthropy
Singapore’s August unemployment rates fall to lowest in over 6 years but MOM warns of weakness ahead
Singapore’s unemployment rates fell across the board in August, but the Ministry of Manpower (MOM) warned of risks of an economic slowdown that could dampen the labour market.
https://www.businesstimes.com.sg/government-economy/singapores-august-unemployment-rates-fall-to-lowest-in-over-6-years-but-mom-warns
GLOBAL ECONOMY & GLOBAL REAL ESTATE
Global economy could lose US$4 trillion in output, IMF chief warns
https://www.businesstimes.com.sg/government-economy/global-economy-could-lose-us4-trillion-in-output-imf-chief-warns
Bringing down inflation will take time, more rate hikes: Federal Reserve officials
https://www.businesstimes.com.sg/government-economy/bringing-down-inflation-will-take-time-more-rate-hikes-federal-reserve-officials
https://www.channelnewsasia.com/business/bringing-down-inflation-will-take-time-more-rate-hikes-fed-officials-2993376
IMF should issue new reserves to help countries tackle overlapping crises – groups
https://www.channelnewsasia.com/business/imf-should-issue-new-reserves-help-countries-tackle-overlapping-crises-groups-2993421
US mortgage rates slip to 6.66%, the first drop in 7 weeks
https://www.businesstimes.com.sg/real-estate/us-mortgage-rates-slip-to-666-the-first-drop-in-7-weeks
Will the Fed win the war on inflation? It’s complicated
https://www.businesstimes.com.sg/opinion/will-the-fed-win-the-war-on-inflation-its-complicated
UK business pessimism worsened by fears of sticky inflation
https://www.businesstimes.com.sg/government-economy/uk-business-pessimism-worsened-by-fears-of-sticky-inflation
UK construction outlook dims with increase in interest rates
https://www.businesstimes.com.sg/real-estate/uk-construction-outlook-dims-with-increase-in-interest-rates
London spare room rentals squeezed by surge in tenant demand and low supply
https://www.straitstimes.com/business/property/london-spare-room-rentals-squeezed-by-surge-in-tenant-demand-and-low-supply
Australia’s central bank warns of rising financial stability risks, households under pressure
https://www.businesstimes.com.sg/government-economy/australias-central-bank-warns-of-rising-financial-stability-risks-households
Australian PM under pressure to scrap tax cuts for high earners after UK chaos
https://www.straitstimes.com/asia/australianz/australian-pm-under-pressure-to-scrap-tax-cuts-for-high-earners-after-uk-chaos
Australia trade surplus unexpectedly narrows on import strength
https://www.businesstimes.com.sg/government-economy/australia-trade-surplus-unexpectedly-narrows-on-import-strength
China after the property boom: Can it rebuild the growth model?
https://www.straitstimes.com/opinion/china-after-the-property-boom-can-it-rebuild-the-growth-model
Hong Kong recovery falters as PMI falls to worst in six months
https://www.businesstimes.com.sg/government-economy/hong-kong-recovery-falters-as-pmi-falls-to-worst-in-six-months
Taiwan September inflation rate edges up slightly, but still below 3%
https://www.businesstimes.com.sg/government-economy/taiwan-september-inflation-rate-edges-up-slightly-but-still-below-3
Japan Aug household spending rises 5.1% year/year
https://www.channelnewsasia.com/business/japan-aug-household-spending-rises-51-year-year-2993541
https://www.businesstimes.com.sg/government-economy/japans-aug-household-spending-rises-annually-on-reopening-falls-month-on-month
S.Korea Aug current account logs biggest deficit in over two years
https://www.channelnewsasia.com/business/skorea-aug-current-account-logs-biggest-deficit-over-two-years-2993506
Legoland Korea’s default flags risks for nation’s developers
https://www.businesstimes.com.sg/real-estate/legoland-koreas-default-flags-risks-for-nations-developers
https://www.straitstimes.com/business/companies-markets/legoland-koreas-default-flags-risks-for-nations-developers