https://www.scmp.com/rss/502244/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com To Singaporeans like Angela* and her husband, both in their 40s and in the IT industry, investing in property seems like a no-lose proposition. “If I choose the wrong property, in the worst-case scenario, I can still live in it or collect rental. But if I choose the wrong stock or investment instrument, it is possible to have all my money wiped out,” she said. Her view is a commonly-held one that has inspired an enduring love affair between Singaporeans and property. Property values have... https://www.scmp.com/week-asia/economics/article/3154147/has-singapore-property-cash-cow-been-fully-milked?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3154147/has-singapore-property-cash-cow-been-fully-milked?utm_source=rss_feed Mon, 01 Nov 2021 00:00:27 +0000 In just a decade, Mark Wang made a cool S$700,000 (US$530,000) profit when he sold his public housing flat for S$1.07 million last September, having bought the heavily subsidised unit from the government through a ballot. He intends to partially fund the purchase of two condominiums with the profit. “Yes, it’s a kind of lottery effect and I feel truly blessed,” said the associate group director, 45, from real estate agency PropNex Realty, who specialises in private homes in the central region.... https://www.scmp.com/week-asia/economics/article/3117954/sky-high-prices-million-dollar-question-facing-singapores?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3117954/sky-high-prices-million-dollar-question-facing-singapores?utm_source=rss_feed Mon, 18 Jan 2021 00:00:09 +0000 As Singapore’s economy continues to reel from the impact of Covid-19, a lifeline for companies in the worst-hit business sectors is starting to dry up. Despite a government pledge to backstop bridging loans - credit extended to companies to tide them over during difficult periods - companies in ailing industries such as aviation and construction are finding it harder to get funds. While such loans were disbursed more freely earlier in the year amid strong government support and a... https://www.scmp.com/week-asia/economics/article/3104816/singapore-firms-aviation-construction-struggle-get-loans-amid?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3104816/singapore-firms-aviation-construction-struggle-get-loans-amid?utm_source=rss_feed Fri, 09 Oct 2020 05:30:08 +0000 It was like buying a Lamborghini and not letting people know about it. First, there was frenzied anticipation over who would be buying a S$145 million (US$102 million) bungalow in Cuscaden Road, part of Singapore’s affluent Orchard district, in 2016. Then mystery, as the identity of the buyer was not revealed for a week, said ERA Realty head of research and industry veteran Nicholas Mak. “A Singapore developer would have announced it. But maybe it’s his style,” Mak said. The buyer was Stanley... https://www.scmp.com/week-asia/economics/article/3086834/look-stanley-hos-foray-high-end-singapore-property?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3086834/look-stanley-hos-foray-high-end-singapore-property?utm_source=rss_feed Sat, 30 May 2020 23:00:19 +0000 In a coronavirus-stricken world, Singapore’s loan sharks and licensed moneylenders are feeling the pinch as struggling customers look elsewhere for cheaper credit. Some loan sharks have been driven to desperation from a lack of business. Bogus advertisements for staff to enforce stay-home orders are actually requests for runners. Hundreds of dollars worth of food deliveries are sent to debtors as harassment. ValueMax, one of Singapore’s biggest moneylending and pawning chains with over 30... https://www.scmp.com/week-asia/economics/article/3085714/will-singapore-banks-regret-easy-loans-coronavirus-hit?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3085714/will-singapore-banks-regret-easy-loans-coronavirus-hit?utm_source=rss_feed Mon, 25 May 2020 01:00:14 +0000 This was supposed to be a momentous year for the Sri Krishnan Temple, a Hindu temple located in downtown Singapore. It was planning to celebrate its 150th anniversary with a big bash, with bursaries slated to be given out to tertiary students. Then the coronavirus outbreak hit. With a blanket ban on all religious gatherings enacted in the city state since March 26, the temple has been empty and eerily quiet. Collections fell by 45 per cent between January and March this year, compared with the... https://www.scmp.com/week-asia/people/article/3083551/coronavirus-singapore-small-religious-groups-pray-survival?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3083551/coronavirus-singapore-small-religious-groups-pray-survival?utm_source=rss_feed Mon, 11 May 2020 01:00:09 +0000 Singapore ’s residential property prices, which have weathered multiple cooling measures and an economic slowdown, are set to tumble as a result of the fast-spreading Covid-19 pandemic. Prices are expected to correct by as much as 8 per cent this year, because of weak demand and a poor economic outlook, according to property analysts. But investors looking for fire sales will be disappointed, as analysts say prices are unlikely to crash the way they did in the recession after the global... https://www.scmp.com/week-asia/economics/article/3079409/coronavirus-singapore-property-prices-set-tumble-fire-sales?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3079409/coronavirus-singapore-property-prices-set-tumble-fire-sales?utm_source=rss_feed Sun, 12 Apr 2020 05:15:07 +0000 Swiping through online deals on her iPhone is one of Chua Jia Ying’s favourite ways to shop. “But sometimes you just need to get out of the home, and window shop,” said the civil servant, 29. That was precisely what she did at the recently unveiled Paya Lebar Quarter (PLQ) mall in southeast Singapore. The mall, which houses 200 shops, is part of a giant mixed-use development spanning four hectares, or about six soccer fields. The project, by Australia-headquartered property firm Lendlease,... https://www.scmp.com/week-asia/economics/article/3039990/singapore-can-monster-malls-scare-retail-woes-away?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3039990/singapore-can-monster-malls-scare-retail-woes-away?utm_source=rss_feed Mon, 02 Dec 2019 00:30:14 +0000 Allen Chung, 73, thumbs a rectangular plastic piece bearing the unit number of his old home. He pierces the nostalgia-filled moment with an abrupt admission, a mischievous glint in his eyes. “We actually took this without permission,” he said. His 71-year-old wife Ann, a retired teacher, smiles sheepishly next to him. For 30 years, the unit number adorned the entrance of their 1,600 sq ft family home in Shunfu Ville. The condominium, located in a central suburban neighbourhood, was sold... https://www.scmp.com/week-asia/people/article/3035984/these-singaporeans-won-housing-lottery-did-money-buy-happiness?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3035984/these-singaporeans-won-housing-lottery-did-money-buy-happiness?utm_source=rss_feed Sat, 02 Nov 2019 04:15:07 +0000 Hong Kong’s leaders are out of touch with the people and have been slow to respond to their needs, according to former World Bank president Robert Zoellick. The former top US trade official said the city was in a “dangerous situation” and any further escalation of its violent protests could also worsen China’s tensions with the United States. “I’m very concerned that the Hong Kong government has lost touch with its public, including on issues such as housing for young people,” Zoellick said on... https://www.scmp.com/news/asia/east-asia/article/3029750/ex-world-bank-chief-robert-zoellick-says-hong-kong-leaders-have?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3029750/ex-world-bank-chief-robert-zoellick-says-hong-kong-leaders-have?utm_source=rss_feed Fri, 20 Sep 2019 13:11:53 +0000