DAILY NEWS

Daily News – 8, 9 & 10 Oct 2022 (Sat, Sun & Mon)

SINGAPORE REAL ESTATE

HDB monitoring if cooling moves impact prices of 4-room and smaller resale flats: Desmond Lee
Singapore – Prices of four-room and smaller Housing Board resale flats are being monitored for any increase arising from the recent round of cooling measures, said National Development Minister Desmond Lee on Saturday.
https://www.straitstimes.com/singapore/housing/hdb-monitoring-if-cooling-measures-impact-prices-of-4-room-and-smaller-resale-flats-desmond-lee

Steady demand to support industrial prices and rentals in 2022, despite Q3 bumps: Knight Frank
Industrial prices and rentals are expected to stabilise this year, supported by a steady demand for space. This is despite the sector’s moderate performance in recent quarters and a rocky global economy, said real estate consultancy Knight Frank in a report on Friday (Oct 7).
https://www.businesstimes.com.sg/real-estate/steady-demand-to-support-industrial-prices-and-rentals-in-2022-despite-q3-bumps-knight

Is property still a good investment for Singaporeans?
Singaporeans have a penchant for residential properties, seeing them as a good investment for capital gains and for passive income during retirement. The turbulence in financial markets in recent years has added to the allure of properties, which are perceived as relatively more stable and able to offer good long-term value.
https://www.businesstimes.com.sg/wealth-investing/is-property-still-a-good-investment-for-singaporeans

TLDR: So you want to buy a 99-year lease terrace house? Here’s what you need to know
If you’re in the market for a slightly bigger space than an HDB flat or a condominium can provide, landed property might be an option. But freehold prices can get quite steep, so an alternative is the 99-year leasehold terrace house. While lease decay is generally said to contribute to falling values, median prices of 99-year terrace houses actually inflated 13.2 per cent between 2020 and 2021, and 15.3 per cent this year compared with the whole of last year.
https://www.businesstimes.com.sg/brunch/tldr-so-you-want-to-buy-a-99-year-lease-terrace-house-heres-what-you-need-to-know

SINGAPORE ECONOMY

Singapore’s monetary policy decision in October will hinge on growth and employment risks
Singapore – High inflation may give Singapore’s central bank no choice but to keep pushing up the currency against the country’s trading partners, but just how aggressive it will be is the key question for markets.
https://www.straitstimes.com/business/economy/singapores-monetary-policy-decision-this-month-will-hinge-on-growth-and-employment-risks

Risk of economic slowdown could dampen Singapore job market: MOM
Singapore – Although unemployment in Singapore dropped in August compared with July, the increasing risks of an economic slowdown may dampen the labour market.
https://www.straitstimes.com/business/economy/spore-august-unemployment-rates-fall-to-lowest-in-over-6-years-mom-warns-of-risks-ahead
https://www.businesstimes.com.sg/government-economy/singapores-august-jobless-rates-fall-to-6-year-low-but-mom-warns-of-weaknesses

Retail’s updated industry transformation map focuses on Singapore brands, innovation, talent
Singapore’s updated industry transformation map (ITM) for the retail sector will help Singapore brands go abroad, encourage new experiential concepts, position the country as a lifestyle hub for global brands, and groom local talent for quality jobs.
https://www.businesstimes.com.sg/government-economy/retails-updated-industry-transformation-map-focuses-on-singapore-brands
https://www.straitstimes.com/singapore/spore-retail-brands-get-leg-up-to-expand-overseas-under-refreshed-road-map

ST Explains: What is a technical recession and how it differs from a full-blown recession
Singapore – A technical recession is commonly defined as two consecutive quarters of negative growth in a country’s gross domestic product (GDP). Some analysts believe Singapore may already be in a technical recession as their estimates suggest growth contracted in the third quarter on a seasonally adjusted basis from the second quarter, when it shrank by 0.2 per cent.
https://www.straitstimes.com/business/economy/st-explainswhat-is-a-technical-recession-and-how-it-differs-from-a-full-blown-recession

COMPANIES’ BRIEF

Retail S-Reits see double-digit pickup; downtown malls shine
Recent consumer and leisure activities have picked up domestically with F1 Singapore Grand Prix’s sold-out record crowd of over 302,000 fans, return of major concerts and meetings, incentives, conferences & exhibitions (Mice) activities, and the gradual pickup in tourist arrivals in recent months.
https://www.businesstimes.com.sg/companies-markets/retail-s-reits-see-double-digit-pickup-downtown-malls-shine

SPH Reit posts 2.2% rise in latest 12-month DPU on retail recovery
Stronger sentiment in the retail sector lifted the distribution per unit (DPU) of SPH Reit to 5.52 Singapore cents for the 12 months ended Aug 31 (12M FY2022), up 2.2 per cent from the previous year.
https://www.businesstimes.com.sg/companies-markets/sph-reit-posts-22-rise-in-latest-12-month-dpu-on-retail-recovery
https://www.straitstimes.com/business/companies-markets/sph-reit-posts-22-rise-in-12-month-dpu-on-retail-recovery

UPDATE ON COVID-19 (CORONAVIRUS DISEASE 2019) SITUATION

All COVID-19 vaccination-differentiated measures to be lifted from Oct 10: MOH
Singapore: All COVID-19 vaccination-differentiated measures will be lifted from Oct 10, with restrictions no longer in place for dining in, nightlife establishments and events with more than 500 participants.
https://www.channelnewsasia.com/singapore/covid-19-vaccination-differentiated-measures-lifted-oct-10-dining-nightlife-events-2994596
https://www.todayonline.com/minute/rules-tied-covid-19-vaccination-status-be-lifted-oct-10-spore-switches-date-vaccination-policy-2014371
https://www.straitstimes.com/singapore/health/covid-19-vaccination-differentiated-measures-to-be-lifted-from-oct-10-as-spore-enters-new-phase-of-normalcy

Singapore ready to step up Covid-19 measures if needed as VDS restrictions are lifted
As Singapore prepares to remove restrictions for those who are not fully vaccinated, it is also ready to step up such measures when necessary to lower infection rates and protect the unvaccinated, said Health Minister Ong Ye Kung on Sunday (Oct 9).
https://www.businesstimes.com.sg/government-economy/singapore-ready-to-step-up-covid-19-measures-if-needed-as-vds-restrictions-are

Moderna/Spikevax bivalent vaccine same safety profile as original dose: Ong Ye Kung
Singapore: Clinical studies have shown that the updated Moderna/Spikevax bivalent vaccine has the same safety profile as the original dose which had about six in 100,000 people reporting serious adverse events, said Health Minister Ong Ye Kung.
https://www.channelnewsasia.com/singapore/moderna-spikevax-bivalent-vaccine-safety-profile-original-ong-ye-kung-2997786

Covid-19 vaccination for children aged six months to four years from Oct 25
Young children aged six months to four years will be able to receive their primary Covid-19 vaccination with the Moderna Spikevax vaccine from Oct 25. Children aged five to 11 will also be able to receive a booster dose with the Pfizer-BioNTech/Comirnaty vaccine from Oct 25, the Ministry of Health (MOH) said on Friday (Oct 7).
https://www.businesstimes.com.sg/government-economy/covid-19-vaccination-for-children-aged-six-months-to-four-years-from-oct-25
https://www.todayonline.com/minute/covid-19-vaccination-children-under-5-boosters-those-aged-5-11-begin-oct-25-2014376

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation