News At A Glance

An increasing number of Singapore startups are expanding into Dubai as they see expansion opportunities amid a startup-friendly environment – where companies are entrepreneurial, innovative and open to new technologies, as well as partnership possibilities with both the private and public sectors.  The startups also feel that Dubai would be a good springboard to the rest of the United Arab Emirates and the rest of the Middle East market, and they feel that the Middle East business communities and governments are seeking to reorient the economy away from the oil industry.  Dubai...

Singapore is ranked ninth globally in attracting major property investments, joining Hong Kong and Sydney as the only names from Asia-Pacific to be placed in the top ten of a list dominated by US cities. The rest of the top ten cities include North American cities including New York, which was top on the list, as well as Los Angeles, Washington DC and Chicago.  The results are taken from a global wealth report that looked at data on property investments worth US$10 million and above by private individuals or family offices across commercial and residential markets. Rankings took into accoun...

In Mercer’s quality of living survey, Singapore was ranked top for the highest quality of living, as well as for personal safety, in Asia-Pacific.  The survey included 231 cities, with data analysed between September and November 2018, along with regular updates on changing circumstances like significant political, economic, and environmental developments.  Other cities in the top 10 included Tokyo, Kobe, Yokohama, Osaka and Nagoya from Japan, as well as Hong Kong and Seoul. Other cities that also did well included Kuala Lumpur, Bangkok, Manila and Jakarta.  In China, n...

After two consecutive months of reduction, the resale prices of condominiums in Singapore increased by 0.5% in February from January. This was according to monthly figures from real estate portal, SRX Property. It is the largest price increase since July 2018 with year-on-year prices up by 4.6% compared to February 2018.  Month-on-month, prices in the Core Central Region (CCR) were up 0.2% and 0.8% for the Rest of Central Region (RCR). As for the Outside Central Region (OCR), prices rose by 0.5%. In February, there were an estimated 523 units that were resold. This marked an 8.7% de...

Neverland Ranch, the former home of legendary pop superstar Michael Jackson, is back on the market for US$31 million. This is a far cry from the US$100 million asking price just four years ago in 2015. That amount was reduced to US$67 million in 2017 after briefly being taken off the market before it was reintroduced into the market at the current price. The 12,598 square-foot, six-bedroom, nine-bathroom ranch, located near Los Olivos, California, has been renamed Sycamore Valley Ranch, and features a main house along with three guest houses, a lake with a waterfall, a movie theatr...

Australia is the third most popular destination for international students and young professionals starting their careers. Individuals living in Australia’s major cities, including the 1.2 million people aged 20 to 35 years old, are currently spending at least 30 per cent of their monthly take-home pay on rent. There has been growing demand for more flexible, community-based options of living in urban cities such as Sydney. Hmlet, a Singapore-based co-living company has seized on the growth and is entering the Australian market. Hmlet offers a community for those who have moved to a new cit...

There are signs that the Hong Kong property market may be turning around. There have been increased viewings at project sales and revived interest in government land auctions, and Hong Kong’s property prices have started to rise again, after losing about 10 per cent since August 2018. Some analysts forecast prices will rebound by 5 to 15 per cent this year, and they attribute the expected price increase to the lower likelihood of the US Federal Reserve increase interest rates, broader stock-market gains as demonstrated by the 17 per cent climb by the Hang Seng Index since the end of Oc...

Currently one of the fastest-growing economies in the world, Vietnam’s growth has averaged more than 6 per cent per year over the past 20 years. Factories have also been relocating from Southern China, causing GDP to top 7 per cent in 2018.  That hot economy is causing both foreign investors as well as local buyers to look into investing in the country’s real estate. Investors see Vietnam in a place where Southern China was 10 to 15 years ago. While it may no longer be considered a sure bet considering home prices have been rising steadily over the past 18 months, many still feel that it...

Malaysia’s economy expanded at a faster pace in the final quarter of 2018, ending a year of weakening momentum as resilient exports helped to shore up growth amid a slowdown in global demand from the US-China trade war.  South-east Asia’s third-largest economy expanded 4.7 per cent in the fourth quarter from a year earlier, up from 4.4 per cent in the third quarter. The outcome was in line with the median estimate of a Reuters poll but was better than some economists had expected. Malaysia’s central bank said it expects the economy to remain on a steady growth path, supported by...

“Co-living” facilities are living facilities where residents share kitchens, bathrooms and living areas.  According to reports the co-living market is projected to be worth more than US$2 billion, with some of the biggest names in global investing such as Goldman Sachs moving in. The co-living business is increasing as migration to cities picks up, real estate prices rise and younger generations chose to rent their homes rather than purchase one.  In India, while the concept of shared living arrangements is already widespread, especially for providing high quality, modern and afforda...