Economy of Singapore

Singapore braces for further curbs after record home sales

Pent-up demand and fear of more cooling measures drove home sales in March. Photo: Reuters

Home sales rose to 2,793 in March, rebounding from a 14-month low in February and the highest since the Urban Redevelopment Authority started releasing the information in June 2007, according to data released today. Sales in February slumped to 712 units, the data showed.

Wednesday, 17 April, 2013, 5:31am

Downtown Singapore mansion on the market for a record price

The new owner of this downtown mansion will have the British high commissioner and Japanese and Russian diplomats as neighbours

A downtown mansion near Singapore's Orchard Road is going on the market for a jaw-dropping S$300 million (HK$1.88 billion), with the owner betting that developers may profit from dividing the site.

11 Apr 2013 - 2:18am

Singapore new-home sales dive 65pc last month

Private condominium at Tanjong Rhu in Singapore. Photo: Reuters

New private home sales in Singapore plunged 65 per cent last month from a month before as market cooling measures and the Lunar New Year holidays kept buyers away, official data showed.

20 Mar 2013 - 5:22am

Singapore property taxes aim to deter foreign speculators

Singapore is worried about a property bubble developing and has introduced tough cooling measures to deter speculators. Photo: Bloomberg

Singapore and Hong Kong are neck-and-neck competitors on so many levels, including their property markets. Prime real estate in both regional hub cities is considered a safe asset class, and one made even more desirable these days by the uncertainty elsewhere.

13 Mar 2013 - 5:26am

Wealth tax idea worthy of debate

A higher tax on our top tier of wealth or income can help bridge inequality. Photo: Bloomberg

A higher tax on the owners of Singapore's most expensive homes - the top 1 per cent - resonates here because it is aimed at closing a widening income gap, a problem we share. But it has prompted property and tax experts to say it would not work in Hong Kong because our residential property market is different. 

3 Mar 2013 - 3:32am 2 comments

Singapore sees exports decline again

Exports fell 2.5 per cent last month from a year earlier. Photo: AFP

Singapore's exports unexpectedly fell for the third time in four months last month as shipments of electronics slumped and companies sold fewer goods to US customers.

Non-oil domestic exports fell 2.5 per cent last month from a year earlier, after a 7.9 per cent gain in October, the trade promotion agency said in a statement yesterday.

18 Dec 2012 - 2:33am

Work-cheap model hits Singapore inflation wall

Higher prices are pressuring wages in Singapore. Photo: AFP

When dozens of Chinese bus drivers held Singapore's first strike in 26 years last week, the island deported the perpetrators. Getting rid of the soaring prices that are emboldening calls for higher wages won't be as easy.

Rising housing, transport and business costs have given the city state the fastest inflation among the developed world's biggest economies.

7 Dec 2012 - 3:23am

Memo to C.Y., Singapore isn't better off

'With an economy just half the size of Hong Kong's 10 years ago, Singapore has now surpassed us.'

Leung Chun-ying, chief-executive-elect

12 Jun 2012 - 12:00am

Europe feels the pain Asia once endured

How strange! Markets across Asia plummeted on news of Francois Hollande's election victory in France and of the punishment Greece's mainstream parties suffered at the hands of voters for their austerity measures. The election results are a clear rejection by ordinary people of spending cuts and belt-tightening.

8 May 2012 - 12:00am

Model behaviour

Hong Kong and Singapore have achieved stunning economic growth over the past decades; but through different approaches. Hong Kong's growth has been driven by the private sector, while Singapore has used a state-led capitalism model.

5 Mar 2012 - 12:00am

Tales of the tigers

In the wake of the Asian markets crash of the late 1990s, it became no longer fashionable to talk about the Asian Tigers and their wondrous performance.

7 Jul 2011 - 12:00am

Singapore's 'sorpasso' to cause soul-searching in HK

Italians used to brag about 'Il Sorpasso' - the point in 1987 that Italy overtook Britain to become the world's fifth largest economy.

Well, this year Singapore looks set to celebrate a sorpasso all of its own. According to forecasts from the International Monetary Fund, 2012 will be the year in which Singapore's economy overtakes Hong Kong's.

17 May 2011 - 12:00am

Singapore exploits labourers from China, report says

The 200,000 migrants from China working in Singapore suffer abuse, discrimination and violations of their rights but few can obtain legal redress because they are under the control of their employers, according to a report by the China Labour Bulletin.

17 Feb 2011 - 12:00am

Rise and revolution

Many people have talked about the rise of Asia. This is especially so now, post financial crisis, when prospects for the United States and Europe seem quite weak for the short to medium term.

15 Jan 2011 - 12:00am

The past is gone - spending HK's cash won't bring it back

Consequently, while both Singapore and Shanghai were aggressively expanding their positions as international maritime hubs, if Hong Kong continued to do nothing, ultimately it would lose its status as a global maritime centre, [they] said.

SCMP, Nov 27

30 Nov 2010 - 12:00am