The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 8 Nov 2022 (Tue)



People’s Park Centre to relaunch $1.8b collective sale after failed attempt
Singapore – People’s Park Centre will take another stab at a $1.8 billion collective sale despite a failed attempt to sell at that price, which closed in August with no bids. The public tender launches on Tuesday.

Condo resale volumes slide 11.6% in October; price growth slows: SRX,
The number of condominium resale transactions slid 11.6 per cent in October after seeing a slight recovery in September. Prices, however, continued to climb for the 27th consecutive month, although at a slower rate compared to a month ago.

‘Not meaningful’ to provide costs breakdown of new HDB flats: Indranee
The government does not price new Housing and Development Board (HDB) flats to recover the cost of land and construction, but it will not be “helpful or meaningful” to provide a breakdown of their total development cost, said Second Minister for Finance and National Development Indranee Rajah in response to a parliamentary question on Monday (Nov 7).

Almost half of HDB flat owners who own private property rent out their entire flat: MND
About 3 per cent of Housing and Development Board (HDB) flat owners own at least one private residential property as at October 2022, falling about 0.3 percentage point in the last three years, said Minister for National Development Desmond Lee in Parliament on Monday (Nov 7).

9,200 households have opted for HDB lease buyback since scheme launched in 2009
Singapore – About 9,200 households have signed up for the Housing Board’s Lease Buyback Scheme since it was introduced in March 2009, said Minister for National Development Desmond Lee.

10 years minimum occupancy, clawback of resale proceeds – but PLH flats can still be good buys
One wonders if prime location public housing (PLH) flats are proving not all that popular with eligible Housing and Development Board (HDB) build-to-order (BTO) flat buyers. In the last BTO exercise, the application rate among first-time non-elderly applicants for four-room flats was 3.7 times for the PLH flats in Bukit Merah, versus 17.2 times and 8.7 times for non-PLH flats at Sun Plaza Spring in Tampines and Central Weave @ AMK in Ang Mo Kio respectively.




Extra S$1.4b for GST Assurance Package; 2024 hike to be reviewed if economy ‘sharply deterioriates’: DPM Wong
Another S$1.4 billion will be added to the Goods and Services Tax (GST) Assurance Package in Budget 2023 – bringing the total to around S$8 billion – to help households cope with rising inflation, Deputy Prime Minister Lawrence Wong announced in Parliament on Monday (Nov 7).

Significant opportunities in China for Singapore companies despite gloomy outlook: Gan
Despite “greater uncertainty” and a gloomy outlook in today’s world, there remains “significant opportunities” in China that Singapore companies can tap, especially within the digital and green economy spaces, said Minister for Trade and Industry Gan Kim Yong on Monday (Nov 7).

Debate on GST hike: A difficult but necessary decision
Singapore – It has been more than three years since I started writing about the goods and services tax (GST) hike, and every Parliament debate on it feels like Groundhog Day. On one side of the House, MPs argue that recurring revenue is required to fund increasing healthcare and social expenditure needs.

New pilot programme to familiarise S Pass holders with life in Singapore
Singapore will pilot a Settling-In Programme for new S Pass holders next year, to familiarise these skilled foreign workers with working here and encourage positive interaction with locals in and beyond the workplace, said Manpower Minister Tan See Leng in Parliament on Monday (Nov 7).

Singapore ranks 5th in new index tracking sustainable global trade practices
Singapore has been ranked fifth among 30 economies for the sustainability of its global trade practices, according to a study by the Swiss business school, Institute for Management Development (IMD), and the Asia-based philanthropy, Hinrich Foundation.




Proposed law to protect state land will raise penalties, give more powers to enforcement officers
Singapore : A new State Lands Protection Bill tabled in Parliament on Monday (Nov 7) proposes to significantly raise the maximum fine faced by offenders who encroach on or damage state land.

3,300 Covid-19 cases contracted in healthcare facilities between April and September, less than 1% of national total: MOH
Singapore — Some 3,300 reported Covid-19 cases were contracted in healthcare facilities, of which around 300 were from clusters in hospitals and around 3,000 from nursing homes, between April and September this year, Senior Minister of State for Health Janil Puthucheary said on Monday (Nov 7).




WTO urges countries to lift green trade barriers

UK house prices fall most in almost two years: Halifax

Half of Swedish households see home prices sliding further

New Zealand to probe country’s resilience to supply chain disruptions

Australia aims to cut tax breaks for pension funds of the super rich

Australia consumer sentiment drops to lowest since April 2020 on rates

Australia business activity stays strong in October, mood darkens

China deflation fears rise as demand weakens on Covid outbreaks

China’s trade unexpectedly shrinks as Covid curbs, global slowdown jolt demand

China’s new No 2 faces challenge to make economy hum again

China’s super-rich see fortunes plunge as economy slows

Hong Kong relaxes Covid rules for inbound tour groups

Japan household spending extends growth in September on economic reopening

Vietnamese developer restructuring amid nation’s credit crunch

Scroll to Top