Singapore Real Estate
Over 5,000 new homes could rise from 3 new Tanjong Rhu plots on city fringe
New high-rise housing developments can now be built on three plots of land in Tanjong Rhu that analysts estimate could yield more than 5,000 new homes in this location on the city fringe.
https://www.businesstimes.com.sg/property/over-5000-new-homes-could-rise-3-new-tanjong-rhu-plots-city-fringe
https://www.straitstimes.com/singapore/housing/over-5000-new-homes-could-be-built-on-3-new-tanjong-rhu-plots-on-th
-city-fring
Fewer HDB flat upgraders chasing the condo ownership dream
Singapore – There are fewer Housing Board flat upgraders chasing the condominium dream after several rounds of property cooling measures. Adding to that are higher mortgage rates and private home prices, as well as growing economic headwinds.
https://www.straitstimes.com/business/fewer-hdb-flat-upgraders-chasing-the-condo-ownership-dream
Record number of million-dollar HDB flats sold in August; resale volume jumps 20.3%
The number of million-dollar flat transactions hit a new high in August 2023, in tandem with a 20.3 per cent jump in resale Housing and Development Board (HDB) flat volumes. Flash data from real estate portal SRX and property agency 99.co released on Thursday (Sep 7) showed that 54 HDB flats changed hands for S$1 million or more during the month, up from 32 units in July 2023.
https://www.businesstimes.com.sg/property/record-number-million-dollar-hdb-flats-sold-august-resale-volume-jumps-203
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-climb-06-in-august-record-54-units-sold-for-at-least-1-million-each
https://www.todayonline.com/singapore/analysis-record-million-dollar-resale-hdb-new-categories-2249531
Singapore Economy
Canada, Singapore reaffirm bilateral ties as Trudeau wraps up two-day visit
Singapore and Canada reaffirmed their bilateral ties on Friday as Canadian Prime Minister Justin Trudeau wrapped up a two-day visit to the Republic. He met Singapore Prime Minister Lee Hsien Loong at the Istana on Friday, the last day of his trip, according to a statement from Singapore’s Ministry of Foreign Affairs (MFA).
https://www.straitstimes.com/singapore/canada-singapore-reaffirm-warm-friendship-as-pm-trudeau-wraps-up-two-day-visit
Singapore, Indonesia to further strengthen cross-border electricity trade
Singapore and Indonesia will continue to build existing ties on energy cooperation with the signing of a new memorandum of understanding (MOU) on Friday (Sep 8). The agreement, inked on the sidelines of the Indonesia Sustainability Forum, aims to support commercial projects for cross-border trading of low-carbon electricity, said a joint statement by Singapore’s Ministry of Trade and Industry and Indonesia’s Ministry of Energy and Mineral Resources.
https://www.businesstimes.com.sg/singapore/singapore-indonesia-further-strengthen-cross-border-electricity-trade
Singapore asks banks to probe dealings with laundering suspects
Singapore’s central bank has directed financial institutions to review any relationships with individuals tied to a money laundering scandal involving over $1.8 billion of assets.
https://www.theedgesingapore.com/news/anti-money-laundering/singapore-asks-banks-probe-dealings-laundering-suspects
https://www.businesstimes.com.sg/singapore/mas-directs-banks-probe-ties-money-laundering-suspects
Companies’ Brief
CapitaLand Ascott Trust shoots for lower carbon footprint, higher portfolio yield
When Serena Teo was appointed chief executive officer of the managers of (Clas) in June 2022, sustainability was one area she wanted to focus on. Together with the heads of department of Clas’ managers and The Ascott Limited’s operations and technical teams, Teo set out to implement a sustainability strategy for the trust.
https://www.businesstimes.com.sg/companies-markets/reits-property/capitaland-ascott-trust-shoots-lower-carbon-footprint-higher
Straits Trading launches investment product offering fractionalised exposure to Chatsworth Park GCB
Investment company Straits Trading has launched a new product that provides fractionalised exposure to real estate as it seeks to improve accessibility to properties that have high barriers to entry.
https://www.businesstimes.com.sg/property/straits-trading-launches-investment-product-offering-fractionalised-exposure-chatsworth
https://www.straitstimes.com/business/companies-markets/straits-trading-launches-products-to-allow-eligible-investors-to-own-shares-in-high-end-condo-unit-gcb
https://www.theedgesingapore.com/news/property/straits-trading-offers-fractionalised-investment-opportunities-chatsworth-park-gcb-and
Global Economy & Real Estate
Analysis: Climate change adds to workplace costs and hazards
https://www.straitstimes.com/business/analysis-climate-change-adds-workplace-costs-and-hazards
Yellen ‘feeling very good’ about soft landing for US economy
https://www.businesstimes.com.sg/international/yellen-feeling-very-good-about-soft-landing-us-economy
US housing affordability remains at a record low, NAR says
https://www.businesstimes.com.sg/property/us-housing-affordability-remains-record-low-nar-says
US deploys artificial intelligence to catch tax evasion
https://www.businesstimes.com.sg/international/us-deploys-artificial-intelligence-catch-tax-evasion
It’s no longer a given that China will become the world’s largest economy
https://www.businesstimes.com.sg/international/global/its-no-longer-given-china-will-become-worlds-largest-economy
China’s deflation pressures ease, more steps expected to spur demand
https://www.channelnewsasia.com/business/chinas-deflation-pressures-ease-more-steps-expected-spur-demand-3757811
https://www.scmp.com/economy/economic-indicators/article/3233973/china-inflation-consumer-prices-rise-01-cent-pointing-weak-demand-and-need-policy-support
Three Chinese cities lift house-buying curbs
https://www.businesstimes.com.sg/companies-markets/reits-property/three-chinese-cities-lift-house-buying-curbs
https://www.channelnewsasia.com/asia/china-cities-lift-house-buying-curbs-3759596
Nanjing scraps home-buying curbs in China’s latest property boost
https://www.businesstimes.com.sg/property/nanjing-scraps-home-buying-curbs-chinas-latest-property-boost
https://www.channelnewsasia.com/business/nanjing-scraps-home-buying-curbs-chinas-latest-property-boost-3755461
China’s August consumer prices edge higher, factory prices fall
https://www.businesstimes.com.sg/international/chinas-august-consumer-prices-edge-higher-factory-prices-fall
German economy expected to contract 0.4% in 2023
https://www.businesstimes.com.sg/international/german-economy-expected-contract-04-2023
German finance minister announces additional tax cuts of two billion euros
https://www.businesstimes.com.sg/international/german-finance-minister-announces-additional-tax-cuts-two-billion-euros
Hong Kong rainstorm forces partial closure at Link Reit mall as it seeks to assess damage, compensation for tenants
https://www.scmp.com/business/article/3233914/hong-kong-rainstorm-forces-partial-closure-link-reit-mall-it-seeks-assess-damage-compensation
Hong Kong luxury home market awaits return of affluent mainland Chinese buyers, as city’s talent scheme powers rentals
https://www.scmp.com/business/article/3234013/hong-kong-luxury-home-market-awaits-return-affluent-mainland-chinese-buyers-citys-talent-scheme
Hong Kong wealthy families, funds among likely bidders in distress sale of defaulter Golden Wheel’s retail building in Tin Hau
https://www.scmp.com/business/companies/article/3233939/hong-kong-wealthy-families-funds-among-likely-bidders-distress-sale-defaulter-golden-wheels-retail
London room rental costs top £1,000 a month for the first time
https://www.businesstimes.com.sg/property/london-room-rental-costs-top-ps1000-month-first-time
Malaysia targets Singapore’s expats as Chinese-built Forest City homes ‘sit empty’
https://www.scmp.com/week-asia/economics/article/3233887/malaysia-targets-singapores-expats-chinese-built-forest-city-homes-sit-empty
Norway’s US$1.4 trillion wealth fund shutters Shanghai office as Singapore takes over as its Asia hub
https://www.businesstimes.com.sg/companies-markets/norways-us14-trillion-wealth-fund-shutters-shanghai-office-singapore-takes-over
https://www.straitstimes.com/business/banking/norway-19-trillion-wealth-fund-closes-china-office-as-asia-hub-shifts-to-singapore
https://www.scmp.com/business/markets/article/3233905/norways-us142-trillion-sovereign-fund-winding-shanghai-office-shifting-regional-base-singapore
Swedish housing prices near inflection point as rates trek up
https://www.businesstimes.com.sg/property/swedish-housing-prices-near-inflection-point-rates-trek
Thai economy may grow 2.8% this year after formation of new government, says minister
https://www.businesstimes.com.sg/international/thai-economy-may-grow-28-year-after-formation-new-government-says-minister
Berkeley freezes investment in UK housing market as rates weig
https://www.businesstimes.com.sg/property/berkeley-freezes-investment-uk-housing-market-rates-weigh
UK rents to rise 25% by 2026 as landlords pass on mortgage costs
https://www.businesstimes.com.sg/property/uk-rents-rise-25-2026-landlords-pass-mortgage-costs
https://www.straitstimes.com/business/property/uk-rents-to-rise-25-by-2026-as-landlords-pass-on-mortgage-costs
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