Economics

S’pore private residential property surplus may take nearly four years to clear: Regional Cushman & Wakefield head of research

Singapore’s private residential property surplus may take as long as four years to be cleared, according to the head of research for Singapore and Southeast Asia at global commercial real estate services firm Cushman & Wakefield Plc in a report by Bloomberg on Mon (9 Dec). Speaking to Bloomberg, Christine Li added that private residential property sales have reached an average of 2,500 …

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Govt should provide HDB flat owners with affordable 99-year lease renewal after 50 years: Nonpartisan experts publish proposals on housing policy

The Government should provide Housing Development Board (HDB) flat owners with an affordable one-time top up of the 99-year lease after 50 years, according to three industry experts and academicians from ground-up imitative, Future Of Singapore . In their public housing policy paper Addressing Singapore’s Key Housing Problems: Asset Protection, Affordability and Access, Chief Executive Officer of International Property Advisor …

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Singapore brings growth forecast margin closer to 0.5-1% as Q3 slowly improves

According to official data released by the Ministry of Trade and Industry (MTI) on Thursday (21 November), Singapore narrows its annual forecast for economic growth to between 0.5% to 1%. This is because the economy for the third quarter is slowly improving. This is the third revision in the country’s growth forecast for this year, which was previously marked to …

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Worrying economic trends as Singapore’s oil domestic exports decreased by 21.0% and non-oil domestic exports decreased by 12.3%

Things are not looking well for the local economy, according to the latest Enterprise Singapore data released on Monday (18 Nov). Both non-oil domestic exports (NODX) and oil domestic exports declined on a year-on-year (y-o-y) basis. And NODX has on the declining trend for the past eight months. On a y-o-y basis, NODX decreased by 12.3% in October 2019, following …

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S’pore economic slump may ease at a slow rate, says MAS chief

A recovery, albeit a slow one, is on the horizon for Singapore’s economy as the decline in trade and manufacturing this year has not spread to other sectors, said Monetary Authority of Singapore (MAS) Managing Director Ravi Menon. Bloomberg reported Menon as saying on Thu (24 Oct) in an interview that MAS holds the baseline view that “the current cycle …

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Govt should utilise more ‘effective’, less burdensome mechanisms to increase revenue: Entrepreneur and SDP member Alfred Tan, on opposing the GST hike

Instead of raising the Goods and Services Tax (GST) rate, the ruling People’s Action Party (PAP) government should utilise less burdensome measures for Singaporeans, said entrepreneur and Singapore Democratic Party (SDP) member Alfred Tan at the party’s pre-election rally last Sat (19 Oct) at Hong Lim Park. Criticising the Government’s move to increase the GST by two per cent despite …

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Singapore eases monetary policy, avoids recession

Singapore eased monetary policy for the first time in over three years Monday as the US-China trade war bites, while the export-reliant economy narrowly avoided recession in the third quarter. The financial hub’s central bank joins others around the world, from Europe to the US, in loosening policy as fears mount of a global economic slowdown. The city-state has traditionally …

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Possible reintroduction of GST: Respect mandate given by Malaysians in last GE, PH presidential council will decide, says Finance Minister Lim Guan Eng

The Malaysian government needs to “respect the mandate” given by Malaysians in the last General Election (GE) unless there is “incontrovertible evidence” that the people want the Goods and Services Tax (GST) to be reinstated, said the country’s Finance Minister Lim Guan Eng. Lim told reporters today (4 Oct) after the Ministry of Finance’s monthly assembly that it was evident …

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The Impact of Brexit on the Property Market in the UK and the EU

by Kate Bregovic According to recent reports, Singaporeans aren’t satisfied with their housing market, which isn’t a surprise. This, however, means that those who want to invest in real estate have to look elsewhere. Britain is one of the markets that might be tempting for investors because of the exceedingly high demand. However, before making any commitments in that direction …

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