The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 9 Feb 2023 (Thur)

Singapore Real Estate


Singaporeans will not have to worry about having an affordable home to call their own: PM Lee
Singaporeans, now or in generations to come, will not have to worry about having an affordable home to call their own, said Prime Minister Lee Hsien Loong. Giving this assurance in a Facebook post on Tuesday, PM Lee said the government is working hard to ramp up the supply of flats, cool the resale market and keep Housing Board flats affordable and accessible to a wide range of Singaporeans.


Sutton Place to be relaunched for en bloc sale at unchanged S$285 million guide price
Sutton Place, a freehold residential development at 24, 26 and 28 Farrer Road in prime District 10 will be relaunched for collective sale on Thursday (Feb 9). Its guide price remains at S$285 million after the last attempt closed on Sep 15 last year without a deal.



Singapore Economy


Govt spending may hit 20% of GDP by FY2030, GST hike and tax moves were needed to fund growing needs: MOF
Singapore – Rising healthcare costs are expected to drive up government spending in the years ahead. It is expected to increase from about 18 per cent of gross domestic product (GDP) now to 19 per cent to 20 per cent in the financial years (FY) 2026 to 2030, and possibly exceed that by FY2030, a Ministry of Finance (MOF) paper said.


Household incomes in S’pore rose in 2022 but inflation has chipped away at growth
Singapore – Median household income grew in 2022 and income inequality fell when compared with 2021, figures released by the Singapore Department of Statistics (SingStat) on Thursday showed.



Companies’ Brief


Frasers Property posts pre-sold revenue of S$2.7 billion in Q1
Frasers Property on Wednesday (Feb 8) said it achieved pre-sold revenue of S$2.7 billion across Singapore, Australia, China and Thailand in its first quarter ended Dec 31, 2022. Sales of residential projects in Australia and Singapore remained healthy despite rate hikes and inflation, the company announced in a business update.


Keppel Land unit sells 100% stake in Willowville for US$5.5m
Keppel Corporation said on Wednesday (Feb 8) that a unit of Keppel Land is selling its 100 per cent stake in Willowville for US$5.5 million. Willowville has a 60 per cent stake in a project company that holds the rights to develop a site in District 1 in Ho Chi Minh City, Vietnam.


Envision Digital sets up green research hub as part of expansion
Singapore – Envision Digital is setting up a research and innovation hub here to promote sustainability as part of plans to expand in Singapore and the region. The Net Zero Centre of Excellence will focus on the major sectors of green finance, air, land and sea transport, and large-scale real estate portfolios, said the sustainability software firm.



Views Reviews, Forum and Others


Mask-wearing no longer mandatory on public transport from Feb 13, as Singapore steps down COVID-19 restrictions
Singapore: The wearing of masks on public transport as well as some healthcare and residential care settings will no longer be mandatory from Monday (Feb 13), when Singapore also steps down its disease alert to its lowest level since the COVID-19 pandemic started.


COVID-19 measures for foreign workers in dormitories to align with that of the community from Mar 1
Singapore: Current COVID-19 health measures for migrant workers living in dormitories will align with community guidelines from Mar 1, authorities said on Thursday (Feb 9).


53-year-old Singaporean dies after glass doors topple on him; 4th workplace fatality this year
Singapore — A 53-year-old Singaporean worker died after nine glass doors toppled on him and two other workers while they were unloading them at a warehouse off Pasir Panjang Road. The incident occurred at 61, Harbour Link complex along Alexandra Terrace at about 2.15pm last Thursday (Feb 2), the Ministry of Manpower (MOM) said in a statement.



Global Economy & Real Estate


UK property surveyors say buyers disappearing after rate rise


UK tax revenue to fall by £12.7 billion on low gas prices


Swedish housing market activity slows as prices tick down


Australia faces housing crunch as population growth accelerates


China property player raises US$300 million in US dollar bond issue


China’s rich and mass affluent live in a parallel universe


Fitch raises China’s growth forecast to 5% for 2023



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